This article is from the Australian Property Journal archive
The commercial property auctions market has recorded just under $10 million worth of sales this week.
According Australian Property Monitors’ Commercial Price Guide, only 14 properties were auctioned this week and 10 were sold totalling $9.91 million.
However, yields were attractive this week. The highest yield achieved was 8.45% from the sale of a retail property at 21 Coolstore Rd, Croydon in Victoria by Lawson Real Estate.
That property was sold for $645,000.
The lowest yield recorded was 5.87% from the sale of another retail property at 295-301 Exhibition Street in Melbourne’s CBD by Kliger Wood. The property was sold for $2.8 million.
By Adam Parsons
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Auction Results
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Suburb: Address
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Property Type
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Yield
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Price
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Event type
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Agent
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New South Wales
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CABRAMATTA: 16 John St
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retail
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N/A
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HB
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L&S Cabramatta
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LAVINGTON: 476-478 Prune St
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retail
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N/A
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HB
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ELD Albury Wodonga
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MEREWETHER: 52 Railway St
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retail
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400
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HB
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R&H Newcastle
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NEWCASTLE WEST: 146 Parry St
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industrial
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Not disclosed
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sold
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RW Comm Newcastle
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ROCKDALE: 413 West Botany St
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industrial
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1478
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sold
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PRDNW Hurstville
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Queensland
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BUDERIM: 36 Kayleigh Dr
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industrial
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VP
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Not disclosed
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sold
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Colliers International
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GATTON: 68 Crescent St
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commercial development site
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VP
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280
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sold
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RW Brisbane Corporate
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Victoria
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CROYDON: 21 Coolstore Rd
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retail
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8.45
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645
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sold
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Lawson Real Estate
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MELBOURNE: 295-301 Exhibition St
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retail
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5.87
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2828
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sold
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Kliger Wood Melbourne
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MELBOURNE: 608 St Kilda Rd
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office
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VP
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N/A
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HB
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JED Melbourne
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NARRE WARREN: 47-57 Tinks Rd
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residential development site
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4100
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sold
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FN Frank Facey Paknham
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ROSEBUD: 895 Point Nepean Rd
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retail
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Not disclosed
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sold
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FN Norris Rosebud
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ROSEBUD: 897 Point Nepean Rd
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retail
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Not disclosed
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sold
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FN Norris Rosebud
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SUNSHINE: 14 Hertford Rd
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industrial
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7.03
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580
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sold
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Rendina RE
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Total dollar value sold
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9910500
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No of Auction
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14
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No of Sold
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10
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Clearance rate
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71.40%
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Highest Yield
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8.45
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Average Yield
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7.116667
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Lowest Yield
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5.87
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VP = vacant possession
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T = tennanted
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PT = partly tennanted
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HB = highest bid
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VB – vendor bid
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SOURCE: www.commercialpriceguide.com.au Phone 1800 817 616.
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