Colliers International Rolls Out Second NSW Auction Portfolio for 2009
$110 Million of Property to go Under the Hammer.
Sydney, Australia, May 09, 2009 --(PR.com)-- After the overwhelmingly successful result of Colliers International’s Autumn Auction Portfolio in April, the second NSW auction portfolio has once again drawn strong interest.
A total of 26 residential, office, industrial and retail properties from across NSW valued at more than $110 million are included in the Winter Auction Portfolio 09, the same record-breaking number of assets in the previous campaign and more than double the value.
After intense bidding and the successful sale of 73 and 75 Liverpool Street, Sydney, for $7.706 million at the Autumn Auction Portfolio, a Hong Kong private company K&L Fung Pty Ltd, has included their nearby property in the Winter Auction Portfolio.
The three-storey building at 69 Liverpool Street, is fully leased with a convenience store on the ground floor, a travel agency on the first floor and the top floor comprises two office suites. Steam Leung, Asian Director of Investment Sales at Colliers International said it is expected to fetch around $3 million.
Jon Chomley, National Director of Investment Sales at Colliers International, said the successful marketing strategy was launched to provide a platform for both vendors and buyers to determine the market in a period of few sales.
“Auction portfolio marketing has been a successful strategy for Colliers International as it reaches a wider audience due to their combined marketing budgets and creates confidence in buyers and vendors by providing an open market process which sets the market values,” he said.
“Confidence has been missing from the markets for the last 12 months with few sales occurring to give buyers some direction on where prices should be.
“With the lowest interest rates on offer for decades and the ability to secure quality property at yields that are well above the borrowing rates, investors are looking to property as a secure investment which will provide a better holding return than leaving their money in the bank and one which will carry them through the current economic turmoil.”
Mr Chomley said the sub-$10 million investment property market continues to dominate transaction volumes as the Colliers International Autumn Auction Portfolio showed.
“With more than 50 percent of the properties by both number and value, selling under the hammer and a further 20 percent sold subsequent to the auction the investment sales market across the board is looking at property as a defensive asset class in a time of volatility in the equities markets.
“There continues to be a steady flow of property assets coming to the market with some of them from distressed vendors or from receivers. Whilst these properties are generating strong interest, there is still a market for properties that offer fair value with good lease terms and structures,” he said.
The properties for sale in the Winter Auction Portfolio include a variety of development opportunities and leased and vacant possession with a $230,000 marketing campaign.
The properties listed in the winter portfolio and the appointed agents include:
· 69 Liverpool Street, Sydney – Steam Leung and John Bowie Wilson
· 10 Carter Street, Homebush – Tony Durante and Malcom Tyson
· 421-423 Elizabeth Street, Surry Hills – Paul Fernandes and Steam Leung
· 95-99 Railway Pde, Marrickville – George Danilidis
· 84-90 Parramatta Road – George Danilidis
· 20 Queen Street, Revesby – Jon Orsborn and Gavin Bishop
· Unit 7, 13-15 Burrows Rd South, St Peters – Edward Princi and Matthew Meynell
· 39 Rhodes St, Hillsdale – Edward Princi
· 68 - 70 Bathurst St, Liverpool – Brooke Starkey and Fab Dalfonso
· 789 Botany Rd, Rosebery – James O'Neill and Michael Crombie
· 2 Beach Close, Eastern Creek – Peter Dale and Jack Moroney
· 125 Cowpasture Rd, Wetherill Park – Stephen Wooldridge and Matthew Keeping
· Lot 433 / 431 Bluett Drive Iron Bark Estate Smeaton Grange – Fab Dalfonso
· 3-7 Bessemer St Blacktown – Malcom Tyson and David Morris
· 100-104 George Street, Redfern – Euan Matheson and Brent Dawson
· 3-4 Eden Park Drive – Mark Martin and Geoff Hunt
· 98-104 Gipps Street, Wollongong – Travis Machan
· 6-8 Norton St, Leichhardt – Alex Berentsen
· 19-21 Kenneth St Baulkham Hills – Jonathan Canavan
· 42 Parkside Cres, Campbelltown (medical suites) – Barry Smith
· 43 Parkside Cres, Campbelltown (cafe) – Barry Smith
· 131 Wagonga St, Narooma – Kevin James
· 174 Glenwood Park Drive, Glenwood – Phillip Bradac
· 24 Young Street, Wollongong – Travis Machan
· 1 Cambridge Lane, Chatswood – Tim Fox
· 9/41-43 Higginbotham Road, Gladesville – Michael Wydeman
The Colliers International Winter Auction Portfolio 09 will be held on June 11 and divided between the Sydney CBD office (Grosvenor Place, Level 12, 225 George Street) at 10am and at 2pm at the Parramatta office (Level 8, 20 Smith Street).
