Buying Commercial Property

The majority of the strata apartments at Queensland’s $80 million Peppers Airlie Beach resort, as well as the resort’s management rights, are on the market for just $15 million as part of a receiver sale.

It was a return to form at this week’s Burgess Rawson portfolio auctions, with a Coles supermarket and Bunnings Warehouse in regional Victoria, as well as six United petrol stations, all selling under the hammer on tight yields.

Commercial property yields of more than 10% have been almost unheard of this year, but a spa retreat near Mount Hotham in the Victorian snowfields could be about to enter rare territory.

Pumped-up demand for office investments is behind property and funds manager GDI Property Group’s decision to sell a pair of office towers in the Sydney and Brisbane CBDs.

Vicinity Centres’ neighbourhood shopping centre sell-off has continued with the sale of Tweed Mall to ASX-listed Elanor Investor Group for more than $81 million.

Investors are looking to capitalise on the increasing demand for places at childcare centres, with interest in developing and owning the properties utilised by the centres on the rise.

Bunnings will leave seven of its stores to swoop on sites previously occupied by Masters, as the fallout from Masters’ failed home improvement division continues.

A Bunnings Warehouse and a fleet of petrol stations owned by independent fuel retailer United are the prized picks at the latest Burgess Rawson auctions.

Perth syndicate Kerching Capital has picked up its third IGA-anchored shopping centre in Queensland, buying Sandstone Village for $10.4 million.