Freestanding Woolworths powers Burgess Rawson’s final portfolio auction of 2022
“Essential services dominate the portfolio with 16 properties leased to three of Australia’s largest, blue-chip, ASX-listed retailers being Woolworths Group, Wesfarmers and Endeavour Group.”
Burgess Rawson’s last three-day portfolio auction event of the year will commence on December 6, and it’s set to be one of their largest with a range of top ASX-listed properties on offer.
The October instalment of the series was another successful outing for the agency, as they sold 91.5% of the presented properties for a total sales volume of $84.6 million. For Burgess Rawson’s Chief Executive, Ingrid Filmer, their last portfolio auction of the year is expected to produce even bigger results.
“We’re forecasting a solid end to the year with the insatiable investor appetite for secure high-profile assets showing no signs of abating,” Ms. Filmer stated.
The headline attraction is a freestanding Woolworths Supermarket in the township of Cooma. Considered the gateway to the Snowy Mountains, the area is a frequent stop for holiday-goers.
According to Ms. Filmer, it is the first time in two years that a freestanding NSW Woolworths supermarket has been publicly auctioned, so the property is expected to garner a great deal of attention.
Burgess Rawson’s last three-day portfolio auction event of the year will commence on December 6, and it’s set to be one of their largest with a range of top ASX-listed properties on offer.
The October instalment of the series was another successful outing for the agency, as they sold 91.5% of the presented properties for a total sales volume of $84.6 million. For Burgess Rawson’s Chief Executive, Ingrid Filmer, their last portfolio auction of the year is expected to produce even bigger results.
“We’re forecasting a solid end to the year with the insatiable investor appetite for secure high-profile assets showing no signs of abating,” Ms. Filmer stated.
In Victoria, strong interest is expected for a Hungry Jack’s investment in Wangaratta which has a new five-year lease signed. A Prahran property currently occupied by Guardian Childcare and Education and a Tabcorp in Kew are also on offer.
For Ms. Filmer and the rest of the Burgess Rawson team, rising interest rates are not deterring the market, with purchasers snapping up assets on yields as low as 3.35%, as demonstrated by the sale of a Brunswick-based Ray White office in Portfolio 156.
“This trend [of low yields] is being reflected across all asset classes where secure, blue-chip tenants are in place.”
Over the past year, Burgess Rawson has transacted more than $1.735 billion in commercial property deals nationally. For reference, prior to their December portfolio auction last year, the agency had facilitated the sale of just over $1.5 billion during 2021. As such, Burgess Rawson have seen a marked increase in sales volume despite the RBA’s cash rate hikes.
Bidding is available via phone, online or in-person at Burgess Rawson’s auction rooms, either at the Sydney Opera House on December 6, Melbourne’s Crown Casino on December 7, and the Hilton Brisbane on December 8.