Over $20 million in property has changed hands as part of CBRE’s National Auction Platform.

The National Auction Platform showcases a selection of premium assets across several sectors nationwide and involves multiple CBRE agents.  

CBRE Managing Director Mark Lafferty highlighted the diverse offering of properties that have come to market, with a further 11 campaigns launching shortly, “We continue to see strong results being achieved using the auction platform, driven in part by the diverse buyer pool attracted to the platform and the belief we are close to the peak of the interest rate cycle”.  

CBRE Capital Markets General Manager Adrian Sacco said, "The significant uptick in stock levels and increased activity from opportunistic purchasers has driven our third National Auction Series event to be held in Sydney later this year. We expect the strong start to the year to continue, supporting the continued success of our auction platform.”

The transacted properties include:

New South Wales:

• Neutral Bay apartment block sold to local investor for $5,700,000, representing a yield of 3.1%.
• Clovelly apartment block sold to local investor for $5,350,000, representing a yield of 2.5%.
• Summer Hill retail freehold building sold to local restaurant operator looking to owner occupy for $3,070,000, representing a projected yield of 5.53%.
• Hurstville Grove development site sold to a local builder for $1,370,000.
• Condell Park development site sold for $840,000 to a local builder.
• Crows Nest retail strata site sold to local investor for $765,000, representing a yield of 6.2%.

Victoria:

• Office / Warehouse sold with vacant possession for $2,100,000 to a locally based Asian investor.

Queensland:

• Everton Hills development site sold to private residential builder/developer, representing a land rate $580/sqm.