RH Commercial Insight

18 Property Advice & Marketing Case Study Challenge The property required an extensive refurbishment and we provided detailed advice on the items needing a tt ention. Following the refurbishment we we’re appointed to sell the property knowing interest from the owner occupier market would be the strongest, and to maximise the result for the Seller. Solution In order to counter any concerns around possible challenges and / or restrictions (associated with previous fl ooding) we advised the seller to list the property with no price via an Auction campaign to ensure buyers were bidding on an as is where is basis. Result Through a well-resourced on market Auction campaign we were able to engage with a wide range of local and state level buyers to deliver a strong result for the owner. The end buyer was a neighbouring user who purchased the property under the hammer following strong bidding from an Investor. Transaction summary Sale price $1,720,000 Vendor Private Vendor Buyer Neighbour Property details Type O ffi ce / Warehouse Site area 4,046m² Building area 2,330sqm Occupancy Vacant Possession Financial summary Building Area $/m² $738.19/m² Initial yield N/A SUCCESS STORY: 75-79 Randolph Street Rocklea