The property was owner occupied for over a decade to a professionally run publishing company. Not only did the business thrive, but the owner looked after the property extremely well. The warehouse and printing facilities were impeccable and the building perfectly maintained.
After considerable growth and expansion, the business was sold to an American owned publishing company. With new long term leases in place, the former owner of the company decided it had come time to sell the premises.
We developed a comprehensive marketing campaign to attract investor enquiry. The property, whilst impeccably presented had some challenges. It was located in a business park, hidden from view as well as being a strata building. Both items would make it not only more difficult to market but also limit our buyer pool.
The economic climate however was such that lowering interest rates and short supply of long term investments on the market required investors to broaden their criteria and lower their expectations for industrial property. We worked hard to highlight the numerous benefits to diminish the drawbacks.
We received 4 offers to purchase and sold the property for $2,550,000.
As an aside, our marketing campaign won a 2019 REIV Marketing Effectiveness Award for Best Sales Campaign by a Small Agency.
After selling their business and deciding to retire, we were delighted to assist the family with selling their investment property so that they could move on and enjoy retirement.
We’re proud to lease and sell, through auction and private sale, hundreds of commercial and industrial properties annually. Beyond that, our property management services extend across Melbourne, into regional Victoria and interstate. Our quest for innovation, real experience, unmatched database and the fact that we’re the only commercial and industrial agents with offices that stretch from Bayside to Moorabbin, Dandenong to Carrum Downs and Carrum Downs to Mornington Peninsula has made us the Leaders of the South East.