This campaign had to over come the obstacle of having just one large A-grade tenant in an office suite which was located out of the CBD. Although we knew we would gather strong enquiry, we were unsure as to the yield the property would eventually be sold on.
This transaction originally commenced with a national print media and internet campaign based on offers to purchase with a closing date. After 60 days without enough feedback to make any quality decisions, the strategy was changed and the property listed with a price.
Once the property was listed with a price the enquiry quickly rose. Clients felt more comfortable in arranging inspections and in making offers. The property was eventually sold at a 10% yield. This weak yield was the result of having only one tenant in a property in a B grade location. The lease was also short in term, being just 2 fixed years with additional options. At the end of the campaign the vendor was very happy with the final result.
|Address||10, 11, 12, 18-20 Stuart Street, Tweed Heads|
|Listed date||29 October 2015|