Commercial Real Estate Auctions

One the ways Commercial real estate is sold, is by public or private auction. The difference being that in a public one, anyone can turn up, register and bid, whereas a private auction is for invited buyers only, usually reserved of very high price properties.

Sydney also has Real estate agencies that specialise in auctioning commercial properties. Two of the main auction houses are: Auction Works and Commercial Real Estate Commercial Real Estate has an Auction Centre located in Sydneys CBD and provides a 'One stop shop' for industrial, commercial, retail and investment property sales.

Auction Works has the facility on its website to view live auctions, which happen every Wednesday at 10-30am. AuctionWorks was formed back in 1998 by David Scholes with the aim of providing real estate auction services to both residential and commercial agents across New South Wales.

Commercial Real Estates Auction Centre offers agents and auctioneers a high quality, fully equipped facility enabling them to conduct commercial real estate transactions with a dedicated auction room.

Location: Commercial Real Estate Auctions are located at:
The Mezzanine, 50 Margaret Street, Sydney, 2000, NSW

Location: Auction Works is located at:
Mezzanine Level, 50 Margaret Street, Sydney NSW 2000

Sydney Auctions

The strength of the residential property market is gauged what is known as "Clearance rates" at Auctions.

In Sydney last week, there were some 1006 properties that went to auction, with a clearance rate of 76%. 275 of these properties were sold prior to going to auction, 464 were sold at auction, 176 were passed in, 88 were withdrawn from sale and 3 properties sold after the auction closed. A good source of information about the results, can be found HERE.

Commercial Property Auctions

There have been 83 auctions held at Commercial Real Estates Auction Centre in Sydney since mid October.. with a total of 26 properties recorded as sold.

The highest sale price was for 40-50 Francis Street, East Sydney and was sold for $7,847,000. Auctions are held weekly.