April 29, 2016

118 Balcombe Road, Mentone

The client
Some years ago our client’s husband passed on and it had come time for this property to be sold. A trusted advisor was needed to thoroughly prepare the property for sale and tidy up the lease for the front retail tenant.

The property
A retail property with a tenant with unfulfilled obligations on a short term lease.

What needed to be solved
There was a desire to sell the property as it was not required for owner occupation. However, the property was partly leased with a poorly worded, ambiguous lease.The biggest and first aspect was to create a trusted relation - ship with the client who was feeling isolated.

Solution
We met with the client, reviewed all the information, created a strategy and implemented with the inclusion of solicitors. Interestingly the strategy did not go to plan as the tenant changed direction well into the selling program.

However, we gave confidence to the client that this would not adversely impact the marketing and target market.  

Our auction day strategy was detailed to the clients and the auction lead up was now complete. We made sure we were available to satisfy all the clients concerns & queries in a timely manner.

Outcome
All our team A and B buyers arrived and the competition began with Matt Nichols conducting the auction. The vendors preferred price was acheived on the second bid. We sold the property for $1,063,000 considerably over the vendors’ expectations. Whilst it was a great result, we think the vendor was equally appreciative of our ability to negotiate the journey through the campaign: more than the great outcome.