A decisive pre-auction purchase that secured a top-floor, character apartment

▉ REGION: LOWER NORTH SHORE
▉ BUDGET: $1.6M

Background

Our clients were a young upsizing couple looking for their next home in the Lower North Shore. Their brief focused on a character building, a top-floor position, and a well-proportioned two-bedroom apartment suitable for long-term living.

Challenges

Quality character apartments with top-floor positions are tightly held and rarely trade. This property attracted strong interest early in the campaign, with another buyer actively engaged and intending to compete at auction.

Strategy

Although the clients were initially seeking two bedrooms, we identified the long-term value in this fully renovated three-bedroom apartment.

When the opportunity arose to purchase prior to auction, we acted decisively. We fully prepared our clients by project managing extensive due diligence, and leveraging established agent relationships. The competing buyers were not in a position to exchange on the required timeframe, allowing us to secure the property ahead of auction and fierce competition,

Outcome

The property was successfully purchased prior to auction, eliminating the need for a competitive bidding environment.

Our clients secured a fully renovated, top-floor, three-bedroom apartment in a character building, at a level that represented strong value relative to market expectations.