Raine & Horne Commercial’s latest instalment of its successful National Auction Event on Thursday, 20 March 2025, has delivered strong results for vendors, achieving an 80% clearance rate and total sales of $12.57 million across four high-quality commercial properties.

These outstanding results mean that since its launch in November 2023, Raine & Horne Commercial has sold more than $140 million worth of industrial, retail, and office properties through the National Auction Event initiative.

The latest auction was held both in-room at AuctionWorks in Sydney and online, attracting 17 active bidders and generating an average of around 100 enquiries per listing. Renowned auctioneer Jesse Davidson presided over the event, driving competitive bidding from investors, developers, and private clients.

The standout sale of the day was a significantly older style industrial building at 79 Railway Parade, Marrickville, which fetched $5.15 million, surpassing the vendor’s expectations by $250,000[i].

The property, listed by Ben Ayers, Sales & Leasing Consultant, Raine & Horne Commercial Inner West/South Sydney, features 774 sqm of floor space and sits just 50 metres from Sydenham Station. The site offers excellent potential for multiple business uses, with easy access from Railway Parade and a rear lane.

Mr Chris Nicholl, CEO of Raine & Horne, highlighted that the National Auction Event showcased an array of multimillion-dollar industrial properties.

“Significantly, with 17 active bidders, the latest National Auction Event appealed to a broad range of commercial real estate buyers from business owners, private clients, investors and developers,” Mr Nicholl said.

For example, developers and investors were among the bidders for a 370 sqm industrial building at 37 Sydenham Road, Marrickville[ii], listed by Luke Smith, Director of Raine & Horne Commercial Inner West/South Sydney, and his colleague Dane Heinrich. Positioned just 60 metres from Sydenham Station and close to breweries, distilleries, cafés, and theatres, the property sold for $2.22 million, $220,000 above the vendor’s expectations, and proved popular with developers seeking value and potential.

“Auctions continue to deliver premium results, offering the combination of competition, transparency, and a set timeline for buyers and sellers,” Mr Nicholl said.

From a network perspective, Mr Nicholl said the National Auction Event highlighted Raine & Horne Commercial’s leading capability to deliver national exposure while leveraging local expertise.

“By running events like this, we give our agents a platform to market their clients’ properties nationally while tapping into the invaluable local market knowledge that sets Raine & Horne Commercial apart,” Mr Nicholl added.

"We’ve consistently seen a 50% increase in traffic to the Raine & Horne Commercial website, www.rhc.com.au, in the weeks leading up to each National Auction Event."

National Auction Event drives standout results for vendors

Mr Nicholl continued, “Raine & Horne Commercial’s unique strength lies in our focus on serving SMEs, investors, self-managed super funds, and developers.

“Our ability to unify as an office network allows us to maximise the benefits of the auction method for our vendors.”

Mr Smith, from Raine & Horne Commercial Inner West/ Sydney South, is another supporter of the combined auction.

“The National Auction Event offers our vendors and agents increased visibility and has introduced heightened competition,” he said.

“Auctions work superbly in our market because most properties attract multiple buyers,” explained Mr Smith.

“There is a time and a place for all methods of sale whether its auction, private treaty or Expression of Interest (EOI).

“However, in this market, auctions have a role to play as they deliver higher than expected prices for vendors and within a fixed timeline that gives our vendors more security.”

The March 2025 National Auction Event was conducted in person at AuctionWorks, Mezzanine Level, 50 Margaret Street, Sydney, and streamed online. For more information about the properties sold under the hammer, visit https://www.rhcommercial.com.au/national-auction-event.

[i] https://www.rhcommercial.com.au/innerwestsouthsydney/properties/79-railway-parade-marrickville-2204-new-south-wales

[ii] https://www.rhcommercial.com.au/innerwestsouthsydney/properties/37-sydenham-road-marrickville-2204-new-south-wales