Petrol stations and car dealerships on block at portfolio auction
Petrol stations, fast food outlets, car dealerships, childcare centres, pharmacies, stunning historic buildings and even a property leased to an Australian Defence Force contractor will go under the hammer next month at Burgess Rawson’s latest Investment Portfolio Auction campaign.
Twenty-two commercial properties across five states and at price points ranging from $700,000 to more than $6 million will be up for sale at Crown Casino on Wednesday, April 3 or through expressions of interest.
A string of seven Tasmanian properties leased as car dealerships will be auctioned individually, in what shapes as a rare opportunity to corner a large portion of the state’s car retail property market in one fell swoop.
Commercial Insights: Subscribe to receive the latest news and updates
One of Nando’s top three growth stores nationally will headline the offerings for investors, with the North Hobart outlet expected to be highly sought-after amid a sizzling national fast food market.
And three service stations operated by major fuel retailers across NSW and Western Australia are also up for grabs, all with favourable long-term leases.
Burgess Rawson sold more than $45 million worth of commercial property at its first Portfolio Auction of 2019 in February, in a strong indication of the positive sentiment around the commercial property market early in the year.
Burgess Rawson director Shaun Venables says the latest selection of properties represents excellent buying at price points for all investors, from first-time buyers to major players.
“The broad range of asset classes and varying price points on offer all have one thing in common, in that all are occupied by high quality tenants with favourable lease terms on prime landholdings,” Venables says.
“The media continues to harp on falling house prices and an up and down share-market, but we are again seeing investors turn to quality assets which will provide predictability and see out any perceived phase in the market.”
Also to be auctioned on the day are three new or near-new childcare centres at Rowville and Bannockburn in Victoria, and Darling Heights, near Toowoomba in Queensland. All three centres have fresh 15-year leases to established operators, including G8 Education.
A retail property with a lease to a longstanding regional Amcal pharmacy will be offered up in Shepparton, while a significant Sale property underpinned by a lease to Australian Defence Force contractor Pilatus represents an outstanding entry-level investment, with a price tag of circa $900,000-plus.
Meanwhile, a stunning and prominent historic Launceston building leased to a government body will be sold through expressions of interest, having recently undergone a $1.5 million renovation – almost half of the property’s expected price tag.
Burgess Rawson’s 127thInvestment Portfolio Auction will be held at Crown Casino’s River Room at 11am on Wednesday, April 3.