By Robert Carry
2009's largest auction portfolio is set to go under the hammer early next month, with some $152m worth of properties up for grabs.
The Colliers International New South Wales Summer Auction Portfolio 09, to be sold on 11 November, will comprise 33 properties from around NSW. Properties are expected to sell for between $250,000 to $12 million.
The Summer auction follows on from Colliers International's Spring offering where the clearance rate was 70% by value.
Jon Chomley, national director of investment sales at Colliers International, said the portfolio will be by far the largest of its kind offered to the market this year across Australia.
"Throughout 2009 Colliers International has built a reputation for auction success and, considering the quality and cross selection of the properties available, the Summer collection will again be testament to this," he said.
The portfolio features a variety of commercial, retail, industrial and residential conversion and residential land holdings, geographically spread between Wollongong in the south, Blue Mountains to the west and Nelsons Bay in the north.
"Australia is past the bottom of the property cycle and our top private and Institutional clients have indicated to us they heading into growth mode which, evidenced by the size of the Summer portfolio, we are seeing vendors are keen to capitalise on," Chomley said.
The auction will take place from 10am on Wednesday 11 November in Colliers International's Sydney CBD Office, Level 12, 225 George Street Sydney.
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