Sale/Lease Date: 6th May 2020
The Property: 117m2 warehouse unit – Mortgagee Sale
The Challenge: We launched our campaign in Chipping Norton ready to host an on-site auction for the property that was sure to gain strong local interest. However, with changes in the environment, we quickly converted to an online auction, and had four registered bidders on Auction day. The property passed in on auction day, however our office remained pro-active and created urgency with multiple buyers post Auction, which resulted in a higher price than what it passed in for.
The Process: We recommended that our client invest in an integrated marketing strategy that covered all the bases – online, signage and comprehensive Information Memorandum distributed to purchasers. We leveraged our extensive database with multiple email marketing campaigns sent during the campaign, along with a virtual property inspection. Kyle Dewey & Rino Gazzera created an incredible amount of urgency and competition post Auction, keeping in touch with 7 key prospective buyers daily, high levels of communication, giving each purchaser multiple opportunities to put their highest and best offers forward. This gave the client/mortgagee the chance to secure the best price in a turbulent market along with suitable settlement terms.
The Result: The property exchanged to an investor on the 6th May 2020 with a 42-day settlement. There were 100 registered enquires, the property sold for more than 10% higher than what it passed in at Auction for.
At Colliers, we maximise the potential of property to accelerate the success of our people and our clients. We continue to demonstrate creativity and drive to achieve the best results for our clients, no matter the environment.