CASE STUDY INDUSTRIAL MAROOCHYDORE
Sale Timeline Met for Owner The owners of 2/13 Newspaper Place, Maroochydore approached the Northern Corridor Group with a requirement to sell their property within a very set timeline, without sacrificing the achievable price. The issue facing the team was that the market evidence for sales of what could be considered “comparable stock” gave reason for investors to set a lower than desirable value expectation. The 202m2 industrial unit had a strong 5 year lease to a proven local business, with a rent rate comfortably within current market ranges. The opportunity lay in the ability for the Ray White team to place a spotlight on the property’s future growth potential, rather than focusing solely on the current return. Extensive on-market data was utilised to show a strong supply-demand discrepancy for this particular precinct, which gave investors comfort around the low vacancy risk if the tenant were to leave. The longer term potential was further cemented by analysis of the unit’s proximity to the new Maroochydore CBD only 300m away. Given that time was an issue, it was agreed that auction would provide the best method of sale. Strong local marketing and supporting market information served to attract and retain the interest of potential buyers, while the auction sales process created the urgency and perceived competition necessary to drive buyers beyond their “rational” price ceiling.
FAST FACTS • Property Type: Industrial • Address: 2/13 Newspaper Place, Maroochydore, • Marketing Spend $2,000 • Inspections: 6 • Offers: 4 • Enquires: 22 • Days On Market: 28 • Sale Price: $425,000
MICHAEL SHAD FOR TH 0 488 981 0 76
COMMERCIAL PRINCIPAL
The result was a sale under the hammer and a settlement comfortably within the sellers' required timeline.
ONE TEAM - 4 LOCATIONS
* Property outlines, sizes & landmarks indicative
NORTHERN CORRIDOR GROUP