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

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.