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Case Study Investment Services: Suite 202, 12 O’Connell Street, Sydney

12 OConnell  Hero Image

Sold prior to Auction after less than 14 days

Client: 12 Connell Pty Ltd
Sale price: $2,528,300 ($13,100sqm)
Yield: VP
Total area: 193sqm
Asset type: Strata Office

Challenge

Colliers faced numerous challenges throughout this campaign. The property featured only one window which was positioned at the suites entrance facing directly into the adjacent building. With the asset close to 200sqm, this led to poor natural light throughout the property atop of a very tired fitout before its refurbishment.

Strategy

Our initial strategy focused solely around our key expert knowledge of current market drivers and our experience understanding the potential buyer profile. We took immediate action due to our awareness of owner occupiers and investors facing acquisition hardship upon Transport NSW’s site announcements.
We knew the buyer would be of a medical, legal or “traditional practice” background and we were relentless in positioning the property to these key targets to ensure immediate competitive tension from the start to finish of the campaign.

Results

  • 33% ($628,300) capital gain in under 2 years
  • 2nd highest rate per sqm for the building
  • Sold within 14 days on market through our expert property positioning
  • The sale of this property exceeded our Interstate client’s expectations leading to them being able to purchase an asset within 3 days off market through Colliers experts perfect for their occupational needs
Testimonial

“Hi Angus, I really appreciate your help and you work out a solution for me. You know what I need and deliver a best outcome. You work hard and smart. I feel you have a passion on properties and are a professional businessman. I can see you are on top of Sydney CBD Commercial real estate. I am very happy to do business with you. Thank you so much!”.

Ying (Jeffrey) Yue
12 Connell Pty Ltd
Chief Executive Officer
LEGEND INSTITUTE PTY LTD