114 Woodhill Mount Road
Berry, NSW
VENDOR
Private
SOLD
$3M in 2023
THE BACKGROUND
114 Woodhill Mountain Rd Berry consisted of 5 acres of low-lying, scrubby, unimproved land with a dilapidated house, flanked by 100 acres of prime rural pasture (142 Woodhill Mountain Rd) sold by Woodhill 12 months’ prior. This neglected, unkept parcel of land was positioned immediately beside the primary access point to 142 Woodhill Mountain Rd, and was considered an impediment to maximising the potential of the larger neighbouring property.
The new owner intended to use 142 Woodhill Mountain Road as a weekender once their new home was built. Woodhill came up with the proposal that if they bought “114”, they could amalgamate the two physically (yet not legally joining) lots to make one. By doing so, it would open up a wealth of opportunity for the new owner, with an already approved lot for preferred gate access (enhanced security); manager’s quarters (capital-value add and onsite farm hand, privately hidden from the main home); as well as potential dwelling for AirBnB (added income).
THE TASK
To complete a plan of approach, backed up with evidence of value. On approval of Woodhill’s initiative, we were then tasked to identify the owner with the intent to secure the lot.
THE CHALLENGE
To locate and engage the owners, enter into negotiation, and maintain a velocity to ensure the price didn’t exceed more than an agreed % above market. We then needed to secure the property unconditionally, with terms that suited both parties’ requirements.
THE RESULT
Negotiations took eight weeks to achieve $3,000,000; with terms including a lease back, make good, agreed works, and others.
As a result, the seller was able to purchase his dream home, while the purchaser solved a visual impediment; added significant capital value; and ongoing investment returns.
Made possible by Woodhill, this amalgamation is now the closest, most valuable parcel of rural land to the main retail/commercial centre of Berry.
142 Woodhill Mount Road