April 29, 2016

10 Bluff Road, Black Rock

Client
Mature couple simplifying their investment portfolio.

Property
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.

Solution
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.  

Outcome
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.