Almost $30 Million in Retail Assets Change Hands at Portfolio Auction – realestatesource https://www.realestatesource.com.au Commercial and residential property news Mon, 29 Oct 2007 11:47:28 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Almost $30 Million in Retail Assets Change Hands at Portfolio Auction – realestatesource https://www.realestatesource.com.au 32 32 Almost $30 Million in Retail Assets Change Hands at Portfolio Auction https://www.realestatesource.com.au/almost-30-million-in-retail-assets-change-hands-at-portfolio-auction/ Mon, 29 Oct 2007 11:47:28 +0000 http://realestatesource.com.au/wordpress/almost-30-million-in-retail-assets-change-hands-at-portfolio-auction.html More than 450 people squeezed into a Crown Casino function room earlier this week, to watch almost $30 million of retail assets in Victoria, Tasmania and New South Wales change hands at Burgess Rawson’s latest portfolio auction.

]]> Five Victorian properties, including small retail assets in Hawthorn, Brighton and Keysborough, sold for a total of $3.2 million, on yields of between 6.25 per cent and 7.73 per cent. The most expensive asset sold was a Woolworths in Nambucca Heads, NSW which sold for $9.3 million on a yield of 6.1 per cent.

Elsewhere in Melbourne this week, Fitzroys sold a retail building with development potential at 218 – 224 High Street Ashburton for $3.22 million, against a reserve of $2.6 million. Fitzroys agent Geoff Emmett said the property sold with town planning approval for a three-level building which would include two shops and five apartments.

In Canterbury’s Maling Road retail strip, GormanKelly sold a vacant shop for $1.55 million.

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