Knight Frank has created a National Portfolio Investments division, headed by Stephen Lovison, with national portfolio auctions said to be generating strong interest in assets.
Knight Frank Head of National Portfolio Investments Stephen Lovison (pictured) said the new division created an opportunity for vendors and investors to take advantage of their established reach, with investment experts in 21 offices around the country and direct connections to Singapore, Kuala Lumpur, the UK and New Zealand.
Knight Frank CEO James Patterson said the division was expected to expand over the coming months and into 2023.
“This is a significant step forward in the growth of our national business, being able to expand our client service offering to the complete spectrum of property investors,” Patterson said.
The new division is taking a new portfolio, worth around a collective $23 million, to auction next month.
The portfolio comprised the Boathouse Retail in Airlie Beach, Queensland; a new warehouse in Cambridge, Hobart; a multi-tenanted investment in Roma, Brisbane; a prime industrial property in Chermside, Brisbane; and a retail property in Armidale, New South Wales.
33 Port Drive, Airlie Beach, Queensland
“We are truly connected to our investment markets, from capital cities to major regional centres and further abroad in Asia-Pacific, creating a service for vendors to sell their assets to an extremely wide pool of buyers,” Lovison said.
“The timing was right for Knight Frank to consolidate our offerings into a single platform, to drive enquiry and produce results no matter where the agent or the listing is located.”
Lovison said the Airlie Beach property represented a fantastic opportunity to capitalise on the growing tourist sector with some outstanding tenants in a prestige development.
“In NSW, we have a property leased to a discount store, which is a solid covenant in the current economic environment, and Ten Tops is one of the best discount operators around,” Lovison said.
“Investors are always seeking diversification within their investment portfolio, and these properties provide a cross-section, including an asset in Roma, in western Queensland.
“This asset is underpinned by a Federal Government tenant and includes a combination of essential automotive businesses which has strong support from the local economy, making this a diversified and high yielding investment with secure tenants.”
115 Beardy Street, Armidale, NSW
The portfolio auction comes after the division sold three logistics assets owned by GPT Group last month.
All three properties in the industrial portfolio sold under auction conditions for an average yield of 5.24% on the net income.
Mr Lovison said that in the current market, national portfolio auctions worked to generate strong interest in assets.
“For our auction last month our campaign generated interest from nearly 100 parties, with industrial properties also in high demand at the moment, and we expect that to continue for the industrial properties in Hobart and Brisbane in this portfolio,” he said.
