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Case Study Investment Services: Level 4 & 5, 43-57 Blazey Street, Richmond

Blazey St  ECE Hero Website

Sale Date: September 2021 

The Property

Whole floor office suite within an off-the-plan office project being marketed on behalf of MAB. The office was located on the top floor of the future office project. 

The Challenge

The property was being marketed completely off the plan with no demolition or construction works underway. Additionally, the size of the floor meant that the quantum of dollars far exceeded the realm of where strata buyers usually are interested in. 

The Process

We opted to isolate the whole floor opportunity separate to the overall project listing and ran a 4.5 week Expression of Interest campaign targeting large owner occupiers in the area looking for whole offices. We used social media marketing as well as a bespoke video to market the floor to prospective purchasers 

The Result

Colliers received two competitive bids on the Level 5 floor from two large owner occupiers in the local area. Having leveraged the buyers off each other, Colliers managed to shuffle the buyer with the lower offer to Level 4 and we were able to conclude two transactions in one for a combined $13.8m. 

Testimonial

"Colliers negotiated the sale of Level 5 and were conjunctional agents on the sale of Level 4 at Yarraberg Workspaces. MAB were highly satisfied with the level of service and outcome achieved for both of these transactions."

Tom Foley

Assistant Development Manager| MAB  Corporation


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