Case Studies

2-40 Baptist Street and 397-399 Cleveland Street, Redfern, NSW

The campaign attracted in excess of over 200 enquiries, from these enquiries 11 EOI forms were submitted, with 4 parties being selected to a final short list Tender process.

Many of the purchasers had been in direct contact with the vendor prior to Ray White Commercial being exclusively appointed as marketing agents. One party in particular raised their offer at the close of the campaign by $27 million from a previous offer they had submitted direct to the vendor.

The successful campaign and process proved yet again how capitalising on the element of competition via a targeted marketing campaign and carefully controlled process can produce results far beyond expectations.

Surry Hills Shopping Village’ commands a high profile corner location in a high demand inner city Sydney location. Its central location places it immediately adjacent to fashionable Crown Street, Surry Hills containing some of Sydney’s finest restaurants, cafes and bars as well as moments away from all modes of transport infrastructure including the Eastern Distributor Motorway, the proposed Sydney Light Rail extension at Moore Park and only 1.1 km* and 2.0 km* from Central and Redfern Railway Stations respectively.

The Property is a highly desirable asset due to its large land area and current passing income as a shopping centre.

Sales Analysis*
Sale Price:$96,000,000
Land Area:12,322m²*
Zoning:B2 – Local Centre

R1 – General Residential

Building Heigh:9 – 15 metres
Existing Net Lettable Area (NLA):5,360m²*
Floor to Space Ratio:1.25:1 – 2:1
Gross Floor Area (GFA):24,544m²* (STCA)
Price per developable unit:$322,000* (based on 298 units)
Rate per GFA m²*$3,911
Raw or Subject to DA:Raw
Net Income (per annum)2,582,187*
Passing Yield:2.69%
Sales Process
Sale Date:23 April 2015
Sale Type:Expressions of Interest


*approx

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