Burgess Rawson offers huge $147M Auction Portfolio to conclude 2020
This week, national commercial property agent Burgess Rawson is concluding 2020 with its largest Portfolio Auction campaign on 8 and 9 December.
With an expected combined value of more than $147 million, a huge portfolio of 45 properties will be brought to market.
Burgess Rawson Director Raoul Holderhead said the portfolio includes the likes of 7-Eleven, Starbucks, Viva Energy, Red Rooster and Dan Murphy’s.
“This is a true blue-chip portfolio including well known brand tenants, new constructions and long-term leases,” said Mr Holderhead. “With properties across the eastern seaboard, this is a fantastic view of the very best on the Australian market right now.”
Essential services will dominate the auctions including retail fuel, fast food, childcare, medical, liquor and banking.
Burgess Rawson Sydney Director Dean Venturato said that price expectations range from $500,000 to $11 million, ensuring the portfolio will have wide appeal.
“The breadth of the listings is unparalleled right now,” said Mr Venturato. “There is a large number of underbidders from previous campaigns that are keen to secure an investment before the end of the year. This includes entry level investors right through to those in the sub $12 million bracket.”
Mr Venturato said that the iconic Portfolio Auctions have always been a solid litmus test of the commercial property market.
“Demand for high quality freestanding or single tenanted properties has intensified over the past 12 months,” said Mr Venturato. “Properties leased to tenants that have traded through the various stages of lockdown and leased to essential services, government, fast food or ASX-listed tenants are most sought after.”
Mr Holderhead added that there is a groundswell of excitement for this final campaign of the year.
“As a business, we have navigated COVID restrictions successfully and our clients have adapted,” said Mr Holderhead. “Our data shows that investors embraced changing conditions such as online bidding and virtual inspections to secure their investments.”
Mr Venturato agreed, stating that with restrictions easing and borders reopening there is a renewed sense of optimism.
“Interest in this portfolio is strong,” said Mr Venturato. “We are looking forward to ending 2020 on a high note after what has been an extraordinary year.”
The Sydney Portfolio Auction will be held on Tuesday 8 December with the Melbourne Portfolio Auction on Wednesday 9 December. Bidding is available online, via phone or in person. Further details and the full list of properties can be found here.