Raine & Horne Commercial will host its first national auction event for 2024 on March 14.
This significant event aims to present an array of high-quality commercial properties, collectively valued at close to $80 million, at a time when commercial inventory is notably scarce, and buyer demand continues to escalate.
Jesse Davidson (pictured above) of AuctionWorks will lead the auction, which will be hosted both in rooms at a prestigious Sydney CBD venue and online, catering to a wide audience of potential buyers.
The auction will feature a range of investment opportunities, vacant possessions, and development prospects, with values stretching from $0.5m to $15m.
Chris Nicholl, commercial network head at Raine & Horne Commercial, highlighted the event’s broad market appeal, showcasing properties from bustling urban centers to sought-after regional locations such as Liverpool in Western Sydney and Hervey Bay on Queensland’s Fraser Coast.
“The commercial district in Liverpool is highly sought-after, thanks to its proximity to the developing Aerotropolis at Badgerys Creek,” Nicholl said.
“In contrast, Hervey Bay is experiencing increased interest from investors in southern states, particularly those seeking quality retail opportunities. An example is the booming Springvale Garden Centre on Honey Eater Drive, Walligan, which will be auctioned with a price guide of $2.5 million.”
Among the auction’s highlights are a residential unit block on Hume Highway, Warwick Farm, with a $10 million guide price, and a unique property in Marrickville featuring a high clearance warehouse, both presenting rare opportunities for investors and developers alike.
With the aim to exceed the $48m sales figure from the previous national auction event in November, Nicholl expressed optimism, citing stabilising interest rates and positive market indicators as key factors contributing to heightened buyer and seller confidence.
Echoing this sentiment, Davidson underscored the strong buyer inquiries driven by the steady interest rates and the current shortage of quality commercial properties, setting the stage for a successful auction.
Daniel Krobot, managing director of Raine & Horne Commercial Macarthur, shared his enthusiasm for the upcoming event, noting the significant buyer interest in industrial and office properties due to the limited supply in the market. Krobot's listings include a freehold office in Campbelltown and an industrial site in Gregory Hills.
The National Auction Event is set to occur both on-site at AuctionWorks, Mezzanine Level, 50 Margaret Street, Sydney, and through an online platform. For further information on the properties featured in the National Auction Event or to sign up as a bidder, please visit the official website.
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