20 February: Doltone House in Sydney, Burgess Rawson’s first Flagship Portfolio Auction of the year achieved positive results. The day’s sales totaling $46,538,000 resulted in an appealing clearance rate of 85% and an extremely strong average yield of 6.14%.
Competition was fierce amongst bidders, with two CBD Commonwealth Bank properties the stand-outs; CBA Redfern sold for $4,100,000 at a yield of 3.95%, while CBA Five Dock attracted 164 bids and sold for an impressive $2,550,000 at a yield of 4.45%. A Star Track facility in Unanderra (Wollongong) sold for an impressive $9,600,000 with the successful bidder in the room.
A Tannum Sands QLD asset, tenanted to KFC, sold for $2,010,000 at a yield of 5.47%, while a Lake Illawarra 7-Eleven property sold under the hammer for an impressive $5, 615,000 a yield of 5.85%.
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