CoreLogic captured eight commercial auction results in the week ending the 10th of March. These preliminary auction results show a 100% clearance rate and a combined sales volume of $13 million.
The highest value result was a $2 million factory office and unit in Yennora, NSW. Of the properties sold, 4 were located in NSW, with two industrial and two retail properties cleared. There was 1 auction sale in Queensland, where a commercial office building in Coolangatta sold for $891,000. A further 3 were in Victoria, where an office building and two retail shops cleared.
A notable result was the auction of 238-240 Enmore Rd in Enmore. The shop is located in the tightly held inner west market of Sydney, but sold for $800,000. It is leased as a bridal shop until 2019.
The table below indicates National Auction Clearance Rate figures.
Commercial Research Analyst, CoreLogic