Cammeray Ground Floor Apartment Purchased $50k Under Market Value

CAMMERAY | BUDGET $1.3M

27 May

Written By Billy Gleeson – Founder & Director

▉ REGION: LOWER NORTH SHORE
▉ CLIENT: DOWNSIZER
▉ BUDGET: $1.3M

Webb & Co. purchased a ground-floor apartment in Cammeray well under market value.

Background

Webb & Co. assisted a downsizer in acquiring a new apartment in the Cammeray area. The client, transitioning from a larger property, was looking for a ground-floor apartment that was both practical and within their budget of $1.3 million.

Challenges

This task presented several distinct challenges:

Specific Requirements: Our client was not only looking to downsize but also had specific requirements for their new home. This meant a more targeted and strategic search was required to find a property that met all the criteria.

Ground Floor Preference: Finding a ground-floor apartment within the specified budget was particularly challenging due to the low stock and high demand in Cammeray.

Market Dynamics: The property market in Cammeray is highly competitive, especially for ground-floor apartments. This competition necessitated a strategic approach to secure a property that met the client’s criteria.

Strategy

Under the guidance of Principal Buyers Agent Annabelle Webb and Founding Agent Billy Gleeson, Webb & Co. took a proactive and targeted approach. They specifically focused on off-market and pre-market opportunities in Cammeray, leveraging their extensive network and relationships to gain early access to properties. This approach allowed for a more efficient search and negotiation process.

Outcome

The team's efforts were successful, leading to the purchase of a ground-floor apartment in Cammeray. Webb & Co. negotiated the price to $50k below the market value, securing the deal at $1.25 million, well within the client's budget. This purchase not only met but exceeded the client's expectations in terms of both location and budget.

Lower North Shore

Billy Gleeson – Founder & Director

A Lower North Shore resident of over 20 years, Billy Gleeson is considered one of the North Shore’s pre-eminent and most respected buyers agents, bringing a passion and energy for real estate to Webb & Gleeson Buyers Agency.

With more than 5 years experience in the North Shore real estate market, Billy has facilitated the purchase of some of the region’s most prestigious homes, including a $20m estate in the Lower North Shore and $17.4m architectural residence in Mosman.