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Case Study Investment Services: 268 Canterbury Road, Surrey Hills

Hero  268 Canterbury Road Surrey Hills 1

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


Related Experts

Peter Bremner

National Director | Investment Services

Melbourne East

Peter has a total of 25+ years’ experience in the commercial real estate industry including over 23 years with Colliers International. 

He started his real estate career as a Valuer in 1991 at the City of Nunawading and obtained his qualification as a Valuer in 1993.

Peter joined Colliers International in June 1993 and commenced as an Assistant Valuer.  From 1994 - 1997, he concentrated on retail & industrial sales and leasing in Melbourne's south-eastern suburbs. 

Peter joined the Commercial & Investment Sales department at the start of 1998 to specialise in the sale of metropolitan office investments, commercial and residential development sites and vacant possession office sales. Peter’s track record for Melbourne city fringe and metropolitan office investment sales between $10 million - $80 million is unrivalled.

He was appointed National Director of the Investment Sales Department, Eastern Office in mid-2012.

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Ted Dwyer

Director, Melbourne Metro Sales | Investment Services

Melbourne East

Commencing my Commercial Real Estate career in 2009 I am responsible for the co-management of the Metro Sales Team. I throroughly enjoy assisting my diverse range of clients from both the private and institutional sectors with all of their property requirements.

 

Through my role of extensive relationship management I thrive in assiting my clients with both sale and purchase mandates and love the chase of an off-market deal that makes everbody winners.

 

I specialise in selling investment and development grade assets throughout Metropolitan Melbourne between $2 - $15 million. I possess an enviable track record in the city-fringe and inner norhtern suburbs in particular.

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Alex Browne

Manager, Melbourne Metro Sales | Investment Services

Melbourne East

Alex has a broad experience with commercial property in the Melbourne metropolitan area, specializing in selling office and retail assets. A consistent high performer in all aspects of commercial real estate, he is well recognised for his work ethic and ability to service his clients to achieve their desired outcome.

Driven by results, he has transacted with some of Melbourne’s wealthiest private investors in the metropolitan area.

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