05/08/2010 - Sale To Test Commercial Waters Once The Election Dust Has Settled
A $20 MILLION Raine & Horne commercial portfolio auction will be the first major post-federal election test for the southeast Queensland market.
Raine & Horne Commercial has scheduled its annual August Auction Collection sale just four days after the August 21 election.
The auction room sale, which this year includes a range of commercial, industrial and retail property, has become the largest single sale event for Raine & Horne Commercial in southeast Queensland.
"We expect the sale to be a farily good indicator of post election buyer sentiment," said Raine & Horne Commercial director Trent Bruce. Offerings include a small shopping centre controlled by Brisbane-based developer PCN Projects.
Metro on Beckett, a complex in Bridgeman Downs on Brisbane's northside, is expected to sell on a yield of between 7 and 8 per cent.
The 647sqm corner block, has 10 separate tenancies and is a mix of convenience stores and offices.
The modern 5 Canopus Street property has 50 car spaces and returns annual rent of $390,000 plus outgoings and GST.
A slightly higher 8 to 9 per cent yield is expected from the sale of four small commercial strata units at Petrie in Brisbane's outer north.
Mr Bruce said the properties at 996 Anzac Avenue were an opportunity for first-time purchasers to get a foothold in the area's emerging industrial market.
They range in size from 68sqm to 1,130sqm, returning between $16,000 and $43,000 per annum.
"These units are in great condition, with long-term leases which give a low level of risk for first time investors," Mr Bruce said.
Six new office suites are on the sale blocks at Hendra, which is close to Brisbane airport, but also only minutes from the CBD.
They are owned by Covecrest Development, a private developer recently active across all parts of the Brisbane market.
The 34 Navigator Place office suites range in size from 244sqm to 1,984sqm.
For further information contact Marketing Agent Trent Bruce on 0423 591 528