A Batemans Bay retail site, leased by Commonwealth Bank until 2028, sold for $2,340,000 at the portfolio auction at the Sydney Opera House and was the second highest sale out of 12 properties up for grabs.

Burgess Rawson NSW sales agent Simon Staddon facilitated the sale and said the Batemans Bay site received 120 enquiries in the lead up to the auction.

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"Any time we have a property on the South Coast, we see a spike in enquiries," Mr Staddon said.

"Investors are looking at the area because it has a strategic geographical advantage, a lot more so than the north coast, and is a popular holiday destination for people from Melbourne, Sydney and Canberra.

"There's confidence in the area because the north coast of Sydney is more expensive and built up, whereas the South Coast is more undiscovered, and as the regional cities grow residentially, the greater the CBD needs to be commercially."

The Batemans Bay sale followed two recent sales in the South Coast region, both of which highlighted strong investor interest in the area.

The Chemist Warehouse in Nowra sold for $2,755,000 on a 5.5 per cent net yield and a second investment in Merimbula was snapped up for $1 million.

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Mr Staddon said the South Coast area could expect continued interest from investors as it grew in population.

"Undeniably due to the pandemic, a lot of people have discovered the South Coast and regional migration will only increase," Mr Staddon said.

"Investors see hubs like Batemans Bay, Nowra, Bega and Ulladulla as doing well in the future in terms of potential growth in rent and capital values."

The highest NSW sale at the Opera House auction was for an LJ Hooker Atlas site in the highly sought-after Neutral Bay region, which sold for an impressive $4,280,000 on a 5.69 per cent yield.

"In this market, there's no such thing as a bargain," Mr Staddon said.