Historical Murwillumbah medical centre sells
By Jo Kennett
A HISTORIC Queenslander in the centre of Murwillumbah has sold for nearly $2 million to a doctor who intends to renovate the building, keeping its historic charm intact, and continuing to use it as a medical facility.
Owners Dr Ian Kettle and Dr David Snedden hoped to find a general practitioner to take over when they retired from the Wollumbin Street Medical Centre at 126 Wollumbin Street (next to Sunnyside Mall) in August and now it seems their prayers have been answered.
The Queenslander was built around 1900, and has been a medical facility for almost 120 years, with the two doctors taking it over 35 years ago.
"David and Ian told us that they wanted it sold because it was the only thing that was holding them back from fully retiring," Colliers Northern Rivers executive Louis Young said.
"We brought it to auction and it didn't sell on the day but we worked with a few interested parties after that to put a deal together. It ended up selling for $1.925 million."
The property, which is also home to Aura Gardens Nursery, was sold to a Gold Coast GP who runs a medical centre in Kyogle and also works out of a medical facility at Reedy Creek.
"He was driving past there every day to work in Kyogle and it was always a very busy little facility and a nice historic building," Louis said.
"He's a very well established physician and he saw the vision of the property and saw that it has a lot of potential.
"He's planning on doing quite a few significant renovations to the building, keeping the original structure very similar and keeping
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the charm of the whole place intact, but in regard to internally really speccy it up nicely so it's the staple medical facility in the centre of town."
Commercial market boom
"We have been appointed by Colliers for that market exclusively because it's being seen as a very very strong growth area for commercial real estate and that's including Tweed Heads, Byron, Lennox Heads and Bangalow," Louis said.
"Colliers are probably the largest commercial real estate agents in Australia.
"They originally bought myself and Kye Ward to service the Northern
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Rivers because number one, we have quite a bit of experience through there, and two, it's seen as a very strong market with how many people are getting priced out of the Gold Coast.
"The reason housing prices are so high is that everyone is moving from Victoria and NSW and there is definitely a flow-on effect in the Northern Rivers.
"The reason residential outpaces the speed at which the commercial market grows is that everyone needs a house to live in but not everyone needs a premises to run a business."
Louis says that business owners are looking to this area because the catchment has increased with population growth so there is more opportunity to grow a business.
"It's a fantastic area and we've had a lot of luck transacting quite a few very big properties and projects through the area," he said.
"It's definitely going to continue as a very strong market moving forward.
"There is a significant opportunity for anyone who owns commercial property to look at letting it go. There are people looking at buying commercial property that are
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definitely putting the blinders on that Tweed market."
Flood challenges
After the floods in 2021, Tweed Shire Council updated the flood mapping to reflect new flood levels. Louis said that properties in the flood zone suffered, but anything outside the flood zone is skyrocketing.
"Residential, commercial, anything that sits outside the flood zone is in demand," he said.
"In the Northern Rivers one of the first questions people ask is, ‘Is it flood-affected?’
"Thirty-six Wollumbin Street was in the two to three metres flood zone. That was one of our main challenges to overcome.
"They have never had water through the improved property but the land certainly has water through it so that's always a big work around for us.
" Thirty-six Wollumbin Street is well and truly on the smaller side of projects we deal with. We deal with projects well and truly over $100 million and Colliers International has a very strong emphasis on being a good real estate agent but having a very strong data-driven basis to assist people in making decisions."
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