Two major commercial auction events are set to see 40 commercial properties go under the hammer across the country.
Raine & Horne Commercial will host its first National Auction Event for 2024 on March 14 in the Sydney CBD, featuring a diverse array of quality commercial properties collectively worth close to $80 million.
While Burgess Rawson has their first major commercial property auction event for the year, with more than 25 premium assets going under the hammer at the Sydney Opera House on February 20 and Crown Casino on February 21.
Commercial Network Head at Raine & Horne Commercial, Chris Nicholl, said the auction would showcase properties from various markets, encompassing both capital cities and regional areas.
He said the event would introduce offerings from sought-after markets such as Liverpool in Western Sydney and Hervey Bay on the Fraser Coast of Queensland.
“The commercial district in Liverpool is highly sought-after, thanks to its proximity to the developing Aerotropolis at Badgerys Creek,” Mr Nicholl said.
“In contrast, Hervey Bay is experiencing increased interest from investors in southern states, particularly those seeking quality retail opportunities.
“An example is the booming Springvale Garden Centre on Honey Eater Drive, Walligan, which will be auctioned with a price guide of $2.5 million.”
Among other auction highlights from the Raine & Horne event is a residential unit block at 31 -33 Hume Highway, Warwick Farm, that will be auctioned in one line and with a price guide of $10 million.
Another noteworthy listing is 13 Barclay Street, Marrickville, boasting a 1,641sq m building, a high clearance warehouse, and container access, with a price guide of $12 million.
The Burgess Rawson event will see a number of health assets go under the hammer including the St Kilda Day Hospital and St Kilda South Medical Centre, located at 26A & 26B Dickens Street, Elwood, which comprises two well-presented medical buildings totalling 418sq m, complemented by basement parking for seven cars.
While, St John of God Health Care is selling a strategic industrial investment in the thriving regional town of Ballarat, in Victoria.
Burgess Rawson’s Beau Coulter said there was strong demand for healthcare centres, with investors drawn to stability of tenure and important ‘essential’ services provided by medical and specialised medical facilities.
AuctionWorks Director, Jesse Davidson, will be the auctioneer for the Raine & Horne Commercial National Auction Event and said interest rate stability along with a shortage of quality commercial property stock was set to drive strong buyer enquiries up until Easter.
“The stability in interest rates is fostering confidence, particularly in smaller industrial markets,” Mr Davidson said.
“Last year, rising rates led to a slowdown in this market, especially demand from small businesses.”
“Consequently, enquiries for commercial auctions have been outstanding in the first four to six weeks of 2024, and this augurs well for the upcoming National Auction Event.”
