The campaigns, run across Beenleigh, North Ipswich, Robina and Emerald, drew a combined 1,770 enquiries and 37 registered bidders, with each retail investment selling at auction.
RWC Retail’s Pablo Routledge, Michael Feltoe and Lachlan O’Keeffe negotiated the four sales and said enquiry levels have reached new highs in the post-rate-hike landscape.
“There is a wave of new capital in the sub $2 million space that is cashed up and eager to purchase” Pablo Routledge said.
“These buyers are chasing simple, passive retail investments with net leases, solid tenants, and steady income. All of these recent campaigns had that, and it showed in the results.”
The first of the group was an entry-level tyre and auto investment in Beenleigh, which attracted 558 enquiries and sold under the hammer for $1,300,000 on a 5.81 per cent yield.
In North Ipswich, a freestanding fast food building leased to Bronco Burgers drew 269 enquiries and six registered bidders, selling at $890,000, a yield of 5.62 per cent.
That was followed by the sale of a Gold Coast strata retail asset in Robina leased to Ranier Schoolwear, which sold for $1,125,000 after 449 enquiries and seven active bidders, selling at a 5.74 per cent yield.
The most recent result was the Civic Complex in Emerald (pictured above), a fully leased retail centre on a 2,058sqm corner site in the regional Queensland town’s CBD. The campaign concluded with 494 enquiries and 10 registered bidders, selling for $1,782,000 at a yield of 6.61 per cent.
Michael Feltoe said many of the active buyers across the four campaigns were looking for safe, income-driven holdings.
“Three of the four investments were purchased by first-time entrants to the commercial property market. There’s a big pool of these new private buyers competing on assets at this pricepoint which is leading to some ballistic Auctions. And that buyer pool is only getting bigger,” Michael Feltoe said.
Media contact:
