▉ REGION: EASTERN SUBURBS
▉ CLIENT: UPSIZER
▉ BUDGET: $3.3M
The Brief
Our client was seeking a home renovated in Sydney's Eastern Suburbs, with a particular focus on a select number of tightly held streets and neighbourhoods around Bondi Junction, Queens Park, Paddington and Woollahra.
The Challenge
Our client's search was highly location-specific, limiting the number of suitable properties available through traditional market channels.
With limited publicly advertised opportunities meeting her criteria, our challenge was to uncover suitable homes before they reached the open market, while ensuring any acquisition represented sound value.
Our Strategy
We undertook a targeted off-market search, leveraging our relationships with local selling agents to identify and access multiple properties within our client's preferred surrounding area.
This provided our client with the opportunity to assess several properties that were not publicly advertised, allowing us to compare their relative merits and establish a clear understanding of value.
Among these opportunities was 10 Mill Hill Road, a property that had initially carried price expectations of approximately $3.6 million earlier in the year.
Recognising the property's alignment with our client's brief, we undertook a detailed assessment of its value and formulated a negotiation strategy informed by market evidence, the property's history and the vendor's expectations.
The Outcome
Through considered negotiation, we successfully secured 10 Mill Hill Road off-market for circa $3.3 million, approximately $300,000 below the property's earlier price expectations.
Importantly, the acquisition was achieved in one of our client's specifically targeted streets, without the property being exposed to a public sales campaign or competitive auction environment.
The result demonstrates the value of a highly targeted search strategy, access to multiple off-market opportunities and disciplined negotiation, securing the right property, in the right location, at the right price.
