Burgess Rawson concluded its final Portfolio Auction Event for 2024 with remarkable results, achieving almost $90 million in transactions and a stellar success rate of 88.5 per cent with 31 of 35 properties selling.

In Brisbane, key sales included the KFC in Clinton which sold through Queensland Partner, Andrew Havig for $6.001 million providing a return of 4.66 per cent while Banjo’s Bakery Café in Burpengary sold for $4.7 million showing a yield of 5.34 per cent. The Bundamba Discount Pharmacy attracted spirited bidding before selling for $2.621 million reflecting a yield of 5.31 per cent.

Mr Havig said the results underscore the strong demand for high-quality investment opportunities and reaffirm Burgess Rawson’s market leadership

Highlights of the Melbourne event include a convenience retail outlet in Cranbourne North leased to Jasbe which sold for $5.3 million sold through Burgess Rawson Partner Shaun Venables while entry level assets were also coveted with The Wheel Café in Berwick selling for $615,000 reflecting a 5.55 per cent return.

Mr Venables said the results reflected on the strong performance, stating that the diverse mix of asset classes and high-quality tenants showcased in the portfolio underscores the robust investor demand for secure, long-term opportunities across multiple sectors.

Burgess Rawson Partner, Matthew Wright sold a Dandenong South asset leased to Rangedale Drainage sold for $5.25 million reflecting a yield of 5.79 per cent along with the Reading Cinema Complex in Best Street, Devonport, Tasmania sold for $5.01 million. The main tenant occupies the premises on a 20-year lease with a 10-year option with the property boasting a 100% occupancy rate and a 4.3-year WALE.

Early education assets also drew strong interest, with two Goodstart Early Learning Centres in Queensland successfully sold on super tight yields. The Highland Park centre sold for $3.45 million on a record 4.16 per cent yield while the centre in Beaudesert sold for $2.84 million on a 4.34 per cent yield.

Another standout sale was the EG Group/Ampol site in Liverpool which changed hands for $7.35 million at a 5.56 per cent yield, highlighting the enduring strength of convenience retail.

The Petstock-anchored retail centre in Coffs Harbour transacted for $6.415 million, providing a 5.98% return. Other Petstock investments to sell include a Gordonvale site for $667,000, on a 6.12% yield, and a Leeton investment for $1.245 million, at a similar 5.97% return.

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