Case Studies

Sale

5, 7 and 9 Ozone Street, Cronulla – 3 Apartment Buildings

Overview

The owners of three residential apartment blocks at 5, 7 and 9 Ozone Street, Cronulla were seeking opportunities to sell their residential properties at a favorable period in the property cycle. The owners had been approached by a number of developers and agents to sell over an 18 month period and had been evaluating a number of different proposals.

The Highland Commercial Property Solution

For comparative purposes, the owners approached Highland Commercial Property to understand our approach and what our team could do to generate an above average sales result for their properties.

Following consultation with the owners, Highland Commercial Property secured a sales agreement for the three properties.

Our team of highly experienced commercial property agents offered the owners a strategic approach to the sale of these properties including:

  • Conducting a review of our broad network of local, national and international commercial investors to uncover suitable buyers
  • Preliminary discussions with prospective buyers interested in securing the properties for commercial development
  • Launched a highly targeted sales and marketing campaign
  • Underwent a three month process of fielding offers from potential buyers
  • Negotiated with interested parties and secured an offer well above current market rates.

Outcome

Highland Commercial property were able to achieve a record sale price based on a rate per square metre for the Sutherland Shire Area.

The properties were purchased by one of Sydney’s leading coastal developers. A Sales figure in excess of $30 million was realised for the three properties representing the second largest ever sale in Cronulla as at 31 July 2017.

The vendors were delighted by the sales figure achieved which was well in excess of historic market rates.

Sale

Three residential Kogarah Bay sites: 180 – 184 Princes Hwy, 186 -190 Princes Hwy and 2-6 Lacey Street

Overview

A consortium of owners had been working with a number of agents to sell three medium density residential sites in Kogarah Bay off market over a two year period. Following numerous approaches from agents and developers they were unsuccessful in selling the properties consisting of 3 properties including a prime corner block position featuring triple street frontage.

The Highland Commercial Property Solution

The owners approached Highland Commercial Property to manage the sales process for this group of properties.

Following consultation with the owners, Highland Commercial Property recommended an on market expression of interest sales campaign which included:

  • Approaching a number of developers to seek expressions of interest
  • A highly targeted expression of interest campaign over a four week period
  • Secured between 7 and 12 firm offers for each property site
  • Achieved a record sales result within four weeks for each property owner

Outcome

Highland Commercial Property were able to achieve a record sales result in a four week period for each property owner.

The vendors were delighted by a combined sales figure in excess of $25 million for the three properties. The sales figure achieved was well in excess of historic market rates.

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