Burgess Rawson sell $53 million in 48 hours

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The national retail investment market is gathering pace with Burgess Rawson selling 15 properties through it’s Melbourne and Sydney offices alone in the past 48 hours for a combined $53 million.
Burgess Rawson Sydney Director Mr Darren Beehag said the properties were predominantly sold at bulk auctions in Melbourne and Sydney over the past 2 days – with some selling before and after the auction and others by EOI.
“We sold a wide range of national branded properties at strong yields illustrating just how much demand there is from the private investor market.”

Burgess Rawson Melbourne Director Shaun Venables said national, publically listed tenants on long leases were seen as a safe haven for purchasers.
He said some of the properties attracted strong bidding even though they had short leases, which is testament to the dominant location of some of these assets combined with strength of tenant.
The next Burgess Rawson Portfolio Auctions are scheduled for Sydney on September 13 and Melbourne on September 14, 2011.