Stonebridge Property Group has achieved a complete sell-out of ‘The 99 Bikes Portfolio’, with all eight assets sold under the hammer at the most recent Stonebridge National Portfolio Auction.
The retail assets spread across Queensland, Western Australia, and Victoria, attracted 336 total enquiries and 40 registered bidders at auction – demonstrating the continued investor confidence in affordable retail investments.
Each asset was underpinned by anchor leases to 99 Bikes, a wholly owned subsidiary of Pedal Group and backed by ASX-listed Flight Centre, and were offered individually with new lease terms between 3 to 10 years.
Individual sale prices reached up to $5.61 million, with yields from 4.46%. The portfolio achieved more than $1.61 million above reserve, including a standout result with 99 Bikes Ashgrove, in Brisbane, selling $1.11 million above its reserve price and fielding 68 bids.
Stonebridge Executive Rory Alexander said, “The sale of all eight assets and 100% clearance rate at auction highlights the depth of demand for quality retail investments. Investors are clearly prioritising strong tenant covenants and strategically located retail positions – particularly given most assets held shorter lease terms.”
“The campaign drew strong interest from local, interstate, and offshore investors. Notably, over 55% of the total portfolio transaction value was sold to Asian investors, reflecting the continued reach and influence of the Stonebridge Asia Practice team.” added Stonebridge Executive Ian Lam.
The 99 Bikes Portfolio sold for a total of $17,246,000, reflecting a blended yield of 5.26%.
For further information, please contact:
Rory Alexander | Executive | 0474 038 353 | ralexander@stonebridge.com.au
Harry Curtain | Executive | 0438 684 800 | hcurtain@stonebridge.com.au
Nic Hage | Director | 0448 782 594 | nhage@stonebridge.com.au
Ian Lam | Executive | 0416 621 859 | ilam@stonebridge.com.au
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