Rare Australia Post property to go under hammer at Burgess Rawson portfolio auction in Sydney
A rare Australia Post-leased outlet is one of about 24 commercial investment properties going under the hammer at the Burgess Rawson portfolio auction to be held in Sydney on Tuesday.
The wide range of assets in NSW and Queensland up for grabs includes service stations, restaurants and childcare centres, with prices starting from about $600,000 through to more than $7 million.
Many of these investments are subject to long-term leases of up to 20 years.
Some of the more popular investments that have had strong investor interest include a Red Rooster restaurant at Goulburn, which is expected to sell for about $1.3 million at a net yield of 6.75 per cent, Burgess Rawson said.
Well-located service stations continue to remain in favour, with a 7-Eleven at Minchinbury proving to be sought after because of its large landholding and guaranteed 4 per cent annual rent increases. Current buyer interest is in the region of about 6 per cent yield net, which is a price of nearly $6 million, it said.
An array of childcare centre investments have also attracted keen interest, with prices ranging upwards of $600,000 to more than $7 million, on anticipated yields of 5 to 7 per cent.
A Sydney CBD retail property near Martin Place leased to Mercado restaurant, also attracted fierce competition and
sold before the day for $5.3 million on a 4.8 per cent yield.
The auction is being held at Doltone House Hyde Park, 181 Elizabeth Street, Sydney from 11am.
