Recently promoted to Associate Director in Stonebridge’s National Portfolio team, Thomas Proberts has a depth of experience across freestanding commercial investments.
His knowledge lies with assets leased to blue-chip tenants across retail, fast food, fuel and convenience, childcare and medical – in this Q&A he shares why confidence in auctions are at an all-time high and why 2026 is shaping up to be a sellers’ market.
What are the biggest trends you’ve seen in your market this year?
There has been increased buyer participation across the board. We’ve seen a notable shift in confidence towards auctions, as the market positively responds to our Portfolio Campaigns. Our most recent Auction, where we sold 18/18 under the hammer, attracted 70+ registered bidders across our Sydney, Melbourne and Brisbane rooms and was testament to this trend.
How has buyer behaviour changed?
Buyers are more prepared to attend auctions and lodge offers, having spent time through 2025 monitoring the market. First time commercial investors also appear to be more educated than in previous years, with many being encouraged to consider commercial investments as an alternative to residential. Commercial assets provide confidence to first time investor due to the higher yields, secure tenants and compounding annual rent increases.
With the influx of buyer’s agents moving into the sector, and Stonebridge’s proactive approach to knowledge sharing, our investors are more empowered than ever and their knowledge breeds confidence in their ability to transact.
What do you see as the biggest opportunity in the market over the next 12 months?
Interest rate stability combined with an inflated share market has historically benefitted bricks and mortar real estate. It will continue to be a seller’s market thought the first half of 2026, building on the momentum created this year. Buyers will benefit from this part of the cycle as more trophy style assets are recycled. We already have a strong lineup of investments for our first portfolio of 2026 which are set to be hotly contested. There’s a significant opportunity for interstate investors looking towards Brisbane and the Queensland, prior to further asset appreciation.
Net interstate migration continues to outpace the nation and is further compounded by strong overseas migration. As trades are swept up by Olympic and critical housing infrastructure, increased construction costs and a scarcity of new commercial stock will deliver further rental growth and asset appreciation across the commercial real estate sectors.
What has been your stand out sale of 2025:
It is cliché, but it is hard to choose just one from 2025. It has been a highly transactional year in the market and in our team. We have completed 112 sales in this calendar year to date, which is a 33% increase from 2024 with several transactions soon to become unconditional.
If I had to choose, the Ripley Central Retail Precinct stands out as an excellent example of executing on our strategy to maximise the result for our client, Griffith Group. We conducted five sales over three months comprising the 7-Eleven & Subway Service Station, Starbucks Drive-Thru, Swim School, Car Wash and Retail Centre. Utilising a mixture of Portfolio Auctions and Expressions of Interest sale methods. Each property was sold unconditionally, totalling $26,145,000 with a blended yield of 5.49%.
Auction Vs Expressions of Interest, what determines the method of sale?
Sometimes the method of sale is immediately obvious, such as a single tenanted tyre and auto asset, sometimes it is not. Increasing complexity and price points often lend themselves to Expressions of Interest campaigns. This does not however preclude the property from selling unconditionally.
Careful consideration is given to the strategy for each property to ensure we secure the best results for our Vendors. We have achieved several record results this year, both via EOI and Portfolio Auction. I think this perfectly captures our team’s ability to effectively negotiate strong outcomes while also running a market leading Portfolio Auction platform.
For more information and to discuss your 2026 property mandates, contact Thomas.
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