Written by Sarah Broad
$21 million of Queensland property has been snapped up by savvy interstate investors who are chasing strong returns and value in the commercial property market, according to Burgess Rawson Queensland who sold all five properties listed for auction in Sydney and Melbourne this week.
Burgess Rawson Queensland Director, Michael Collins, said Queensland property presented significant value to high-net-worth investors who are chasing strong returns and long-term security away from the sharemarket.
“All the Queensland properties listed for auction yesterday sold at a premium, with all being purchased by interstate investors, highlighting the strong interest in commercial property in both metro and regional areas of the state,” Mr Collins said.
“Interstate investors are chasing property for its strong returns and long-term income potential, and at the moment Queensland is the state that’s attracting significant interest.
“Across our auction portfolio this week retail assets with secure long-term tenants attracted the most interest, while our expertise in service stations continued to strengthen. The sale prices achieved and the strong yields presented for each property showcased just how strong the Queensland market is right now.”
The Caltex Service Station at North Lakes, one of Brisbane’s fasted growing communities, was the strongest for the Queensland team yesterday, selling for $8,283,304 at a yield of 5.21%.
Burgess Rawson Queensland Auction Results
|Caltex, North Lakes||Sold||$8,283,304||5.21%|
|Red Rooster, Rockhampton||Sold||$1,600,000||5.71%|
|Red Rooster + Retail, Hervey Bay||Sold||$6,400,000||7.01%|
|Medical Centre, Bribie Island||Sold||$2,300,000||7.36%|
|Total Tools, Ipswich||Sold||$2,325,000||7.56%|