The event, held at its head office in Eagle Street, showcased a diverse range of properties, with the results significantly surpassing reserve prices.
RWC Queensland managing partner and director Michael McCullagh said that enormous enquiry levels are an indication of the current appetite for quality assets.
"We received over 300 buyer enquiries and 17 registered bidders across these three auctions, which clearly demonstrates the depth of demand for assets across Brisbane.”
A mixed use development site at 350 Old Cleveland Rd, Coorparoo sold under the hammer for $3,106,000. The 971sqm site sold at a land rate of $3,198/sqm.
McCullagh said that the deceased estate sale attracted 10 registered bidders on the day.
“The buyer was a local investor who was enticed by the property's prime location and secured the asset for future development plans. The sale exceeded expectations by $400,000 or 15 per cent over reserve,” Mr Mccullagh said.
A Redlands medical investment with value-add potential at 127 Link Rd, Victoria Point sold for $1,910,000 under the hammer, representing a passing net yield of 6.07 per cent.
The 1400 sqm property attracted four registered bidders on the day.
“The buyer is a local investor who seized the opportunity to enhance the property's value through strategic repositioning,” Mr McCullagh said.
The sale, which surged more than $300,000 after being announced ‘on the market’, underscores the attractiveness of the asset for investors seeking immediate uplift potential.
An inner-city strata retail investment at 18/145 Racecourse Rd, Ascot sold for $740,000, representing a yield of 7.02 percent.
The 52 sqm property has a new five-year lease in place to a barber shop, and attracted three registered bidders on the day.
“A Sunshine Coast based investor recognized the appeal of steady passive income offered by a new lease in a prestigious location. The property's secure rental growth, with fixed annual increases and bank guarantees, made it an enticing investment opportunity,” Mr McCullagh said.
Michael McCullagh expressed his satisfaction with the outcome of the auction event, stating, "The results of this auction reflect the robustness of the Queensland commercial market. We are thrilled to see such strong investor interest across a variety of properties, demonstrating confidence in the market's resilience and growth potential."
Mr McCullagh added, "Each sale exemplifies the unique opportunities available within Queensland's commercial sector. We remain committed to delivering exceptional outcomes for our clients and contributing to the continued success of the local market."
