Commercial auctions around Australia continued its run of selling half of what was on offer as commercial agents struggle to find competitive stock, according to Australian Property Monitors.
Last week APM’s Commercial Price Guide, reported a total of 32 properties were put up for auction with 16 selling – a neat 50%.
However, commercial agents continue to claim the lack of depth in stock being offered is their greatest problem – not much has changed in the past 12 months…
In Sydney, 20 properties were offered with 12 selling a healthy success rate of 60%.
CB Richard Ellis led the way selling five out of 5.
Top reported price was for a retail investment in Bondi Junction that sold on a yield of 5.35% by CB Richard Ellis for $2.325 million.
Meanwhile, in Melbourne just nine properties were offered for auction – four sold.
However, the bright light was commercial agent Teska Carson selling three out of three.
The highest price $6.56 million, also achieved by Teska Carson, was for a commercial development site in Prahran, which saw competitive bidding between several well known developers.
By Adam Parsons
These auction results are as reported to Australian Property Monitors on or before 12 April 2006 | |||||
Auction Results | |||||
Suburb: Address | Property Type | Yield | Price | Event type | Agent |
New South Wales | |||||
ARTARMON: 55 Hotham Pde | industrial | 2750 | HB | Harlow Property | |
ASHFIELD: 139a Queen St | retail | 645 | sold | R&H Ashfield | |
BANKSTOWN: 543-545 Chapel Rd | other | VP | 950 | HB | Niemeyer Comm/Ind |
BATHURST: Lloyds Rd | commercial development site | VP | 1050 | sold | R&H Bathurst |
BONDI JUNCTION: 251 Oxford St | retail | 5.36 | 2325 | sold | CBRE Sydney |
CHIPPENDALE: 28-30 Queen St | office | VP | 1800 | sold | DTZ Sydney |
DAPTO: 47 Princes Hwy | retail | T | Not disclosed | sold | MM&J Wollongong |
HOMEBUSH WEST: 80-82 Courallie Av | residential development site | N/A | HB | Colliers Intl. Sydney CBD | |
LIVERPOOL: 50 Macquarie St | office | T | Not disclosed | sold | R&H Liverpool |
MARRICKVILLE: 33 Farr St | industrial | Not disclosed | sold | CB Richard Ellis | |
MILSONS POINT: 110 Alfred St S | retail | 900 | HB | C21 Resnekov Realty | |
MILSONS POINT: 68 Alfred St | office | 1110 | sold | Colliers Intl. Nth Sydney | |
NORTH BONDI: 337 Old South Head Rd | medical | 1950 | HB | RW Bondi Beach | |
PADSTOW: 5 Enterprise Av | industrial | N/A | HB | Commercial Prop Grp Btwn | |
POTTS POINT: 16 Kellett St | other | VP | N/A | HB | LJH Double Bay |
ULTIMO: 10/88 Mountain St | office | Not disclosed | sold | CBRE Sydney | |
ULTIMO: 12/88 Mountain St | office | Not disclosed | sold | CBRE Sydney | |
ULTIMO: 9/88 Mountain St | office | Not disclosed | sold | CBRE Sydney | |
UMINA BEACH: 314-320 Trafalgar Av | residential development site | N/A | HB | Colliers Intl. Sydney CBD | |
UNANDERRA: 24 Investigator Dr | industrial | 1100 | sold | Dougmal RE Dapto | |
Queensland | |||||
AIRLIE BEACH: 287 Shute Harbour Rd | office | VP | 6400 | HB | Leave a Comment       Welcome Back! |