Raine & Horne Commercial is pleased to announce its first-ever “National Auction Event,” scheduled for Thursday, 30 November 2023, that will include the sale of a trophy freehold investment property leased by fast-food leader Hungry Jack’s in the western NSW regional city of Dubbo among the highlights.
Jesse Davidson from AuctionWorks will be the auctioneer for the Raine & Horne Commercial National Auction Event, which will occur both in rooms in a Sydney central CBD venue and online.
The Raine & Horne National Auction Event is a significant event for the Australian commercial real estate market and will showcase an impressive variety of 18 quality commercial properties, in aggregate valued at over $60 million. The properties going under the hammer encompass a broad spectrum of investment opportunities, vacant possession assets, and outstanding development prospects ranging in price from $500,000 to $10 million.
Chris Nicholl, the Head of Commercial Network at Raine & Horne Commercial, said the auction event will feature a lineup of multimillion-dollar industrial property offerings, plus a mixture of office, medical suites and retail assets such as 69-73 Cobra Street, Dubbo home to Hungry Jack’s in Dubbo.
“This deep pool of properties from regional markets such as Dubbo to capital city markets is a testament to Raine & Horne Commercial’s extensive experience working with local and private clients since 1883 and our market presence nationwide,” Mr Nicholl said.
A lucrative investment opportunity in a prime Dubbo location
The significant 2,834 square metre land holding with a 53-metre street frontage at 69-73 Cobra Street, Dubbo, has been listed by commercial sales and leasing agents Joe Burgun, Thomas Haylock and Grahame Allan from Raine & Horne Dubbo.
Mr Burgun highlights this rare property’s exceptional investment potential. “It boasts a secure head office lease with Hungry Jack’s that is in place until 2035, and compounding fixed 3% annual rent increases ensuring stable long-term income with an annual net income of $256,790* plus GST.
“This opportunity is a prized, hassle-free investment that we anticipate will attract plenty of attention during the National Auction Event.”
Mr Burgun added that the superb 275 square metres restaurant was constructed in 2020 with dual lane drive through and capacity for fourteen cars waiting to be served.
Given its recent construction date, this property also offers canny investors significant tax saving depreciation benefits, Mr Haylock added.
“This property also commands a high profile as the site is on the corner of the Mitchell Highway and Cobra Street with an average daily passing traffic count of over 19,000 vehicles,” he said.
Mr Burgun has also listed for auction an industrial Investment with an ASX-listed tenant at 6 King Street Dubbo.
The property features a brand-new lease with a net income of $88,000 plus GST in place to Astley’s Building Supplies Pty Ltd, a subsidiary of ASX-listed MAAS Group Holdings (ASX: MGH). This opportunity presents a rare opportunity for an astute investor to secure an outstanding industrial investment in Dubbo’s thriving construction supplies hub.”
As for their participation in the Raine & Horne Commercial National Auction Event, Mr Burgun expressed the Dubbo office’s enthusiasm, stating, “We are thrilled to be part of this event, as it enables us to blend our local knowledge of the Dubbo region with the opportunity to offer our vendors nationwide visibility for their high-value investment properties.”
He further emphasised, “The national auction event will provide us with the ideal platform to garner maximum attention for these properties.
“Additionally, we will benefit from the collective support of the other 30 Raine & Horne Commercial offices throughout Australia, all actively promoting this event and extending exposure for our properties to their extensive databases.”
The National Auction Event will occur in person at AuctionWorks at the Mezzanine Level, 50 Margaret Street, Sydney, and online. To access more details about the properties available at the National Auction Event or to register as a bidder, please visit https://www.rhcommercial.com.au/national-auction-event