“Investors are looking for strong, passive investments which demonstrate secure long-term income streams, and medical investments are great examples of this,’ explained Burgess Rawson’s Kieran Bourke, who spoke to the stability supplied by health tenants. “Providers [are] wedded to their location due to the long-term nature of their clients and the essential services they provide.’

The success persisted as the event shifted to Melbourne’s Crown Casino for the second day of auctions, as more than 150 registered bidders competed for 20 properties, delivering a 95% clearance rate with an average yield of 5.38%. According to Shaun Venables, yields softened marginally by 52 basis points when compared to the agency’s September auctions.

“The underlying strength of the commercial property market is continuing to make its presence felt,’ stated Mr. Venables. “Purchasers are out to buy, and vendors are meeting the market. The level of active bidding was the highest we’ve seen this year, particularly for fast-food investments.’

Melbourne’s order of sale featured a wealth of variety, with assets from all range of sectors represented. Fast food was responsible for the highest value sale of the day, with a Carl’s Jr restaurant in Beaconsfield being acquired by a private investor for $5.454 million on a yield of 4.4%. A Taco Bell outlet, also located in Beaconsfield, was purchased for $3.82 million on a yield of 4.58%, further demonstrating the investor engagement in fast food.

“Fast food held firm due to both a lack of stock and investor appetite, leading to intense bidding,’ Mr. Venables assessed.

Brisbane’s lineup was similarly multifaceted, with an industrial facility in the rural locality of Emerald selling for $2.1 million, a Liquorland in Burpengary East being purchased for $765,000, and an EG service station being divested for $1.421 million.