Auction clears $20m in assets

Burgess Rawson’s first portfolio sale of the year kicked off with five Queensland properties sold worth almost $20m as vendors geared up for the next auction.

Burgess Rawson partner Andrew Havig said there were six properties up for sale in February with one failing to sell while there were 15 on the block in Brisbane on March 31.

He said vendors held back because of the Omicron virus.

“But it seems we’ve built back up because vendors will be looking at looming interest rate rises and the election, and seem to want to get ahead of the curve,” he said.

The properties sold in February were a medical centre at 182 Beaudesert Rd, Moorooka – $2.975m (6.63% yield); an office/warehouse at 91 Jijaws St, Sumner – $4.12m (6.09%); a retail asset at 2/34 Curumbin Creek Rd, Currumbin Waters – $1.908m (4.46%); an office/ medical property at 102 Bolsver St, Rockhampton – $4.765m (6.49%); and an office/medical asset at 2446 Gold Coast Highway, Mermaid Beach – $6.125m (4.98%).