Sydney buyers last minute Christmas shopping

IN excess of $100 million worth of commercial properties were sold under the hammer yesterday with the Government Property NSW reaping a huge windfall as investors made a dash for last minute shopping.

In total 43 properties were offered by auctionWORKS with auctioneers Jesse Davidson and David Scholes selling 33 properties, reflecting a clearance rate of 76.7%.

REINSW auctioneer of the year Jesse Davidson said the result was well above the residential and commercial averages.

“Today was an incredibly successful day of sales for auctionWORKS. Just over $101,000,000 worth of property was transacted today.

“Notable sales were the Government Property NSW properties. The final result was 12/13 sales for Government Property NSW.

“This was incredibly encouraging showing that there is still great strength in the commercial property market. These sales ranged from potential development opportunities to low risk investments,” he added.

• 755 Anzac Parade Maroubra sold for $3,530,000 by JLL’s Ari Danas. The 275-sqm property was sold with a lease to 7 Eleven on the ground floor returning $149,852. The first floor is vacant with potential income of $60,000 p.a.
• 39 & 60 Culverston Avenue Dehham Court sold for $6,700,000 by Knight Frank’s Tyler Talbot and Alex Jaafar. The property is a 10.445ha residential subdivision site.
• 31-33 Swete St Lidcombe sold for $4,345,000 by JLL’s Leslie Cheng and John Macree. The 2,049 sqm site is improved by a 330 sqm building and was sold with vacant possesion.
• 136 Cary St Toronto sold for $3,400,000 by JLL’s Leslie Cheng and John Macree. The 4,114 sqm site comprises a 320 sqm building.
• 203 Maroubra Rd Maroubra sold for $3,450,000 by Laing & Simmons’ Sam Karatasas. Occupying a 240 sqm site, the two-level building is leased to three tenants including a doctor’s surgery, chemist and dentist returning $194,943 p.a.
• 11-13 Hely St Wyong sold for $1,150,000 by JLL’s Leslie Cheng and John Macree. The 1,472 sqm site is improved by a 450 sqm building and was sold with vacant possession.
• 270 Willoughby Rd Naremburn sold for $2,820,000 by LJ Hooker’s Tim Abbott and Scott Stephens. The 525 sqm building was offered for the first time in 40 years and is one of the largest commercial land holdings in Naremburn.
• 10 Prince St Grafton sold for $935,000 by Gerard Cole Property Consultants’ Richard Thomas and Gerard Cole. The 721 sqm property offers development potential (STCA).
• 315/55 Miller St Pyrmont sold for $$323,000 by CBRE’s Julian Choo and Daniel Courtnall. The suite comprises 47 sqm of space.

Meanwhile the Burgess Rawson portfolio auction had 20 sales.

• 2 Bradwardine Rd Bathurst Sold for $1,420,000. The 8,000 sqm land area is improved by a 617 sqm building and was sold with a brand new 5 + 5 + 5-year lease to the NSW government returning $70,001 p.a.
• 16 North Avenue Cessnock Sold for $835,000. The 1,329 sqm site comprises a 204 sqm building and was sold with a brand new 5 + 5 + 5-year lease to the NSW government returning $42,735 p.a.
• 1 Beendooley St Mittagong Sold for $1,878,000. The 21,500 sqm site comprises a 1,267 sqm building and was sold with a brand new 5 + 5 + 5-year lease to the NSW government returning $81,588 p.a.
• 81-85 York St Penrith Sold for $5,710,000. The 12,262 sqm site is improved by a 1,328 sqm building and was sold with a brand new 5 + 5 + 5-year lease to the NSW government returning $335,760 p.a.
• 11 Greenway Drive Tweed Heads Sold for $1,625,000. The 4,293 sqm site comprises a 421 sqm building and was sold with a brand new 5 + 5 + 5-year lease to the NSW government returning $96,000 p.a.
• 346 Harrison St Deniliquin Sold for $381,000. The 1,519 sqm site comprises a 201 sqm building and was sold with a brand new 5 + 5 + 5-year lease to the NSW government returning $23,445 p.a.
• 3-5 & 15 King St Grafton Sold for $1,510,000. The 1,558 sqm site comprises a 292 sqm building and was sold with a brand new 5 + 5 + 5-year lease to the NSW government returning $83,668 p.a.
• 242 Nolan Rd Undanderra Sold for $3,335,000. The 16,635 sqm site comprises a 1,548 sqm building and was sold with a brand new 5 + 5 + 5-year lease to the NSW government returning $224,100 p.a.
• 73 South Liverpool Rd Heckenberg Sold for $1,434,000. A 26-place childcare centre returning $78,676 p.a.
• 112-114 Gordon St Port Macquarie Sold for $4,080,000. A 1,719 sqm freehold leased to Hungry Jack’s returning $207,500 p.a.
• 161 The Entrance Rd Erina Sold for $6,570,000. A Caltex service station returning $372,732 p.a.
• 208-210 Pacific Highway Coffs Harbour Sold for $6,210,000. A Coles Express petrol station returning $380,000 p.a.
• 121 Banna Avenue Griffith Sold for $1,925,000. Another Coles Express service station.
• 300 Sandgate Rd Shortland Sold for $4,550,000. A 7 Eleven petrol station returning $276,000 p.a.
• 216-218 Beardy St Armidale Sold for $8,100,000. A 2,000 sqm retail centre leased to Dan Murphy’s and Dick Smith with 90 car parking spaces returning $553,217 p.a.
• 129-139 Eighth Avenue Home Hill Sold for $4,585,000. A 1,570 sqm IGA supermarket on a 4,510 sqm site returning $337,750 p.a.
• 18-20 The Entrance Rd The Entrance Sold for $3,000,000. A 340 sqm retail with first floor residence returning $216,103 p.a.
• 559 Hume Highway Carramar Sold for $3,142,000. A 4,248 sqm site which is an existing fast food restaurant with the potential for up to 14 dual occupancy residences.
• 115 Munibung Rd Cardiff Sold for $2,900,000. An industrial investment with a brand new 10-year lease to national tenant Think Water returning $200,000 p.a.
• 212 Pacific Highway Charlestown Sold for $1,350,000. A 379 sqm retail property leased to ANZ Bank on a net income of $111,280 p.a.

Australian Property Journal