This article is from the Australian Property Journal archive
Industrial property yields continue to firm up while retail property yields have fallen out of fashion.
According to the latest commercial property auction results from Commercial Property Guide, the highest yield recorded was 8.63% for the sale of an industrial property at 1/8 Sherwood Ct in Wantirna South, Melbourne.
The property was sold by TP W.B. Simpson & Son for $260,000.
The same agency sold a nearby industrial property at 2/9 Woodbine Ct for $282,000 on a yield of 8.43%.
The lowest yield recorded was 3.57%, from the sale of a retail property at 43 Toorak Road in South Yarra, Melbourne.
The property was sold for $2.04 million by JHC Melbourne,
Meanwhile, the commercial property auctions market continued to lag with 28 properties going under the hammer in the week to June 07.
According to the Commercial Price Guide, 11 properties were sold, resulting in a clearance rate of 39.30%.
A week earlier, the clearance rate rose above the 50% for the first time in almost four weeks.
In New South Wales, 14 properties were auctioned and only four were sold for a total of $3.2 million.
In Queensland, two properties went under the hammer and one sold for $2.33 million.
In Victoria, 12 properties were auctioned and seven were sold for a total of $4.95 million.
The total value of properties sold across the three states was $9.5 million.
By Nelson Yap
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These auction results are as reported to Australian Property Monitors on or before 7 June 2006
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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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ADAMSTOWN: 274 Brunker Rd
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retail
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N/A
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HB
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Dowling RE Hamilton
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BALMAIN: 244-250 Darling St
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retail
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N/A
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HB
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RW Comm Inner West
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CROWS NEST: 65 West St
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retail
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900
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HB
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NSCI NSW
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CROWS NEST: 65 West St
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retail
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950
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sold after
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NSCI NSW
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FIVE DOCK: 144 Great North Rd
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office
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N/A
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HB
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CBRE Sydney
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KINGSGROVE: 17 Forrester St
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office
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1480
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HB
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RW Industrial M5 East
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KIRRAWEE: 4/5-7 Ethell Rd
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industrial
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Not disclosed
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sold
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All Star RE
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KIRRAWEE: 5/5-7 Ethell Rd
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industrial
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N/A
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HB
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All Star RE
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KIRRAWEE: 6/5-7 Ethell Rd
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industrial
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N/A
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HB
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All Star RE
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KIRRAWEE: 7/5-7 Ethell Rd
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industrial
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N/A
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HB
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All Star RE
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KOGARAH: 2/53-55 Montgomery St
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retail
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5.5
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1400
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sold
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Sydney Sth RE
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MERRYLANDS: 222 Merrylands Rd
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retail
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N/A
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No bid
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CBRE Sydney
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MORUYA: 24-26 Ford St
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commercial development site
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N/A
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No bid
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LJH Batemans Bay
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TAMWORTH: 62-78 Oxley Hwy
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retail
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N/A
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HB
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DTZ Australia
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TURRELLA: 12 Loftus St
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industrial development site
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645
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VB
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RW Industrial M5 East
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WINDSOR: 111a George St
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retail
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850
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sold
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Wilkinsons RE Windsor
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Queensland
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COORPAROO: Cnr Old Cleveland Rd
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industrial
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VP
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2330
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sold
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King & Co
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CURRUMBIN WATERS: 14 Queensbury Av
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industrial
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VP
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1050
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HB
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DTZ Gold Coast
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Victoria
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BALWYN: 249b Belmore Rd
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retail
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651
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sold
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Cantwells Property
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BRUNSWICK EAST: 69 Nicholson St
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office
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N/A
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HB
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TC Richmond
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