the facts

the cecil collective
part 2

148 cecil street

fitzroy

Sold 148 Cecil Street Fitzroy TCI - An in depth look behind the scenes of the campaign. We'll explain the pros, the cons, the challenges and the reveal!

THE PROS

Offered with vacant possession, providing opportunity for both developers and owner occupiers to purchase
Located 50m off Smith Street, Fitzroy
High ceiling
Concrete floor
Relatively newer construction – creating no concerns over asbestos or building maintenance issues
Blank canvas property allowing a Purchaser to fitout and renovate at their leisure, without needing to pay for existing improvements in the price

THE CONS

There was a recess in the roof line, due to a natural light setback in the original construction – this highlighted a current/future potential restriction on the property
From a development perspective, the proposed DDO outlined a potential reduction in development height potential
Property adjoined sensitive residential interface, which could again impact development height potential
The potential investment return, in comparison to the price was low, excluding land bank Purchasers
There is little to no commercial activity on Cecil Street – it is a predominantly residential street, with limited commercial buildings on major intersections
A tree was located in the middle of the street, at the front of the property – combined with the narrow street, this created difficulty accessing the property
Close proximity to the Smith Street & Alexandra Parade intersection – which created access constraints, as traffic would build up around the only entrance to Cecil Street

Sale 148 Cecil Street Fitzroy Warehouse Commercial Real Estate TCI The Cecil Collective Part 2 Sold

Sale 148 Cecil Street Fitzroy Warehouse Commercial Real Estate

THE CHALLENGES

The neighbouring residential property was built right up against the boundary – this should not have been approved in planning
This greatly reduced the development potential of the property – in recognition of this, we focused on owner occupiers from the onset
Explaining the recess in the roof line and discussing the current/future impact on the property
Current market conditions had pulled back considerably since the sale of 150 Cecil Street next door at $1,900,000

THE REVEAL

The marketing campaign received 25,916 listing hits, within the first 30 days – this compared to the market average of 3,982 i.e. 6.6 times higher
Described as one of the highest seen for an organic listing, without any redirecting from social media platforms, by an employee of Australia’s most popular real estate listing website
The Vendor ultimately knew that all potential Purchasers had been exhausted and provided them confidence in finalising the sale, taking into consideration the current market pullback and potential current/future restrictions on the property
TCI sold the property for $1,700,000

the facts

the cecil collective
part 2

148 cecil street

fitzroy

THE PROS

THE CONS

THE CHALLENGES

THE REVEAL

the facts

MARKET AVERAGE LISTING

HITS

HITS

higher

Campaign performance

thousand

thousand

VIEWS
ENGAGEMENTS

SAVE & SHARE
ENQUIRIES

market average

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

Contact

Address

Phone

Email

Menu

Social

the facts

the cecil collective part 2

148 cecil street

fitzroy

THE PROS

THE CONS

THE CHALLENGES

THE REVEAL

the facts

MARKET AVERAGE LISTING

HITS

HITS

higher

Campaign performance

thousand

thousand

VIEWSENGAGEMENTS

SAVE & SHAREENQUIRIES

market average

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

sold 148 cecil street

Contact

Address

Phone

Email

Menu

Social

the cecil collective
part 2

VIEWS
ENGAGEMENTS

SAVE & SHARE
ENQUIRIES