Mature couple simplifying their investment portfolio.
Well positioned shop and dwelling requiring renovation and a tenant.
What needed to be solved
We reviewed the entire portfolio and advised the properties that will be hard to lease unless there was capital expenditure. The client did not want to spend capital, so the property was identified as saleable.
We created a marketing program focused on our key target markets, to create quality enquiry that we could convert into competitive bidding at auction. We focused on both owner occupiers and investors.
After over 80 bids the two final bidders represented both target groups with the investor winning out at a price of $1,100,000. Considerably above the vendors’ expectations.
The purchaser renovated and we sourced a new tenant soon after settlement.