Professional Advice Result in Record Commercial Sale $250,000 Above Vendors Expectations
Thiink are proud to have successfully negotiated a record sale on behalf of our client for four commercial office suites at Zhen Norwest for a record breaking $3,400,000 (Excl. GST) or $8,000 per square metre. Thiink prides ourselves as property professionals and outstanding advise above anything else, with our primary goal seeking to add value to our clients individual assets and commercial portfolios wherever possible.
A great example to highlight this value is what had been achieved for units 113-116 at Zhen. The client came to our Agency seeking opinion of sale value, with Thiink identifying a supply shortage for office suites in Norwest with minimal availability to market for office space 300sqm + for the past 12 months. Typically, a larger commercial property will attract less per square metre than a smaller property which would attract a premium based on overall price point. The advice to advertise the property ‘above market’ at $8,000 per square metre in the current ‘cooling’ market conditions, even whilst two properties had been advertised for less and for several months at $7,500 per square at the time of sale.
We are pleased to advise that within 7 days a contract had been unconditionally exchanged for all 4 units at the suggested price. Underpinning the result was a proactive sale campaign which targeted surrounding owner occupiers (outside of our general marketing campaign) that created the competition to drive the negotiation. Even in current market conditions, property prices remain strong and opportunities to capitalise on 100% plus capital growth from the past 3-4 years remain, which is underpinned by the fact that 2 purchasers also missed out on this opportunity to purchase, as they were unable to act as quickly as the successful buyer.
Thiink’s professional advice and proactive marketing achieved an outstanding end result that successfully secured a record sale price $250,000 more than the Vendors expectations and other Agents opinion of sale value for the same property.
We invite you to contact Greg Langford on 0428 128 488 to discuss how our team can ‘add value’ to your commercial or industrial property and set the new benchmark for any of your real estate needs for Sales, Leasing or Property Management.
Greg Langford | Director
M 0428 128 488