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Bunnings sale sets new auction benchmark

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The sale of a Bunnings warehouse in Perth and Dan Murphy's in Melbourne on sub-5 per cent yields were the standout results from a Burgess Rawson portfolio auction on Wednesday, which raked in $30 million in sales.

Eight out of 13 properties sold under the hammer or prior to auction as investors showed a strong preference for retail property backed by either a Wesfarmers or Woolworths lease.

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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com

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    Original URL: https://www.afr.com/property/commercial/bunnings-sale-sets-new-auction-benchmark-20160629-gpu91n