Five bidders for every Ray White Commercial investment auction

Five bidders for every Ray White Commercial investment auction
Jonathan ChancellorDecember 7, 2020

Ray White’s commercial property auctions in the March quarter of 2015 achieved an 83% clearance rate for investment auctions, according to the group’s inaugural Auction Insights report.

Ray White Commercial senior director Auctions and Investments, Richard Impiombato, said 15 of the 18 investment properties were sold for a total of $30.203 million.

There was an average of five registered bidders per property.

“Passive investment property with the ‘trifecta’ of a long lease, secure covenant and attractive location are in strong demand,” Richard Impiombato said.

Ray White Commercial took 55 properties to auction nationwide during the March quarter for an overall clearance rate of 58.18% and total sales of $52,641,000.

He said of the 32 sold properties, 15 were sold under the hammer, 10 post-auction and seven prior to auction.

Sales over the March quarter were $12 million for a residential development site at Surry Hills in Sydney and $7.3 million for an investment sale at Cranbourne in Melbourne.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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