J U S T S O L D - C A S E S T U DY
TYPE INDUSTRIAL
NLA 306M2
SOLD 13/04/21
ENQUIRY 10
OFFERS 2
SALE PRICE $600,000
MARKETING $1,582
FINDING A WAY TO GET A DEAL FOR OUR VENDOR 6/6-8 GEO HAWKINS CRESCENT, BARINGA QLD 4551
The 9-unit development complex had a slow sale uptake, so we decided to pivot on our marketing strategy and target tenants with the intention of selling to investors. There was much more appetite for leasing, and it wasn’t long until we had 2 new leases. The tenant didn’t need the whole space, but the smaller tenancies were sold. We decided to enter into a lease based on a smaller tenancy rate to keep cash flow for our vendor. Working with different buyers, we decided to sell the investment close to asking price with a 6% rental guarantee.
SAMUEL HOY 0423 795 273
SALES & LEASING EXECUTIVE samuel.hoy@raywhite.com
This meant there was a shortfall in rent that the vendor was required to pay out at settlement. This was clear from the initial offer and the figures worked with the shortfall applied so the vendor decided to sell. Samuel Hoy states “Just because the numbers don’t look right initially doesn’t mean there aren’t other options. Understanding investors and financial institutions requirements is paramount.”
MICHAEL SHADFORTH 0488 981 076
DIRECTOR - COMMERCIAL PRINCIPAL michael.shadforth@raywhite.com
DAVID GOLDSWORTHY 0481 996 794
SALES & LEASING EXECUTIVE david.goldsworthy@raywhite.com
raywhitecommercialnortherncorridorgroup.com.au