Property Listings – QLD
BURGESS RAWSON’S LIVE PORTFOLIO AUCTION IN BRISBANE.
QUEENSLAND
Brisbane’s live auction resulted with 11 of the 15 properties being sold collectively for more than $25 million and an average yield a tick over 6%.
Of all the properties on offer, 6 were petrol stations (or 7-Eleven stations) and all but one sold with attractive lease terms and yields. The key takeaway here illustrating the tenacious demand for essential service assets that have high quality tenants and long-term leases in industries that continue to operate strongly throughout adverse world events. As Burgess Rawson Head of Agency Adam Thomas said: “Two of the petrol retail leases were extraordinary – going to the mid-2030s with options to extend to the eighth decade of this century.”
7-Eleven in Nambour was the highest value asset sold at $4,825,000 and a 5.29% yield, followed by the Kedron Puma service station. This sold for $4,310,000 and a 5.75% yield with a long term lease in place until 2035 with options to 2075. The Bundaberg Puma service station also sold with a similar yield at 5.41% for $2,570,000. Burgess Rawson have clearly enjoyed another successful portfolio auction this month and have scheduled the next one for May 10, 11 and 12.
68 –April / May 2022
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