Burgess Rawson announces largest February Portfolio Auction
The momentum for commercial property investment is set to continue with Burgess Rawson announcing a $62 million portfolio at its first Melbourne Portfolio Auction for 2021 on 24 February.
Burgess Rawson Director Raoul Holderhead said that the strength of the portfolio is a great indicator of the market’s outlook.
“Like many industries, commercial property traditionally starts a little slower at the beginning of the year. However, this year we have really hit the ground running,” said Mr Holderhead. “When talking to investors and sellers alike, there is a high level of motivation and interest. With lighter volume in 2020, investors seem very eager to get things going.”
Burgess Rawson’s iconic Portfolio Auctions are often seen as a litmus test of the market.
“To commence our Portfolio Auction program with a solid line-up of 24 properties shows the confidence in the market and Australia’s economy more broadly,” said Mr Holderhead.
After a near perfect success rate in 2020, Burgess Rawson has very few listings remaining from last year.
“Consequently, there is a large pool of underbidders that are actively searching and ready to invest.”
Essential service sectors that traded through the pandemic are still most coveted, with Mr Holderhead predicting that childcare, retail fuel, supermarkets, liquor and medical will be the big winners of the first quarter.
“Childcare is headlining this portfolio with six centres available, including an exceptional centre at Mount Martha mere metres from the beachfront,” said Mr Holderhead.
Demonstrating the diversity of the portfolio, the expected price range is $485,000 to $8.7 million.
“There are several fantastic entry level investments available,” said Mr Holderhead. “If first time investors were looking to dip their toe in commercial property this year, the portfolio offers a variety of essential service opportunities including liquor and medical.”
Additional highlight properties include a Liquorland at Trinity Beach, Domino’s anchored Retail Centre in Sunnybank, Queensland; Wattyl Paints in Port Adelaide; Autobarn at Eltham, Victoria and a brand-new Viva/Shell anchored Highway service centre at Torquay in Victoria.
Burgess Rawson’s Investment Portfolio Auction will be held from 11am AEDT on 24 February at Crown Casino Melbourne.