The Vendors were motivated to sell this property as they were diluting a partnership. Situated on Brisbane Road which is exposed to an extremely high volume of traffic daily – this property was always going to attract significant interest. Freehold properties on this street are tightly held and seen as trophy investments with very few vacancies within the surrounding areas.
Due to the urgency of the sale, we had a 4 week marketing campaign. We had exposure online with enhancements on both Real Commercial and Commercial Real Estate. Other advertising methods included exposure in the local newspaper and both internal and national Ray White Databases.
We were inundated with inquiry and received 6 contracts prior to Auction. Under instructions from our Vendors, we sold the property the day before the Auction and achieved a fantastic sales price for the Vendors. The sale price of $1,210,000 reflected a net return/yield of 5.8%.
|Address:||128 Brisbane Road, Labrador|
|Listing Date:||20 June 2016|
|Total advertising spend:||$6,656|
|Total enquiries:||70 enquiries|
|Sale or lease price:||$1,210,000|
|Sale or lease date:||26 July 2016|
|Sale or lease process:||Auction|
|Set the scene:||This was an urgent sale needed to dilute partnership|
|Introduce the strategy:||4 week marketing campaign with generally a local reach|
|The result:||Sold day before auction, above owners expectations|