- Auctions worth a combined $150M in Melbourne and $60M in Sydney
- Headline item in Melbourne auction is a Bunnings site for under $25M
- Childcare, fuel, fast food, government and supermarkets feature
Investors will have the rare opportunity to secure a Bunnings investment for under $25 million when Burgess Rawson holds its final portfolio auction for the financial year next month in Melbourne.
The Bunnings investment will headline the largest portfolio of properties ever assembled when 31 properties totalling $150 million go under the hammer at Crown Melbourne on 23 June.
The day before, over in Sydney, 28 assets will be auctioned on a combined portfolio of $60 million. Price expectations there range from $650,000 to $9 million for the individual assets.
Rare Bunnings opportunity
“With most essential service sectors represented – childcare; fuel; fast food; government; supermarkets – and price expectations from $750,000 right through to $19 million, this portfolio truly showcases the strength of commercial property,” said Melbourne Director Billy Holderhead.
The new Bunnings warehouse is located in southeast Queensland in what is described as a “booming growth corridor”.
“The average freestanding Bunnings sale price since January 2020 is $51 million. So, to offer a newly constructed property with a brand-new lease for circa $19 million is exceptional. This is a great opportunity to secure a property with arguably the best tenant in the retail freehold investment market.”
Billy Holderhead, Melbourne Director, Burgess Rawson
Other highlights include a new KFC restaurant in the Logan region of Queensland; a fully leased shopping centre 12 kms from Brisbane’s CBD; and three retail fuel investments across Victoria and Western Australia.
Childcare is also a key part of the auction, having enjoyed 100% clearance rates across all auctions so far this year.
“While childcare investment had been traditionally seen as a specialist asset class, experienced commercial investors are increasingly looking at childcare, driving even more demand in the first quarter,” said Melbourne Director and childcare specialist Adam Thomas.
The June portfolio includes six childcare investments across Victoria, Queensland and Western Australia with prices ranging from $2 million to $7 million.
In a first for Burgess Rawson, Queensland investors will have the opportunity to bid on the portfolio from the Hilton hotel in Brisbane.
“The Hilton is our new home ground in Brisbane,” said Mr Holderhead. “With increased demand from Queensland investors, we are now offering a complete auction room experience with the auctioneer relaying bids to the main auction room in Melbourne.”
While Burgess Rawson’s Melbourne auction is held on 23 June, over in Sydney, 28 assets will be auctioned a day earlier.
Properties up for auction in Sydney include several assets leased to KFC, petrol stations, banks, clinics, supermarkets and a development block for 5 apartments with ocean views.