173 Moss Vale Road
Kangaroo Valley, NSW
VENDOR
Private
SOLD
$1.3M in 2024
THE BACKGROUND
Located in the epicentre of Australia’s most well-known valley, Kangaroo Valley NSW, the 1920’s cottage sits at the heart of the tightly held historic business precinct. With its ‘RU5 Village’ zoning, the cottage also carried unusual appeal; permitting the development of the site for residential, mixed retail/food service, and holiday accommodation.
THE TASK
Woodhill was engaged by an overseas-based vendor/trustee to liquidate the property as part of a deceased estate.
Central to the appointment: a 90-day deadline in which to navigate and circumvent the considerable capital gains and land tax ramifications of holding the property beyond an established date.
THE CHALLENGE
With a 90-day timeline to affect the sale and avoid the vendor incurring penalties, generating urgency and highlighting point of difference in a saturated market was key. The dormant market conditions, laden with more than one-year of supply, compounded the deadline, with existing stock on the market for an average of 180+ days.
On close review of the opportunity, we sought to capitalise on the tight-knit community – and the subsequent ‘cross-pollination of information’ that occurs in popular holiday/country towns. Our targeted strategy focused on the ‘likely buyer’ being involved in business, a current retail tenant, or otherwise involved in the area’s flourishing short-term holiday rental market. We carried out a complete review of rental yields, and permissible use was conducted, forming the basis of our market pitch as we went in search of the buyer.
Our concentrated pre-public launch ignited awareness in the business community. Canvassing every business owner in the village, we highlighted the opportunities: to utilise the zoning and own their own retail premises in a prime, high-traffic location.
Several meetings with business owners and inspections ensued, concurrent with an ‘on-market’ public auction campaign to broaden lead capture and generate competition.
THE RESULT
Sold: sight unseen, prior to auction. The investor/buyer was identified within 22 days, and all vendor price/settlement objectives met.
Our simple, yet closely considered strategy of tapping into long-standing business networks where the prolific sharing of information occurs, yielded the result. While the eventual buyer wasn’t a current business owner, nor a resident of Kangaroo Valley, they learned of the opportunity ‘by chance’ while shopping in their favourite eatery on an unplanned, weekend escape from Sydney.
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