Flinders Lane freehold transacts to Swiss fund manager, Fidinam, in a deal with Swinburne University
Client: Swinburne University
Sale price: Confidential
Yield: Vacant Possession
Total area: 5,542m²
Asset type: Office investment
Challenge
Achieving a successful campaign and sale on behalf Swinburne University in a very different property market and environment. Having to manage the disruptions of Victoria’s COVID-19 lockdown periods.
Strategy
- Position the property as a significant investment, value add or development opportunity, being offered to market with vacant possession.
- Ensure we clearly understood the client’s strategy and the key drivers of its investors as they reconsider their purpose for the property.
- Directly target the underbidders from our 2018 campaign to generate initial interest.
- Showcase the future possibilities of the property through vision renders, accommodating a variety of outcomes such as co-working office space, ground floor retail or hospitality, education use and activation of the rooftop.
- Target the asset to offshore capital looking to increase their portfolio or purchase their first Melbourne asset, in the prestigious East End of the CBD.
- Adapt with the changing property environment and COVID-19 lockdown by engaging suppliers to create digital mediums of marketing such as virtual tours and video inspections.
Results
- Achieved a successful outcome for Swinburne University with a sale price that well represents the current market conditions and reflects a transaction conducted during an unprecedented time.
- Provided excellent knowledge and management throughout the due-diligence period with the purchaser.
- Collaborated with Office Leasing who provided advice on the vacant building, to continue Colliers’ expertise and knowledge within the market and further service the asset.
Testimonial
“The Colliers team showed an unrivalled level of market knowledge and diligence throughout the entire campaign which delivered a positive result. The depth of professionalism and understanding shown by each member was first class, and we were particularly impressed with the commitment and tenacity of the team throughout the campaign process.”
Nancy Collins
Chief Operating Officer
Swinburne University of Technology