Day two of Burgess Rawson’s latest portfolio auction event delivered strong results with $20.6 million in  sales, taking the total to $58.34 million. 

Burgess Rawson National Partner, Shaun Venables said enquiry is back to what we were experiencing  a year ago and registrations levels are significantly higher. 

Highlights at the Melbourne auction include a state government leased asset in Broome, WA which  attracted a whopping 162 bids before selling for $3,704,500 while the Morwell Hotel in Victoria sold for  $3.495 million reflecting a return of 4.96 per cent. 

Entry level assets were also highly sought after with two neighbouring retail outlets in Woodend selling  for $638,000 and $400,000 while the Cranbourne Grill and Kebab House in Cranbourne, Victoria sold  for $980,000. 

Overall, strong enquiry levels leading up to the auctions translated into robust participation, with  properties achieving yields from 4.44 per cent. 

The Sydney portfolio auction event delivered strong results with a total of $37.74 million in sales,  reaffirming investor confidence in high-quality commercial assets. 

Burgess Rawson National Partner, Yosh Mendis said that of the 12 properties presented in Sydney,  nine sold on the day showcasing the continued demand for well-leased and strategically located  investments. 

“Buyers responded positively to assets backed by national brands and essential service tenants,  reflecting a preference for secure, long-term income streams,” he said.  

Notable transactions included PFD Foods in Geebung, which attracted investors across Australia recording almost 50 bids before transacting for $7.52 million on a 4.82 per cent yield, and Devonport,  Tasmania, which sold for $4.325 million. 

Demand for convenience retail assets continues to be strong with the biggest price achieved on the day  being the $8.18 million transaction of Ampol at North Narrabeen, reflecting a 5.51 per cent yield.  

Early learning assets also attracted strong interest, with Young Academics in Seven Hills selling for  $5.86 million reflecting a 4.44 per cent yield, Little Kindy in Walcha, NSW, selling for $2.19 million on a  5.19 per cent yield and Discover & Learn Academy, Tanilba Bay selling for $4.8 million reflecting a 6.16 per cent yield. 

The Portfolio Auction event concludes at The Hilton in Brisbane tomorrow, Thursday 27 at 10.30 am  AEST. 

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Day 1 of Burgess Rawson’s portfolio auction reaps $37.74 million | Commo.

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