PTY Property has now teamed up with Colliers International to
add Live Online Bidding to their NSW Auction Portfolio events.
Yesterday we attended their NSW Autumn Auction Portfolio. Colliers
International has 20 properties from around the state comprising of: development
land, vacant buildings and childcare centres with long term leases. The auctions
took place at the Colliers International Sydney CBD office and had a combined value
of more than 65 million.
One auction in particular that was hotly sought after was 70
Broughton Street, Campbelltown which was one of the childcare centres that were
being offered. Tim Fox, the listing agent, had obviously marketed the property well
as he had at least 5 bidders in the room and 1 online bidder from Canberra. Frank,
the online bidder, placed 4 bids but was eventually outbid by one of the onsite
bidders.
Frank mentioned that if Live Online Bidding has been available
at previous auctions he would have bid on more properties in the past for the superfund.
The bidding for 70 Broughton Street started at $800,000 and only
took 4 minutes and 22 bids (5.5 bids per minute) to reach the final sales price
of $1,025,000, with 18% of the bids being placed online.
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