Woolworths Nelson Bay and Woolworths Lisarow were completed in 2016, included a single specialty shop and featured new 12-year Woolworths supermarket lease terms and were sold by Colliers International agents James Wilson and Lachlan MacGillivray.
“There has been increasing competition from offshore private investors and funds looking to secure limited highly prized supermarket investments,” the Colliers agents said.
In Sydney, Burgess Rawson’s October Portfolio auction saw $29 million of commercial property assets across Queensland, NSW and the Australian Capital Territory sold.
Achieving a clearance rate of 57 per cent, 12 properties were snapped up with standout sales including a Jaycar site in Bondi Junction, a real estate office and cafe in Concord, a shopping centre in Bonnett Bay and an Autobarn and hotel site, both in Parkes.
According to Burgess Rawson director, Dean Venturato, the demand for these types of properties across the eastern seaboard and in rural areas remain strong, despite whispers of the market softening.
“The sale of the Jaycar site in Bondi Junction clearly demonstrated the strength of the eastern suburbs’ market – just four years ago this property sold for $2.04 million and it was purchased for more than double that at $4.44 million on a 4.89 per cent yield,” he said.
The highest sale was a real estate office and cafe at Concord, Sydney, at $5.5 million, on a yield of 4.88 per cent.