Day one of Burgess Rawon's investment portfolio auction event reaps $25.17m

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Oct 29, 2024

Day one of Burgess Rawon's investment portfolio auction event reaps $25.17m

Burgess Rawson’s first day of its inaugural Portfolio Auction Event in Sydney realised more than $25.17 million in transactions and a success rate of 80 per cent with eight out of 10 properties selling.

Burgess Rawson

Greenway ACtT sold by Burgess Rawson

The highlight was the $9.05 million sale of a Viva Energy in Greenway, ACT which transacted on a yield of 5.47 per cent.

Guy Randell, Managing Director of Burgess Rawson ACT, commented on the successful outcome, noting, "The asset was sold to a Canberra-based investor, showcasing not only local interest but also the appeal of quality assets in our region.

“Our campaign generated robust inquiry, attracting attention from neighbouring property owners and interstate investors, which highlights the strength and desirability of the asset class we are representing."

Randell added that the strong interest and competitive bidding observed during the auction underscore the resilience of commercial properties, particularly in sectors that continue to thrive.

"This strong demand across sectors like convenience retail and early education is a testament to their fundamental value and long-term growth potential."

Elsewhere on the day, an Affinity Education Early Education asset in Budgewoi sold for $3.2 million reflecting a yield of 4.74 per cent while a supermarket and medical combo at Wisemans Ferry attracted spirited bidding before selling for $2.39 million.

Day 2 commences at Crown Casino in Melbourne on October 30 at 10.30 ADST before concluding at The Hilton in Brisbane on Thursday at 10.30 AEST.

The Melbourne portfolio will see Peregrine’s portfolio of three OTR convenience retail outlets including one which also houses Krispy Kreme’s factory, a unique investment leased to Cell Care in Moorabbin and Shell service station in Yarraville.