A multi-opportunity industrial property in the Maddington industrial area of Perth has been leased for $145,000 preceding the $1.8 million sale of the property by Ray White Commercial Burswood.
Michael Fitzgerald and John Perrett, the acting agents were instructed by the vendor to either lease or sell the property or a combination of both. Subsequently a multi-layered marketing campaign was executed, resulting with a new tenant and owner. The campaign had drawn significant attention due to the successful marketing strategy, with the location, size and quality improvements the property presented.
To achieve maximum exposure to the market, the following marketing campaign was executed:
• Aerial and professional photographs were taken to portray the property’s strengths and enhance our marketing material.
• A 30 page information memorandum was prepared for circulation to all potential investors.
• An A4 double side colour profiles were created and mailed out to over 4,000 private businesses in Maddington and surrounding suburbs.
• Press adsvertisements were placed in the West Australian Newspaper.
• The listing was enhanced and given top spot status to maximise exposure.
Michael Fitzgerald & John Perrett quickly realised that market enquiry was received predominantly from passive investors rather than owner occupiers as originally anticipated.
In order to secure a sale coupled with an attractive return on investment for both potential investors and the Vendor, a quality lease needed to be negotiated immediately to maintain marketing momentum.
The property was instantly offered for lease, resulting in a number of prospective Lessees being qualified and subsequently an equitable lease was negotiated. Once the lease was negotiated with an attractive yield of 8%, all the passive investors who had previously enquired were contacted to reengage their interest in the property.
Shortly thereafter a successful Contract for Sale was negotiated by John & Michael on behalf of the Vendor.
This campaign displayed the necessity to properly monitor the current market conditions and property enquiry in order to promptly adjust the campaign strategy as required to meet the market and create a successful outcome for the both client and purchaser.
|Lease:||$145,000 plus Outgoings & GST|
|Lease Term:||4 + 2|
|Sale:||$1,800,000 plus GST|
|Sale Process:||Private Treaty|