The season for auction fever about to set in

Philip Hopkins

February 20, 2012

THE commercial auction year in Melbourne will start in earnest when Burgess Rawson offers 10 properties, including shopping centres, service stations, and liquor outlets, next week.
The auction will be on Wednesday, February 29, in the River Room at Crown Casino at 11am. Up for sale are a Coles Express at Rye, an office in Cheltenham, a car wash in Springvale, a BP service station in Ballarat and an IGA in Seymour. The interstate properties include a supermarket and warehouse in Queensland, a Woolworths in Launceston and two Dan Murphy's liquor stores in New South Wales.
In Echuca, Fitzroys and Charles L. King & Co will offer four commercial/residential development sites for auction this Saturday from 1.30pm. The property at 557-561 High Street, one of the last development sites in the Port precinct, is expected to fetch more than $2 million. The other sales prices should be between $1 million-$1.8 million.
In Southbank, Savills Australia is marketing a warehouse with development potential close to Southgate and Crown Casino. The property will be auctioned on Thursday, March 8, at 1pm on site, and is expected to fetch more than $950,000. Located at 11-13 Hancock Street, the level warehouse on a 168-square-metre site is zoned Mixed Use (allowing residential and commercial development).
Receivers and managers have been appointed to sell The Avenue, a prominent shopping centre in Sunshine West. Colliers International, under instructions from PPB Advisory, has listed the centre at 136 The Avenue for sale by tender.
The anchor tenant at the shopping centre was a Coles supermarket and was complemented by a strong tenancy mix incorporating a Cellarbrations liquor outlet and other specialty stores.
Knight Frank is to sell an industrial property at Tullamarine. Located at 9 Fellowes Court, the property comprises a clear-span warehouse with a two-level office and loading docks. The expressions of interest campaign closes on March 15 at 5pm. The expected selling price is more than $4 million.
In Camberwell, Fitzroys will auction 630 Burke Road on Wednesday, February 29, at 1pm on site. The property is subject to a single lease to JL Footwear with a passing rental of about $218,400 a year plus outgoings and GST, for five years from November 1, 2010.
GormanKelly is selling 354 & 356 Centre Road, Bentleigh, for separate sale (two titles) by auction on March 6 at noon. The first - a two-storey retail premises with a recently refurbished dwelling/office above - will be sold with vacant possession. The second property is similar, with the fully self-contained dwelling comprising three bedrooms and a new bathroom.
A classic commercial building in Bay Street, Brighton, with two street frontages and potential for development, will be auctioned by JP Dixon Real Estate on March 14 at 2pm. Plans are available for a four-storey building.
A city property leased to Ted's Camera Store is up for grabs. Fitzroys is offering the prime retail freehold at 235-237 Elizabeth Street. The deadline for private sale is March 8 at 3pm. The lease to Ted's is for eight years with two options of five.
Fitzroys is also offering a retail freehold on the corner of Burwood and Glenferrie roads for sale by expressions of interest. The campaign closes on March 8 at 3pm. The property at 350 Burwood Road, Hawthorn, is being sold subject to the existing lease to Altitude, part of the Grollo Group.
In Kew, Gormon Commercial is selling the property at 1357 Burke Road - a single-fronted two-storey commercial office. The auction is on Wednesday, February 29, at noon on site.

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