92 Charles Ave

Woodhill was engaged by a private family trust to undertake a strategic review of its four residential properties. The goal was to prepare and present an evidence-based strategic plan, one that would ensure the trust maximised the best return and capital growth for the benefit of this generation, and those to follow.

Our four-phase plan was unanimously approved by the client. In essence, it disposed of working capital and the removal of a substantial land tax obligation. The remaining phases (yet to be undertaken) are a mix of development and other improvements. The result is an unencumbered portfolio, and a brand-new property suitable for holiday use, achieving significant rental returns and high profitability.

THE CHALLENGE

In market conditions where properties take more than 180 days to sell, our plan set a pathway to create campaign urgency and force buyer competition where there isn’t any.

We began our sales strategy immediately after signing the incentive-based Agency Agreement. This involved a laser-focused search for the buyer we had ‘imagined’ in our strategic plan: and who we found after 72 hours of direct phone calls and meetings. The result was an unconditional sale. Sold off-market - $4,000,000 ($7,181/sqm) within 10 days of the Agency Agreement being signed, and settlement within 28 days. 
 
There was not a dollar of vendor advertising money spent. It was fully refunded, and no inspections were undertaken until an offer was accepted. The buyer had just three days to exchange the contract before others were introduced to participate. Just days after unconditional exchange, a highly comparable property a few doors down, came on the market in a public campaign. The property was on a larger lot, complete with a significant home, before quickly selling for $650,000 less.