Burgess Rawson’s Portfolio Auction Event 170 kicked off in Sydney today with a resounding success on its first day, recording impressive sales and a solid clearance rate of 83 per cent. 

The Sydney event saw 14 out of 18 properties sold, totalling over $73 million in transactions. 

Burgess Rawson National Partner, Yosh Mendis said “the results highlight the absolute confidence in  the stability of premium commercial properties, underscored by long-term secure leases to national and  global tenant covenants in strategic main road locations." 

Fast food properties continue to dominate the market, with Griffith Group’s Bayview Centre fast food portfolio in Warrawong achieving $31.75 million in sales and a blended yield of 4.3%.  

The highlight was the sale of McDonald’s which fetched $12.825 million at a 4.1% yield. 

Other transactions included Hungry Jack’s, which sold for $7.6 million at a 4.01% yield; Starbucks, which sold for $6.2 million at a 4.65% yield; and Oporto, which sold for $5.1 million showing a yield of  4.8%. 

Elsewhere, Michael Vanstone and Yosh Mendis sold the Guardian Early Education centre in Coogee for $7.21 million, reflecting a 4.59% yield.  

Among other notable transactions was a rare vacant service station in Casula, which sold for $8.2 million and a Bridgestone and Supacheap Auto in North Rothbury which exchanged for $6.31 million  reflecting a yield of 5.49 per cent. 

The event moves to Melbourne’s Crown Casino tomorrow, August 7 at 10.30am where a range of fast food, medical and childcare are up for grabs. 

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