Strata Office Success Amidst Challenging Restrictions
Client: E.F.I Nominees
Sale price: $9,700,000
Total Lettable Area: 1,550m²
Asset type: Office Asset
Challenge
268 Canterbury Road sat vacant and for lease for approximately two years. Colliers Metro Sales Team were appointed to sell the property via Expressions of Interest in an unpredictable market. We thought it was important to re-brand the marketing and create a fresh offering to the market for sale which we believe we achieve successfully. Throughout the six weeks, we were faced with a seven day COVID lockdown which put to the momentum of the campaign.
Strategy
- Colliers take pride in being up to date with the owner occupier buying mandates in the metropolitan office market and therefore actively canvassed a number of groups that we felt would be well suited to 268 Canterbury Road.
- Targeted office tenants in the area of similar size to understand if there was an appetite to buy to occupy rather than lease, given the favourable lending conditions.
- Worked collaboratively with our office leasing team to be armed with the latest leasing deals for speculative investors looking to take on the vacancy risk.
Results
- Pleasingly we has over 20 inspections, majority from owner occupiers, throughout the COVID lockdown interrupted 6 week campaign.
- Colliers received 6 written offers at the EOI close which got shortlisted for a second round.
- Colliers sold 268 Canterbury Road to a local owner occupier – Trident Financial.
Testimonial
“We would like to confirm our pleasure in dealing with you and your team during the Recent campaign where you very successfully managed a great Campaign and negotiated hard on our behalf to secure a very successful outcome. ”
Robert Epstein
Director
E.F.I Nominees
