Cushman & Wakefield’s July National Investment Sales portfolio auction will take place in Sydney Tuesday 24 July, with five fuel and retail assets across Queensland and New South Wales available for purchase. This auction follows the success of the May portfolio auction, where four childcare centres were sold at strong yields.
Included in the campaign are Caltex leased properties at Moorebank (Sydney), Belmont North (Newcastle) and Tewantin (Noosa) offered as sale and lease-backs on 15 year leases with fixed annual increases of 3% with all outgoings paid by Caltex including land tax. In addition to these sites, the Oxley (Brisbane) Caltex site will be auctioned on a 10 year lease coupled with a Stanthorpe (Granite Belt Queensland) site on 15 year lease to Woolworths.
Michael Collins Cushman & Wakefield’s Head of National Investment Sales commented “all sites are strategically located on major arterial roads with significant frontages to passing traffic in strong convenience retail locations.”
As Caltex retain ownership of the tanks, pumps and lines and are responsible for remediation of the site, these are extremely landlord friendly terms ensuring they will be highly coveted and hotly contested come auction day.
“The campaign has attracted significant levels of interest from high net worth investors and funds management companies spread throughout the country. We expect high levels of demand for these investor-friendly assets” said Michael.
In addition, Cushman & Wakefield are marketing two childcare centres. One located in Cessnock currently leased to G8, and another large childcare centre in Rockhampton on a 20-year lease. These will be sold via an expression of interest campaign (EOI).
“Investor appetite for child care centres remains strong. Given our successful track record with these assets in selling child care centres we expect stellar results for these properties” said Michael.
Also offered via EOI is a Murwillumbah Commonwealth Bank and Burpengary Wizard Pharmacy on a 10 year lease. All EOI campaigns will be closing Thursday 26 July.
Renowned and preeminent auctioneer Damian Cooley, of Cooley Auctions will facilitate the auction at Cushman & Wakefield’s Sydney corporate office at 10:30am Tuesday 24 July, with live streaming and bidding facilities available in Brisbane and Melbourne.
To view the full portfolio of properties click here.
Sydney Live Auction – Tuesday 24 July 10:30am
Cushman & Wakefield Level 22, 1 O’Connell Street, Sydney
Melbourne Remote Bidding Facilities - Tuesday 24 July 10:30am AEDT
Cushman & Wakefield Level 9, 385 Bourke Street, Melbourne
Brisbane Remote Bidding Facilities - Tuesday 24 July 10:30am AEDT
Dexus Place, Level 31, Waterfront Place, 1 Eagle Street