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RSM Bird Cameron was instructed by St George Bank as Receivers and Managers to sell 356 George Street, Waterloo

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The Challenge

  • To sell a property that had already been offered for sale by two different agents over the previous 12 months without success.

    The property was to be sold with Vacant Possession.

The Solution

  • To present the property to market in a more favourable manner.
  • Devise marketing strategy that would capture a wider market including owner occupiers and developers.
  • Communicate the sale event to all city south existing property owners.
  • Utilise our database of known active potential purchasers for this type of property.
  • Create competitive tension by employing the auction process.

The Results

  • The marketing created a huge level of response, in excess of 100 parties.
  • We persuaded 30 parties to inspect which resulted in 20 contracts being issued.
  • The auction was well attended with strong competition on the floor.
  • Property sold under the hammer for $8.81m which was 20% above the expectation.
  • The purchaser was known to us, as we had specifically approached them as we believed this would suit their requirement.