Three buildings occupying key sites in the Bendigo central business district will be sold separately at auctions in February.
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Properties 25 Queen Street, 27 Queen Street and 314 Lyttleton Terrace will go under the hammer on February 10, in one of the first tests of the city's commercial property sector for 2023.
Once forming the Mason Estate, the buildings are home to Masons of Bendigo, Ray White Real Estate and Bendigo Wholefoods.
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DCK Real Estate director and auctioneer Matt Bowles said all three were substantial properties with secure tenants.
"The two properties in Queen Street - Masons of Bendigo and Ray White - are both leased," he said.
"Masons is a strong restaurant and a well-regarded, well-run run business, (while) Ray White is leasing that building as an office.
"The site at 314 Lyttleton Terrace is home to Bendigo Wholefoods."
The properties at 25 and 27 Queen Street have a listed income of $56,000 and $49,000 respectively, with both businesses in the middle of a five-year lease.
At 314 Lyttleton Terrace, the land size is 845 square-metres with a listing income of $33,000 and the occupying business is currently in a five-year lease.
Mr Bowles said the decision to split the three properties up would be attractive for buyers looking for smaller-scale investments.
"The people we manage (the listings) for are a trustee company who have decided to release the asset and use the funds in other ways," he said.
"There hasn't been a lot of commercial property available in the smaller-scale.
"Some other sites have been sold in a single title, so the good thing is this gives investors a chance to secure commercial properties in the CBD in an address-by-address basis as opposed to six or eight buildings on one title."
Commercial property sales in Bendigo enjoyed a strong start to 2022 before slowing down in the final six months of the year.
Mr Bowles said buyers who did not need to borrow funds or could operate commercial properties on a returns basis were showing interest.
"What we'll be finding this year is investors in these properties are looking to purchase with part of their super funds and not borrowing any money," he said.
"Others will use a returns basis. They are still keenly sought-after.
"(Bendigo Wholefoods) has a land size is 845 square-metres. It is a large site and is probably an opportunity for someone to purchase that who - with the rent not as strong - may look at redevelopment once the current tenant's lease expires."
For more detail on the properties visit www.dck.com.au
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