Trio of SA Options Amid Auction Blitz

Published on: 21/06/2022

Three properties in South Australia will go under the hammer at Burgess Rawson’s upcoming portfolio auction. They include the CBD headquarters of GPS vehicle and fleet tracking systems provider Fleet Complete, a Liberty petrol station on Marion Rd in Marion and the New Whyalla Hotel in Whyalla. Located on Wright St, the two-level Fleet Complete property features 505sqm of office area and is underpinned by a five-year lease with a five year renewal option to 2031. The lease generates a net annual income of close to $184,000. A 15-year lease to Viva Energy, with options to 2051 underpins the petrol station investment, which has a net annual income of more than $315,000. The pub, on Gowrie Ave, comes with a new 10-year lease with options to 2072. It has 32 gaming machines and 14 hotel suites, and is located on an expansive 4,599sqm corner site in the heart of Whyalla. The property has a net annual income of $420,000.

More than 50 commercial properties across the country will go under the hammer at this month’s Burgess Rawson auction event, including childcare, medical, government and fast food properties, banks, fitness centres, supermarkets and offices. Burgess Rawson chief executive Ingrid Filmer said the auction events continued to attract a wide mix of investor groups.

“Despite the many moving parts of an economy in recovery mode and a new government, demand for commercial real estate will continue to be strong because it offers greater stability and higher yields compared to other forms of investment,” she said.

“Even rising inflation and interest rates have so far had little impact on buyer demand and prices, as our May results have demonstrated.” Burgess Rawson’s three day auction event kicks off in Sydney today. The Fleet Complete and Liberty petrol station properties will go under the hammer in Melbourne tomorrow, followed by an auction in Brisbane where the New Whyalla Hotel will feature on Thursday. Bidding is available online and via phone.

Caroline Riches, Real Commercial


Stay up to date with our latest portfolio auctions & insights