This article is from the Australian Property Journal archive
RAY White Commercial has achieved a 96% clearance rate across its auctions during the second half of 2015.
Ray White Commercial head of research Vanessa Rader said approximately $240 million was sold via 184 auction campaigns in 2015.
“Most encouragingly we had a very strong second half of the year in 2015 with a clearance rate of 95.89% from 73 auctions with total sales of $93.59 million,” Rader said in her Auction Insights July-December 2015 report.
“During the second half of 2015 the high number of registered bidders, with an average of seven per auction, further emphasised the strong demand for investment quality stock,” she added.
One of the standout results was the sale of a property at Gympie Rd Kedron in Brisbane’s inner north, which is home to Queensland’s first KFC restaurant.
The property leased to market leading ASX listed company Collins Food Limited until August, 2021, with 2 x 5 year options was sold by Ray White Commercial (Qld) director of sales John Dwyer at the Ray White corporate auction in Brisbane for $3.8 million and a 4.84% yield.
“The property was sold under the hammer to a Queensland based investor after a four week marketing campaign which generated 79 enquiries and attracted 14 registered bidders,” Dwyer said. “This marketing campaign provides clear evidence to any vendor considering selling prime assets that auction campaigns foster keen competition and produce optimal results. The campaign also demonstrated the high demand for retail assets leased to national food operators.”
Australian Property Journal
