Our client approached us to help them carry out a high growth oriented investment strategy. They had a budget of $1.5m and after discussing their investment goals at length, we decided on a duplex strategy in the southern suburbs of Sydney.
We developed a targeted suburb and property style strategy for the client in line with their strategic objectives.
We targeted both on and off market properties for our client in the chosen locations, utilising local agent contacts and canvassing for opportunities.
We conducted site due diligence which included an assessment of growth drivers, development feasibility, cashflows, town planning advice, and stormwater engineering advice to ensure we understood each shortlisted site intricately.
We drew on our good relationships with the local agents in that area, having spent considerable time fostering strong working relationships. We kept open, thorough and constant communication with these agents and with our client.
We utilised our internal and external expertise during the due diligence phase, leaving no stone unturned. Additionally, we researched the subject property to understand how the easement issues could be overcome.
Secured optimal property with development potential
We secured a three bedroom, two bathroom weatherboard home in rentable condition on approximately 1100m2. This was achieved pre-auction and was negotiated for $1.385m. Just over 15 months later our client was receiving offers in excess of $2.1m.
The topography of the subject property meant the block was sloping backwards. To combat this and achieve a positive outcome for our client, we engaged the sales agent to negotiate an easement with one of the rear adjoining properties, in our client’s favour.