Cohens clean up in $22m sale

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The Cohen family, who co-founded vacuum cleaner chain Godfreys, cleaned up at a portfolio auction on Friday where four prime shops fetched $22.18 million amid hectic bidding at Melbourne's Crown casino.
The strong showing contrasted sharply with another agency's portfolio auction held in the same venue two days earlier where investors turned their backs on the previously red-hot childcare sector, rejecting six out of the seven centres offered.

"These are prime properties," Allard Shelton auctioneer Joseph Walton told a room full of buyers as he outlined the merits of the Cohen family's portfolio in Ascot Vale, Campbellfield, North Geelong and Caulfield South.

The first Melbourne shop to go under the hammer, a prominent semi-circular-shaped store on the corner of Mt Alexander and Ormond roads in Ascot Vale, attracted a frenzy of 108 bids before it sold for $7.27 million on a tight yield of 3 per cent. It was followed by another corner site at 484 Melbourne Road, North Geelong, which saw four buyers lob 97 bids before it fell to an investor for $4.21 million on a 4 per cent yield. A large, 1400 square metre store on the Hume Highway in Campbellfield sold for $2.8 million on a 7.3 per cent yield while another hotly-contested property on Hawthorn Road in Caulfield South fetched $7.9 million, the tightest yield of the day at 2.6 per cent.
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All the shops were on land-rich sites with future development potential. They were leased to Godfreys on five-year terms, returning total income of more than $1.25 million a year. The Cohen family and their 100-year-old co-founder, John Johnston, sold Godfreys in 2006 to private equity firms Pacific Equity Partners and Unitas Capital for more than $300 million.

The company, which operates 200 stores across Australia and New Zealand, struggled with large debts after being listed on the ASX. Mr Johnston's Arcade Finance brought it back in June this year for around $13 million.

Mr Walton said the properties had fetched yields that were more common at the peak of the market 12 months ago. "This speaks volumes about the underlying strength for prime opportunities," he said.

In total, seven properties were put on the market. Two strata shops in Adelaide, one tenanted by Godfreys, sold on Wednesday for $660,000.
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  • Profile picture of the author Rob Hunsons
    First of all I suggest you to make it on Tilda.
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  • Profile picture of the author Steve B
    Originally Posted by demonsss View Post

    . . . can i make money from auto blogging?
    I think you will find it very difficult to make good money (as in a decent full time income) from the auto blogging business model. Google and other search engines want to serve fresh, unique, and valuable content to their audience. Auto blogging typically doesn't include any of that type of content. Humans don't get value from auto blogs in nearly all cases.

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    In my experience, auto blogging was created as a way to "game" the search engines and blast links all over the Internet. If that strategy ever did work, it was many years ago.

    I would suggest there are unlimited better ways to earn income online.


    Steve Browne, online business strategies, tips, guidance, and resources

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  • Profile picture of the author ramsonstephn
    thanks stevebrownedirect for your this information. please give me some tips how i rank my website on first page of google.-
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  • Profile picture of the author filiks
    Originally Posted by demonsss View Post

    I have heard a lot about auto blogging, i know it will post auto content, my question is that can i make money from auto blogging? and how can i set up my auto blogging site? What are the plugins to use. I want to make WordPress auto blog.
    Auto blogging is a dead and forgone business model (IMO) if it did work sometimes ago, its as good as dead right now because Google is wiser to ALMOST detect what youre intensions are concerning the pages you serve to readers.

    if you really want to make money blogging i think you need to follow Steve's recommendation
    Originally Posted by Steve B View Post

    become an authority niche blogger. Choose a niche where you have a talent, experience, passion, or even something that you want to become good at so that you can focus on blogging around a specialized topic.
    welcome to warrior forum!
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  • Profile picture of the author kathrinjohn
    I am not sure about it but I also hear a lot about auto blogging which allow website owner to share valuable content more frequently. I have came across with ifttt which is something similar.
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  • Profile picture of the author dioni
    You can still probably make money from it but not that much.
    You need topics that'll help you engage more audiences and not just the click-bait type of topics.

    But if you are truly decided on making an auto blogging website here are some free plug-ins:
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    7. RSS Just Better
    8. WP Pipes

    There are premium plug-ins as well like Autoblog and WP Robot. Just look them up!
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