Burgess Rawson Simulcast Success
A record breaking 7 Eleven portfolio auction across two cities
On Wednesday 30 October 2019, Burgess Rawson delivered one of its most significant auction events of the year which included a portfolio of fifteen (15) 7-Eleven Service Stations
Nine of the properties were auctioned by Jesse Davidson in Sydney, while David Scholes conducted the remaining auctions in Melbourne. The event was simultaneously broadcast to buyers at auctionWORKS HQ in Sydney, Crown Casino in Melbourne and multiple Burgess Rawson offices across Australia.
A Simulcast Outside the Norm
The vision was ambitious. Live video feeds, property presentations, bidding activity, yields and order of sale screens all needed to sync seamlessly between multiple venues in real time.
Anthony Nounnis, Director of RE Software at the time, said the concept pushed the boundaries of traditional auction delivery.
“The way Burgess Rawson envisaged the simulcast was outside the norm and had never been done before. It was a challenge to make it work seamlessly, ensuring live video footage, property presentations, bids, yields and order of sale screens were synchronised across every site.
We had been working with Burgess Rawson for nearly 12 months leading into the event. Their management and marketing team think differently. They set a new benchmark for what a portfolio auction can look like.”
$78 Million in 128 Minutes
The results reflected the scale of the event.
The 7 Eleven portfolio generated just shy of 78 million dollars, with all properties sold under a sale and leaseback arrangement to the retailer on new 12 year lease agreements.
More than 640 bids were recorded across the fifteen properties, with an average auction time of 8.5 minutes per asset. Over the full 128 minute event, this equated to an average of one bid every 12 seconds.
20 Mort Street, Braddon ACT attracted 60 bids over 18 minutes before the hammer fell at 7.1 million dollars, reflecting a 4.11 percent yield.
The highest sale was 1603 Sydney Road, Campbellfield VIC, which sold for 8.52 million dollars after 69 bids in just 10 minutes, representing a 4.54 percent yield.
1593 Western Highway, Rockbank VIC drew 70 bids in nine minutes, selling under the hammer for 6.8 million dollars at a 4.72 percent return.
Technology Supporting Competitive Tension
Commercial portfolio auctions demand transparency, speed and confidence. Simulcast technology ensured that buyers in multiple cities were seeing the same information at the same time, strengthening competitive tension across the country.
For Burgess Rawson, the result was more than a successful auction day. It demonstrated how structured PropTech, when aligned with strategic marketing and strong buyer databases, can elevate large scale portfolio campaigns to a national stage.
The event remains a defining moment in commercial auction innovation and a clear example of how technology can amplify competition, engagement and investor confidence.
Posted 2nd November, 2019