This article is from the Australian Property Journal archive
The commercial property auctions market has shrugged off last week’s poor performance with a number of big ticket sales, according to the latest Commercial Price Guide by Australian Property Monitors.
According to the latest Commercial Price Guide, 42 properties went under the hammer of which 23 were sold. The sale of a number of million dollar properties also boosted the total value of properties sold to $28.35 million.
Last week, 12 properties sold out of the 19 auctioned for a total of $8 million.
In addition to big ticket sales, the average yield achieved this week was 6.26% – compared to 4.92% last week.
The highest yield achieved was 7.36% from a retail property in Potts Point, Sydney. The property was sold by Burgess Rawson Sydney for $1.29 million.
Meanwhile, a residential development site in Lilyfield, Sydney was the most expensive property sold at $4.65 million.
The same property also recorded the lowest yield of 3.51%, the selling agent was Savills Sydney.
By Adam Parsons
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These auction results are as reported to Australian Property Monitors on or before 22 March 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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ARTARMON: 28 Dickson Av
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industrial
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2100
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sold
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LJH Kingsford
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BOURKE: 5 Warraweena St
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retail
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N/A
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HB
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R&H Nyngan
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BOURKE: 5 Warraweena St
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retail
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100
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sold after
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R&H Nyngan
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COOGEE: 252 Coogee Bay Rd
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retail
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T
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2750
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sold
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Park Beachside
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DOUBLE BAY: 7 Brooklyn La
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office
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VP
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2100
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sold
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R&W Double Bay
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KATOOMBA: 113 Lurline St
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residential development site
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N/A
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HB
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Theo Poulos RE
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LEICHHARDT: ? Parramatta Rd
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industrial
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VP
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N/A
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HB
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M J Davis Yagoona
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LILYFIELD: 14 Charles St
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residential development site
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3.51
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4650
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sold
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Savills Sydney
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MARRICKVILLE: 20 Meeks Rd
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industrial
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VP
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831
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sold
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R&H Marrickville
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NEWCASTLE WEST: 1/224-228 Maitland Rd
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retail
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7.04
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543
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sold
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Burgess Rawson Sydney
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NEWCASTLE WEST: 3/224-228 Maitland Rd
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retail
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T
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453
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sold
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Burgess Rawson Sydney
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NORTH SYDNEY: 5/1 Ridge St
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office
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VP
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388
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sold
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R&H North Sydney
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POTTS POINT: 40 Bayswater Rd
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retail
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7.36
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1290
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sold
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Burgess Rawson Sydney
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STANMORE: 1/2-6 Bridge Rd
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retail
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T
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840
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HB
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Burgess Rawson Sydney
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SURRY HILLS: 59 Flinders St
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retail
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780
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sold
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Bresic Whitney
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SWANSEA: 236 Pacific Hwy
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office
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Not disclosed
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sold
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LJH Belmont NSW
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SYDNEY: Lot 37/7-13 Hunter St
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retail
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T
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725
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HB
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Burgess Rawson Sydney
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SYDNEY: 809-810/229 Macquarie St
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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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L&S Sydney Commercial
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TORONTO: 2/52-56 Victory Pde
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retail
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T
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N/A
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HB
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LJH Toronto
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TWEED HEADS: 119 Wharf St
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other
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1200
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HB
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ELD Tweed Heads
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ULTIMO: 159 Broadway
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retail
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7.14
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1121
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sold
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Burgess Rawson Sydney
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