55 Mckinlay Street Cloncurry QLD 4824
$900,000

DESCRIPTION

Netting an impressive 20% return on investment, this unique accommodation facility boasts 16 Ensuited single man stays with a commercial style central kitchen, laundry, large dining and common areas. The building was renovated in 2014 and is in great condition, currently rented to a long term tenant and bringing in a fantastic yield.

The mining hub of Cloncurry sits on one of the richest mineral precincts on the planet, boasting nearby deposits and mines dealing in zinc, copper, gold and rare earth minerals. It is located in the north-west region of Queensland, 770km west of Townsville. The township is adjacent to the Cloncurry River

The new Dugald River zinc mine just 65km northwest has been approved for production and is predicted to be one of the largest open cut zinc mines currently underway on the planet. All of this local mining activity aims to ensure you will always be with tenants for the foreseeable future, producing impressive yields and a fantastic return on your investment. The building comes fully furnished, with all desks, tv’s, bedding, washers, driers and kitchen facilities included.

Also nearby, the Ernest Henry mine 38km north east deals in copper and gold, while the Great Australia mine close by in Cloncurry also mines copper and gold. 13km East you will find the Larina mine bringing Gold out of the ground and at nearby Mount Eloise, a large copper mine. All currently operating and with long mining life expectancies - THIS is the bread and butter that makes this investment so worthwhile - you will always have local workers who need somewhere to stay, and this purpose built facility fits that bill perfectly.
“In 1861 Burke and Wills, along with King and Gray, were the first Europeans to come into the area on their ill-fated expedition to the Gulf of Carpentaria. Burke named the river 'Cloncurry' for his cousin, Lady Elizabeth Cloncurry of County Galway in Ireland.

In May 1867 Ernest Henry, honored as the founder of the town and the vast mineral wealth of the district, came this way searching for grazing land. Instead he discovered copper. He named this the 'Great Australia'. The town was surveyed in 1876 and named after the river.”

Why not visit: http://www.cloncurry.qld.gov.au/our-history and see just how famous the area is!

Don’t wait until it’s all gone - contact me today and find out more about this incredible opportunity.

Property Code: 459