This article is from the Australian Property Journal archive
The number of commercial properties for auction has fallen again this week, according to the latest Commercial Price Guide from Australian Property Monitors.
According to APM, 14 properties were auction of which nine were sold, resulting in an auction clearance rate of 64.3%.
The Commercial Price Guide shows that for the fifth consecutive week, the properties sold at auction are achieving yields above 5%.
This week, the highest yield was 8.43% from the sale of a retail property on Lambton Road in Broadmeadow, New South Wales.
The property was sold by McGees NewCastle for $2.320 million.
The lowest yield achieved was 5.15% from the sale of a retail property on Huntingdale Rd in Huntingdale, Victoria.
The property was sold by RW Mt Waverley for $485,000.
This week, the average yield achieved was $7.11%.
According to APM, the total value of properties sold was $5.325 million.
By Adam Parsons
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These auction results are as reported to Australian Property Monitors on or before 11 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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BROADMEADOW: 27-29 Lambton Rd, retail, 8.43, 2320, sold, McGees Newcastle
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CABRAMATTA: 34-38 John St, other, T, Not disclosed, sold, R&H Cabramatta
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ENFIELD: 1 Baker St, industrial: 653, HB, ELD Enfield Inner West
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HAMILTON: 35 Hudson St, industrial, 7.75, 1110, sold, Castle Wallsend
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MATRAVILLE: 40 McCauley St, office: N/A, No bid, LJH Comm Mascot
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MAYFIELD: 242 Maitland Rd, retail: Not disclosed, sold, RW Comm Newcastle
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WALLSEND: 88-90 Nelson St, office: 1500, VB, Castle Wallsend
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Victoria
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COLLINGWOOD: 41 Derby St, retail, VP, Not disclosed, sold, KP Smyth Fitzroy
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FOOTSCRAY: 104 Nicholson St, retail, T, Not disclosed, sold, Frank Trimboli Footscray
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HUNTINGDALE: 276b Huntingdale Rd, retail, 5.15, 485, sold, RW Mt Waverley
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KINGLAKE: 10/910 Heidelberg-Kinglake Rd, retail, 335, sold, David McFarlane RE
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MIDDLE PARK: 153 Mills St, retail, VP, 1075, sold, Cayzer Port Melbourne
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PRAHRAN: 168 Greville St, other, VP, N/A, HB, TBM Commercial
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SURREY HILLS: 976 Riversdale Rd, commercial development site, VP, 1200, VB, TBM Commercial
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Total dollar value sold: $5.325 million
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No of Auction: 14
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No of Sold: 9
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Clearance rate: 64.3%
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Highest Yield: 8.43
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Average Yield: 7.11
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Lowest Yield: 5.15
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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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