Portfolio Collection 146: Australia’s Premier Commercial Real Estate Investments
Welcome to Portfolio 146
We certainly concluded June with a bang, bringing our largest portfolio of properties ever assembled to auction across three locations; Sydney, Melbourne and Brisbane.
This campaign became a live case study in managing the impacts of COVID, with a number of border closures and outbreaks across Australia just prior to the auction events.
But we didn’t let that stop us and with a huge effort from the team, we held the three auctions across two days without a hitch.
The results were outstanding with a total of 40 properties selling for combined $156,100,500.
A key highlight was the sales of a newly constructed Bunnings at Plainland in Queensland, which sold for 11% above reserve. This resulted in the strongest Bunnings result ever for a traditional land and buildings investment, changing hands for $22.2 million on a yield of 4.21%.
We anticipate that the momentum will continue this month with a large number of unsatisfied bidders. Our sales data from the June campaign shows that demand is outstripping 6:1.
We look forward to bringing more great investment opportunities to market this financial year and as always, whether you are looking to divest or invest, please don’t hesitate to reach out to the team.
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