Burgess Rawson’s first auction event for the year achieved an impressive $43.04 million in sales today and a strong clearance rate of 70 per cent said, Burgess Rawson CEO Ingrid Filmer.
Burgess Rawson’s first auction event for the year achieved an impressive $43.04 million in sales today and a strong clearance rate of 70 per cent said, Burgess Rawson CEO Ingrid Filmer.
The highest transaction was a major medical centre at 14 Highfields Circuit, Port Macquarie which sold through National Partner, Yosh Mendis and Geoff Sinclair for $14.2 million showing a tight yield of 5.98 per cent.
Mr Mendis, along with Rhys Parker, also sold the landmark Reece outlet in Batt Street, Jamisontown for $13.25 million providing a return of just 5.13 per cent.
Mr Mendis said both properties attracted strong interest throughout the campaign generating multiple bids on the day.
Elsewhere, the Westpac Bank in Beaumont Street, Hamilton sold for $4.325 million reflecting a yield of 5.09 per cent.
Mr Mendis said the strong results and solid 70 per cent clearance rate demonstrate Burgess Rawson's leadership in commercial property auctions across all price points.
Investors seeking prime opportunities in healthcare, early education, fast food, government, industrial, and retail sectors will have the opportunity to secure an asset at Burgess Rawson’s Melbourne event to kick off tomorrow at 10.30 am at Crown Casino.
Health is high on the agenda with local GP, Dr Vasily Lebedev, officially listing his premium medical asset in Elwood for sale.
The St Kilda Day Hospital and St Kilda South Medical Centre, located at 26A & 26B Dickens Street, Elwood comprises two well-presented medical buildings totalling 418 sqm, complemented by basement parking for seven cars.
The St Kilda Day Hospital is securely leased to the international not-for-profit group, MSI, while the medical centre, which is leased to St Kilda South Medical Centre, has been in operation since 1986 and is leased with options until 2038. The asset offers attractive net lease structures, with tenants covering all usual outgoings, excluding land tax. The net annual rental is $441,089.
Elsewhere, St John of God Health Care is selling a strategic industrial investment in the thriving regional town of
Ballarat, in Victoria. Burgess Rawson’s Jamie Perlinger and David Napoleone, who are overseeing the sale of the property at 33 Grandlee Drive, Wendouree, reported significant interest from investors across the country within days of listing the asset.
St John of God Health Care boasts a robust network of over 27 hospitals spanning Australia and New Zealand, establishing its position as a leading Catholic not-for-profit healthcare provider. Further, the property is crucial to the group’s operations as a network support facility which manages stock for their Victorian locations.
Founded in Western Australia in 1895, the organisation operates a diverse range of healthcare services, including medical, surgical, and maternity care, along with hospitals, home nursing, and social outreach services throughout Australia. The property was built and first occupied by St John of God in 2007 and they are offering the property on a leaseback basis, complete with a new seven-year lease at an initial net annual rental of $220,000.
In Perth, the brand new 7-Eleven and Hungry Jack’s investments in Tamala Lane, Yanchep, within the new Yanchep Village recently constructed by FRP Capital offer strong income streams.
Located on a prominent 2,032 sqm freehold corner site with impressive triple frontage, the 7-Eleven is securely underpinned by a brand new 12-year net lease to November 2035 plus options to 2060. It also offers a strong annual net income of $356,500.
The Hungry Jack’s is situated on a prime 2,289 sqm freehold site with huge highway exposure, offering a brand new 10-year lease with a net annual income of $210,000. Within the heart of Yanchep Village, both properties are strategically positioned amongst other major national retailers including Coles, McDonald’s and KFC. They are also within metres of the Woolworths-anchored Yanchep Central shopping centre.
Related Reading:
Sydney suburban early education asset sold 5.32% by Burgess Rawson | Commo.
Burgess Rawson launches Australia's first major commercial property auction event for 2024 | Commo.
St John of God Health Care industrial investment for sale by Burgess Rawson | The Industrialist