This article is from the Australian Property Journal archive
THE latest Burgess Rawson’s portfolio auction event in Sydney saw 13 of the 19 properties sold under the hammer.
The event held via auctionworks, recorded the following results:
– Lot 2/26 Kelly St, Scone, NSW sold for $5.025 million – the 3,682sqm McDonald’s site in the Upper Hunter Valley was sold with a 10-year lease from 2010 with options until 2035, returning a net income of $313,220 per annum plus GST and turnover rent.
– 1049 Old Princes Highway, Engadine, NSW sold for $4.65 million – 551sqm property sold with a new lease to long-standing tenant Commonwealth Bank with an option extending to 2026, returning $184,000 per annum plus GST with 4.5 per cent annual rent increases.
– 125 Brisbane Rd, Jimboomba, QLD sold for $2 million – sold with a 10-year lease with options through to 2030 to The Coffee Club, returning $160,111 per annum plus GST with 4 per cent annual increases.
– 11-13 Clarence St, Moss Vale, NSW sold for $9.025 million – sold with a long 15-year lease to IGA extending to 2023 plus 15-year option; balance leased to Australia Post extending to June 2021 plus five-year option. Returns $670,596 per annum plus GST.
– 102 Church St, Glen Innes, NSW sold for $1.86 million – Shell petrol station site sold with new 10-year lease plus options to 2066, returning $145,993 per annum plus GST.
– 26 Kelly St, Scone, NSW sold for $4.6 million – large 4,224sqm service station and convenience store site sold with a 10-year lease from March 2010 with options until 2030. Net income of $348,576sqm per annum plus GST.
– 202-212 Old Cleveland Rd, Capalaba, QLD sold for $4.176 million – Freedom Fuels Australia petrol station site sold with a brand new lease to 2031 plus options to 2046, returning $300,600 per annum plus GST.
– Lot 4, 75-77 Clarence St, Port Macquarie, NSW, sold for $1.92 million – Waterfront office building leased to NSW government on a new five-year lease with option until 2026, returning $70,000 per annum plus GST.
– 9/155 Dolphin St, Coogee, NSW, sold for $1.06 million – Sold with lease to Pie Face expiring August 2020 with five-year option, returning $61,800 per annum plus GST.
– 239 Lakeside Drive, Fairfield Waters, Townsville, QLD, sold for $4.101 million – Brand new 3,552sqm 130-place childcare centre sold with 10-year lease to 2026 plus 15-year option, returning $286,000 per annum plus GST.
– 43 Isabella St, Wingham, NSW sold for $521,000 – 1,835sqm site sold with an eight-year lease to NAB from November 2009 with options until 2021, returning $36,704 per annum plus GST.
– 19 Gill St, Charters Towers, QLD sold prior to auction – 862sqm site leased to Westpac until 2019 with option to 2024, returning $64,890 per annum plus GST.
Australian Property Journal
