Day 2 of Burgess Rawson’s Portfolio Auction Event Takes the Tally to $58.34 M

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.