99 Bikes Portfolio Fetches Multimillion-Dollar Sum in Auction
A portfolio of eight 99 Bikes retail locations across Australia has been sold at auction, generating a ample multimillion-dollar windfall for the vendor. The sales, completed by Stonebridge Property Group, achieved a 100 percent clearance rate, signaling robust demand for quality retail investments.
The outcome underscores a current trend of investors prioritizing well-positioned retail assets with established tenant agreements, particularly those offering shorter lease terms. The transactions, drawing interest from both domestic and international buyers, reveal the continuing strength of the retail investment market and the appeal of essential service businesses.
Stonebridge executive Rory Alexander noted the strong result, stating, “The sale of all eight assets and 100 per cent clearance rate at auction highlights the depth of demand for quality retail investments.”
The campaign attracted a diverse pool of bidders, including local, interstate, and overseas investors.Notably, Asian buyers accounted for over 55 percent of the total portfolio’s transaction value, demonstrating the significant reach of Stonebridge’s Asia Practice team.
Ian Lam, also an executive at Stonebridge, commented on the broad interest, saying, “the campaign drew strong interest from local, interstate, and offshore investors.”
The firm emphasized the result as evidence of sustained demand for essential retail investments backed by reliable tenant covenants. Among the locations sold was the 99 Bikes store on the Gold Coast.
