the facts

2
harper street

abbotsford

Sold 2 Harper Street Abbotsford 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

Vacant possession, providing opportunity for owner occupiers to purchase, who are generally the best Purchasers in this sector
Located in immediate proximity to the Yarra River
Amendment C220 i.e. the Johnston Street Structure Plan, was recently approved and awaiting gazetting, which rezoned a large number of nearby properties from Commercial to Residential use
Large frontage of 43m onto Harper Street

THE CONS

Property has an asbestos roof that was penetrated the year prior – allowing the Tenant to break the Lease
While rectification works had been undertaken, this was disclosed to all interested parties
Property has a Board of Works Easement on Title
Structural columns throughout, creating some restrictions

The Facts Sale 2 Harper Street Abbotsford Warehouse Commercial Real Estate TCI

Sale 2 Harper Street Abbotsford Warehouse Commercial Real Estate TCI

Sold 2 Harper Street Abbotsford Warehouse Commercial Real Estate

THE CHALLENGES

The asbestos roof caused two issues
- A number of potential Purchasers simply lost interest
- Those that remained, took into consideration rectification works into their submissions under the Expression of Interest
The Board of Works Easement caused three issues
- A number of potential Purchasers simply lost interest
- Those that remained, took a ‘reduced area’ into their submissions under the Expression of Interest
- It restricted current and future development potential, which led to a number of potential Purchasers electing not to submit

THE REVEAL

The marketing campaign received 16,525 listing hits, within the first 30 days – this compared to the market average of 3,248 i.e. 5 times higher
Described as 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
TCI sold the property for $4,400,000 – which equated to $4,731 per m²
Market expectation was circa $4,250 per m²
Despite the challenges, this was a land record at the time, for an Industrial Warehouse in the vicinity – highlighting the strength of our marketing campaign and our negotiation process

the facts

2
harper street

abbotsford

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 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

Contact

Address

Phone

Email

Menu

Social

the facts

2 harper street

abbotsford

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 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

sold 2 harper street

Contact

Address

Phone

Email

Menu

Social

2
harper street

VIEWS
ENGAGEMENTS

SAVE & SHARE
ENQUIRIES