Ray White North Ryde were the managing agents for six industrial properties in Botany, spanning approximately 4,500sqm in total. Being a residential office, they sought the local knowledge and experience of our team to work together on a group venture in order to achieve the best outcome for the owner, being Sir Moses Montefiore Jewish Home.
The six, IN2 zoned properties, offered two main sales strategies that were discussed with the owners. The option whether to sell the whole site in one straight line or to Auction each property individually was a hot topic of contention but the owners trusted the guidance of the team to proceed with the individual Auction campaign.
The choice to sell each property via Auction has so far turned into a great success with four from four properties being sold over the reserve and under the hammer at the on-site Auctions, with Damien Cooley. One property is currently midway through an Auction campaign with the final property to be auctioned in April, 2016.
There has been consistently high interest, predominantly from owner occupiers, at the open inspections and various online resources for each property. We believe this is due to the extensive digital and print media campaign that was tailored specifically for each property.
Status to Date:
116 Wentworth Ave = $1,250,000
118-120 Wentworth Ave = Current campaign
122 Wentworth Ave = April 2016 Auction
124 Wentworth Ave = $2,200,000
126 Wentworth Ave = $1,800,000
128 Wentworth Ave = $1,980,000
|Method of Sale:||Auction|
|Marketing Time Frame:||Nov 2015 – April 2016|
|Sale Date:||Dec 2015 – Present|
|Enquiries:||15-23 per property|
|Number of Bids:||15|
|Sale Price (Under the hammer)||$2,200,000|