The property was originally scheduled to go to auction, but strong competition from qualified buyers prompted a successful pre-auction sale. According to the agents, the level of interest came as no surprise given the asset’s underlying value and potential.
“We knew from the start that this wasn’t just a standard listing,” said Jack Gwyn. “It was a property with a lot of untapped upside, and that’s something experienced buyers pick up on quickly.”
The campaign attracted two serious buyers who submitted highly competitive offers. Both were sourced directly by Jack Gwyn through targeted outreach rather than traditional advertising alone. “We didn’t wait for the market to come to us,” he said. “We went straight to the type of buyers we knew would recognise the opportunity and move fast.”
The vendor, who purchased the property in 2005 for $2,000,000, saw significant capital growth over the 20-year hold. But according to Doyle, the standout result wasn’t just due to timing or market conditions, it was about recognising what the asset could become.
“The rent being paid was well below market,” Jared Doyle said. “That changed the whole picture. Once we did a proper income analysis and presented a case for the asset’s future rental potential, the perceived value jumped significantly. That understanding played a big role in driving up the price.”
“If you’d just applied a standard yield to the passing rent, you’d have missed out on around $1.6 million in value. It really shows how much of a difference the right advice can make.”
The agents say the result also reflects a shift in the industrial market, where informed buyers are increasingly focused on income potential rather than surface-level metrics.
“This sale highlights what can happen when a campaign is built around clarity and precision, not just promotion,” Jared Doyle said. “It was a collaborative process. The vendor trusted the advice, and the buyers responded to a clear, well-substantiated value story.”
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