Golden buzz for pre-Christmas auctions

A trio of properties in Victoria’s “golden triangle”, a prime piece of Prahran retail and a childcare centre in Australia’s third-fastest growing suburb are on the block this week at Burgess Rawson’s latest investment portfolio auctions.

Dozens of properties are up for grabs on Tuesday in Sydney and Wednesday in Melbourne in the agency’s final portfolio auctions of the year.

And three offerings in Victorian regional hubs Bendigo, Echuca and Shepparton will be among the hotly-contested listings.

One of the properties, a two-level commercial complex on Pall Mall in Bendigo, could deliver one of the event’s biggest results.

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The building, leased to Mexican restaurant Zambrero, a government-backed not for profit organisation and a beauty salon, generates combined rent of $407,561 per annum, was redeveloped in 2016, has 20m of street frontage and 13 secure car parks.

Burgess Rawson director Raoul Holderhead says strong growth in regional centres is seeing investors looking further outside Australia’s capital cities.

“Victoria’s ‘Golden Triangle’ region is one of the fastest growing regional hubs in the state and this is expected to increase further in coming years. Bendigo, for example, has a population that is set to increase to 145,000 by 2031,” Holderhead says.

“Commercial property in these regional areas is becoming increasing popular with investors who are attracted to robust yields, strong lease terms and quality tenants.”

The retail store on Greville St in Prahran.

A shop on one of Melbourne’s most renowned fashion strips is also due to be auctioned on Wednesday.

The two-level property at 201 Greville St is just moments away from the well-known Chapel St retail precinct, and is surrounded by similar boutique fashion retailers.

It is currently home to clothing brand Bricks & Mortar Supply, which pays $72,281 in annual rent and has leased the building until 2019, with options to 2025.

Also for sale is a prime childcare centre at Yanchep in Western Australia, which is leased to ASX-listed Think Childcare for at least the next 20 years.

The 2071sqm property also has two 10-year options and attracts rent of $280,000 with annual CPI increases plus an additional 1% built into the lease.

The childcare centre at Yanchep in Western Australia.

The centre is one of the few childcare facilities to have been offered for sale in Perth, with most sales in the boom asset class centring on the east coast, which selling agent Natalie Couper says makes it a great opportunity.