27 x Houses, Carey Bay, NSW

 

25-37 Laycock Street

 

Project Realisation:  $7m+

Sale Process:            In one line Sale

                                   Project marketing of the remaining 16 units

CMF Appointment:   Project Marketing Agent

 

Once again a financier appointed the whole of CMF's team to this troubled development to protect its investment. The property was under construction and approximately 80% complete. Firstly we needed to complete the project before selling it down.

Whilst construction was being completed CMF Real Estate prepared a comprehensive marketing campaign including; pricing; media; internet; brochures; signage and; the appointment of two local agents to run the day to day inspections and conduct negotiations on the owners behalf.

The complex incorporated 27, three bedroom, Torrens title houses linked by a Community Title incorporating jurisdiction over the road and common land.

These properties were never actually project marketed because prior to occupation certificates being issued CMF Real Estate negotiated a sale “in one line” for all 27 houses to a re-seller at a discount to the market price. Whilst the “retail” price for the properties were not achieved the in one line sale meant that the financier secured their money upfront without the need for the additional time and effort required to negotiate 27 separate deals. 

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