This article is from the Australian Property Journal archive
The commercial property auction market has recorded firm yields for the four consecutive week, according to the Commercial Price Guide from Australian Property Monitors.
According to the Commercial Price Guide, in the week to May 03, 2006, 29 properties were listed auction, of which 16 were sold resulting in an auction clearance rate of 55.2%.
The highest yield achieved during the week was 6.47% from the sale of a retail property at 3/601 Little Collins St in Melbourne for $485,000.
The yield recorded this week is fourth consecutive week yields have stayed above 5%.
Last week, the sale of an office property at 3/6-8 The Boulevarde in Toronto, New South Wales achieved a yield of 7.91%.
A week earlier, the sale of a retail property at Fairfield, NSW achieved a yield of 7.33% and in the week to April 18, the sale of a retail property at Bondi Junction in Sydney achieved a yield of 5.36%.
This week, the total value of properties sold was $13.34 million.
By Adam Parsons
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These auction results are as reported to Australian Property Monitors on or before 3 May 2006
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Auction Results
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Suburb, Address, Property Type, Yield, Price, Event type, Agent
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New South Wales
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CABRAMATTA, 1/105 John St, retail, 520, sold, R&H Cabramatta
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FAIRFIELD, 64 Ware St, retail, N/A, HB, R&H Cabramatta
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GOSFORD, 91a Donnison St, office, N/A, HB, L&S Sydney Commercial
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HELENSBURGH, 187-193 Parkes St, industrial, 2060, sold, RW Helensburgh
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NEWCASTLE, 111 Scott St, commercial development site, N/A, HB, Colliers Intl. Newcastle
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NEWTOWN, 227 King St, retail, 2810, sold, CBRE Sydney
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NORTH PARRAMATTA, 11 Daking St, other, N/A, HB, R&W Parramatta
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WAMBERAL, 9 Ocean View Dr, tourism & leisure, 700, sold, R&W Terrigal
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Queensland
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BOOVAL, 16 South Station Rd, commercial development site, N/A, HB, RW Commercial Ipswich
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BROWNS PLAINS, 268-270 Browns Plains Rd, commercial development site, VP, N/A, HB, FN Metro
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CALOUNDRA, 22-24 Canberra Tce, commercial development site, N/A, HB, RW Commercial
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CURRUMBIN WATERS, 5 Traders Wy, industrial, T, N/A, HB, RW Broadbeach
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GRANGE, 11/197 Days Rd, office, VP, 297, sold, R&H Comm Brisbane Nth
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GRANGE, 3/197 Days Rd, retail, VP, 287, sold, R&H Comm Brisbane Nth
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MEADOWBROOK, 87-95 Meakin Rd, commercial development site, Not disclosed, sold, LJH Robertson
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Victoria
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BALLARAT, 9 Neerim Cr, industrial, 920, sold, Jens-Gaunt Ballarat
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BENTLEIGH, 74 Patterson Rd, retail, 450, VB, David Marshall FN
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BRIGHTON, 142 Church St, retail, 875, sold, Fitzroys Melbourne
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CHELTENHAM, 18 Kylie Pl, industrial, 653, sold, KN Moorabbin
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CHELTENHAM, 26 Kylie Pl, industrial, N/A, HB, KN Moorabbin
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CLAYTON SOUTH, Cnr Westall Rd, industrial, VP, 376, sold, RW Oakleigh
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COLLINGWOOD, 33-37 Victoria Pde, retail, N/A, HB, Fitzroys Melbourne
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DANDENONG SOUTH, 21-23 Ordish Rd, commercial development site, 570, sold, Facey Industrial Comm
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FITZROY NORTH, 24-26 Taplin St, industrial, N/A, HB, TC Richmond
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MELBOURNE, 339 King St, office, 5.73, 1802, sold, Colliers International
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MELBOURNE, 3/601 Little Collins St, retail, 6.47, 485, sold, Colliers International
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NARRE WARREN, 6-8 Narre Warren-Cranbourne Rd, residential development site, Not disclosed, sold, FN Hall&Prtnrs Dandenong
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SOUTH MELBOURNE, 4 Ross Pl, office, N/A, HB, CBRE Melbourne
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SOUTH YARRA, 121 Toorak Rd, retail, 990, sold, TC Richmond
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Total dollar value sold, $13, 344, 500
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No of Auction, 29
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No of Sold, 16
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Clearance rate, 55.2%
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Highest Yield, 6.47
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VP = vacant possession, T = tennanted, PT = partly tennanted, HB = highest bid, VB – vendor bid
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SOURCE, www.commercialpriceguide.com.au Phone 1800 817 616.
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Copyright Australian Property Monitors 2006
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