The cash will be used for other projects and comes at a time when self-managed super funds are looking for bricks and mortar investments.

Burgess Rawson have five NSW government tenanted investments in their next portfolio auction which occurs just in time for the end of financial year on  June 28.

The assets are all leased to Service NSW, which is the department in charge of a range of "interface" consumer services, such as licence renewals.

Following on from two previous portfolio investment offerings on behalf of Property New South Wales, which saw the sale of 17 sale and lease-back assets to private investors,  they have three investments located in Campbelltown, Bega and Nowra respectively, as well as a vacant development opportunity in Cooma.

In addition, they are offering two new Service NSW properties from the private development company. Polaris Property, which are specifically targeted at smaller investors.

Michael Gilbert, director of sales at Burgess Rawson, said that Service NSW proved particularly popular with investors who are becoming used to seeing the bright blue and red livery and draw comfort from the five years and two options of five-year lease terms.

"Investors know that Government cheques don't bounce so these assets are keenly sought by investors looking for easy to manage assets that guarantee them a stable, predictable return," Mr Gilbert said. "All of the assets have fixed annual rent increases with the tenants paying outgoings. Cooma and Mudgee are both traditionally strong towns that investors know well."

Mr Gilbert said the three investments being sold by Property New South Wales were also in strong locations with Campbelltown in particular offering substantial medium-term redevelopment potential.

"Both Nowra and Bega are important locations with Nowra having a heavy vehicle inspection bay and Bega housing the main Roads and Maritime roads planning and maintenance teams for the south coast as well as important technical laboratory with substantial government investment in equipment," Mr Gilbert said.

"In addition both locations have SNSW​ offices with the Bega SNSW being a consolidation of the previous Road Transport Authority (RTA) offices in Merimbula and Eden."

He said on both previous occasions the NSW Government's sales achieved a "100 per cent success rate with a packed auction room so investors are advised to get to the venue early on auction day to secure a seat".

Also available in the current Burgess Rawson investment portfolio are two small Coles supermarkets, a red rooster with a renewed 15-year lease and a new South Coast Coles/Shell service station.