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A total of 26 residential, office, industrial and retail properties from across NSW valued at more than $110 million are included in the Winter Auction Portfolio 09, the same record-breaking number of assets in the previous campaign and more than double the value.
After intense bidding and the successful sale of 73 and 75 Liverpool Street, Sydney, for $7.706 million at the Autumn Auction Portfolio, a Hong Kong private company K&L Fung Pty Ltd, has included their nearby property in the Winter Auction Portfolio.
The three-storey building at 69 Liverpool Street, is fully leased with a convenience store on the ground floor, a travel agency on the first floor and the top floor comprises two office suites. Steam Leung, Asian Director of Investment Sales at Colliers International said it is expected to fetch around $3 million.
Jon Chomley, National Director of Investment Sales at Colliers International, said the successful marketing strategy was launched to provide a platform for both vendors and buyers to determine the market in a period of few sales.
“Auction portfolio marketing has been a successful strategy for Colliers International as it reaches a wider audience due to their combined marketing budgets and creates confidence in buyers and vendors by providing an open market process which sets the market values,” he said.
“Confidence has been missing from the markets for the last 12 months with few sales occurring to give buyers some direction on where prices should be.
“With the lowest interest rates on offer for decades and the ability to secure quality property at yields that are well above the borrowing rates, investors are looking to property as a secure investment which will provide a better holding return than leaving their money in the bank and one which will carry them through the current economic turmoil.”
Mr Chomley said the sub-$10 million investment property market continues to dominate transaction volumes as the Colliers International Autumn Auction Portfolio showed.
“With more than 50 percent of the properties by both number and value, selling under the hammer and a further 20 percent sold subsequent to the auction the investment sales market across the board is looking at property as a defensive asset class in a time of volatility in the equities markets.
“There continues to be a steady flow of property assets coming to the market with some of them from distressed vendors or from receivers. Whilst these properties are generating strong interest, there is still a market for properties that offer fair value with good lease terms and structures,” he said.
The properties for sale in the Winter Auction Portfolio include a variety of development opportunities and leased and vacant possession with a $230,000 marketing campaign.
The properties listed in the winter portfolio and the appointed agents include:
· 69 Liverpool Street, Sydney – Steam Leung and John Bowie Wilson
· 10 Carter Street, Homebush – Tony Durante and Malcom Tyson
· 421-423 Elizabeth Street, Surry Hills – Paul Fernandes and Steam Leung
· 95-99 Railway Pde, Marrickville – George Danilidis
· 84-90 Parramatta Road – George Danilidis
· 20 Queen Street, Revesby – Jon Orsborn and Gavin Bishop
· Unit 7, 13-15 Burrows Rd South, St Peters – Edward Princi and Matthew Meynell
· 39 Rhodes St, Hillsdale – Edward Princi
· 68 - 70 Bathurst St, Liverpool – Brooke Starkey and Fab Dalfonso
· 789 Botany Rd, Rosebery – James O'Neill and Michael Crombie
· 2 Beach Close, Eastern Creek – Peter Dale and Jack Moroney
· 125 Cowpasture Rd, Wetherill Park – Stephen Wooldridge and Matthew Keeping
· Lot 433 / 431 Bluett Drive Iron Bark Estate Smeaton Grange – Fab Dalfonso
· 3-7 Bessemer St Blacktown – Malcom Tyson and David Morris
· 100-104 George Street, Redfern – Euan Matheson and Brent Dawson
· 3-4 Eden Park Drive – Mark Martin and Geoff Hunt
· 98-104 Gipps Street, Wollongong – Travis Machan
· 6-8 Norton St, Leichhardt – Alex Berentsen
· 19-21 Kenneth St Baulkham Hills – Jonathan Canavan
· 42 Parkside Cres, Campbelltown (medical suites) – Barry Smith
· 43 Parkside Cres, Campbelltown (cafe) – Barry Smith
· 131 Wagonga St, Narooma – Kevin James
· 174 Glenwood Park Drive, Glenwood – Phillip Bradac
· 24 Young Street, Wollongong – Travis Machan
· 1 Cambridge Lane, Chatswood – Tim Fox
· 9/41-43 Higginbotham Road, Gladesville – Michael Wydeman
The Colliers International Winter Auction Portfolio 09 will be held on June 11 and divided between the Sydney CBD office (Grosvenor Place, Level 12, 225 George Street) at 10am and at 2pm at the Parramatta office (Level 8, 20 Smith Street).
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Contact
Colliers International (Australia)
Michelle Hutchison
+61 2 9257 0210
www.colliers.com.au
Michelle Hutchison
+61 2 9257 0210
www.colliers.com.au
Contact
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