More than $29m worth of Queensland properties have been sold under the hammer, with investors seeking a safe haven for their money during choppy economic times.

Burgess Rawson’s Portfolio Auction 159 event in Brisbane last Thursday had 10 properties on the block, with six selling.

The top sale by yield was a KFC at 20 Ashburn Rd, Bundamba, which sold for $4.68m on a tight yield of 4.09 per cent.

Tom Lawrence, who marketed the property with Campbell Bowers, said the campaign for the KFC generated more than 150 inquiries and 12 registered bidders on the day.

“It was a very competitive auction and the eventual purchaser was a private from Sydney,’ he said.

Three childcares were sold, with a Guardian centre at 36 Lamorna St, South Rochedale, selling for $6.17m (4.88 per cent yield) and an Affinity Education centre at 60 Investigator Drive, Robina, selling for $8.8m (5.43 per cent).

Oaktree Academy at 11 Victoria Lane, Woodford, sold prior to auction for $6.1m reflecting a yield of 5.2 per cent.

Other sales included Ekera Dental on Edgerton St, Emerald, which sold for $1.36m (7.48 per cent) and a Zambero’s at 3/4 Carrington St, West End, for $1.95m (5.87 per cent).

Mr Bowers said the auction attracted a mix of local and interstate high net worth investors who were looking for a “safe investment’.

“There is still a lot of capital flying around despite the interest rate rises and we are still fielding a record number of inquiries,’ he said.

“The flight to a safe haven as a trend is more pronounced now than it was previously.

“Putting your money into a KFC or childcare centre is a pretty comfortable investment decision for buyers. Those tenants trade through absolutely anything and the income goes up and you are getting good depreciation.

“It makes a lot of sense for an investor instead of putting their money into residential or the stockmarket.’

The combined tally for Brisbane, Melbourne and Sydney’s Burgess Rawson portfolio auctions over three days totalled $91.457m.