An entire Aussie town where homes are listed for as low as $165,000 has a new landlord after a billion dollar deal saw the entire community sold off.
Middlemount, in Queensland’s Bowen Basin, was sold as part of a $5.43 billion mega deal after mining giant Anglo American walked away from its steelmaking coal empire, which included five mines and the town it built in the 1980s to accommodate workers.
The town and mines were purchased by UK-based mining firm Dhilmar Limited, which is now the landlord for the local housing, shopping centre, childcare facilities and the medical centre.
Middlemount has sold in a mega deal. Picture: Rae Wilson
Currently for sale is a fully-furnished two bedroom unit, which is listed for $165,000 – $10,000 less than the town’s median sale price.
It is being marketed as an “affordable investment opportunity”, with a current rental appraisal of between $375 and $400 a week.
31/8 Atkinson Street, Middlemount, is currently the cheapest listing in Middlemount at $165,000
The latest REA Market Trends report shows that 17 units have sold in the past 12 months, with prices up 10.4 per cent over that same period.
The median asking rent is $410, represented an indicative gross rental yield of 8.86 per cent.
Also on the market is a two bedroom house which is “currently rented to a company for $490 per week until September with the likelihood of renewal”.
It is “one of only two homes in the popular Milieu Estate” and is listed for $265,000.
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35/73 Centenary Dr Nth, Middlemount, is listed for $265,000
The most expensive property currently on the market is listed for offers over $349,000, a whopping $854,000 less than the Brisbane median house price of $1.203 million.
It includes a double storey house at the front of the 847sq m block that needs “significant renovation/repair work before occupation”, and a three bedroom house at the rear of the property which is currently rented.
“The occupants plan to vacate around August,” the listing said.
“They have been in the property for a number of years and are great tenants, so the rent has been kept lower than market at $300 per week.”
Lot 81 Dawson Street, Middlemount, is listed for offers over $349,000
It is being pitched to owner occupiers or investors “drawn the potential of double rent”.
A three bedroom house also “rented by a company until March 2027 for $520 per week” recently sold for $267,500.
25/73 Centenary Dr Nth, Middlemount, recently sold for $267,500
Middlemount is located 247km southwest of Mackay and, in its early days, served as a dormitory settlement for the German Creek open cut coal mine, according to the Isaac Regional Council.
Olympic cyclists Anna adn Kerrie Meares also grew up in the mining town, which is known for its murals and views on Blue Mountain.
The Middlemount Races is renowned for its “unique dachshund races”.
There were 1899 people living in Middlemount at the time on the 2021 Census, including 309 families.
There was also 922 private dwellings but only 5.7 per cent of those homes were held by owner-occupiers.
Over 85 per cent were leased out.
The ABS data also showed that over 50 per cent of those living in the town were employed in the coal mines in 2021, and earning a median weekly income of $1667, more than double the Queensland average.
The 2026 Census will be held on August 11.
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