Lloyds Auctions has uncovered more than 1,000 pieces of commercial catering equipment worth over $1 million in a forgotten underground basement in the heart of Sydney. The underground find spans two full basement levels of storage, packed with commercial catering assets that had been left untouched and largely unseen until now. With the current owner of the basement requiring the space cleared immediately, every item will be sold, regardless of price with everything starting from $1.

“This is a sea of stainless steel as far as the eye can see, across 2x basement levels if you can just picture that for a moment” Lee Hames, Chief Operations Officer at Lloyds Auctions commented . “I have never seen anything of this scale in this industry. The volume of equipment uncovered in this basement is extraordinary.”

The auction presents a rare opportunity for hospitality operators, restaurateurs, caterers and resellers to acquire quality equipment at exceptional value. The clearance includes a massive range of commercial refrigeration assets, ovens, benchtops, display cabinets and more. 

“The opportunity for business owners in this industry to get ahead is very real as every single item will be going under the hammer with no reserve and starting at $1 meaning everything will be sold.” Hames commented.

Given the sheer scale of assets, combined with tight business budgets around the country and the unreserved auction conditions, the sale is expected to attract strong interest from buyers across Southeast Australia.

The clearance will be conducted as two online auctions only, closing on Tuesday 19 May and Wednesday 20 May from 10:00am, with bidding now open through Lloyds Auctions.