Challenge
No substantial rural property had sold in the Northern Territory for four years. Reputation for having large Mimosa Pigra infestation and severe lack of repair and maintenance performed on fencing, plant and equipment. Strong pull back in the sole market for far northern cattle producing properties in the Northern Territory; the Indonesian Crisis. High annual rainfall in region limits the use of productive floodplain country for a number of months a year. Public road bordering the north of the properties creating fire and theft issues.
Strategy
Recommended a Registration of Interest campaign followed by a tender process with a set campaign completion date and bidder requirements.
Extensive advertising campaign offering properties for sale.
Targeted buyers across a broad demographic and geographic for properties as well as via Colliers Agribusiness network.
Colliers Agribusiness managed the whole campaign process, including preparation of all marketing proofs and property related reports and material for client approval.
Results
Colliers Agribusiness managed the ensuing tender offers and complex negotiation process between the vendor and a number of purchasers, which resulted in offers being accepted.
- 33 enquiries
- 4 compliant tenders and cleared deposits
- A good mix of both domestic and offshore buyers, with interest varying from owner occupier to passive investors
- Properties sold directly by tenders.
