Vacant Industrial Building,
Chester Hill, NSW.
15 Everley Road, Chester Hill.
Project Realisation: $5m+
Sale Process: Auction
CMF Appointment: Sales & Marketing Agent
CMF were appointed as sales and marketing agent by administrator Deloitte to sell this building with vacant possession.
We invited submissions from three major agencies and recommended to Deloitte the appointment of JLL.
We ran a comprehensive, overt, marketing campaign culminating in an on-site auction. The campaign attracted over 60 enquiries from owner-occupiers and investors alike. It eventually sold to an owner-occupier.
The property incorporated a modern design office/showroom at the front of the premises and an older style, yet high stud warehouse at the rear of the property. The property also provided a substantial yard/parking area at the front of the building.
The office/showroom to warehouse ratio was significantly higher than most organisations require and with little or no ability to expand the warehouse due to all the spare land being on the front rather than at the rear of the site, limited the overall market for the property.
At the end of the day the result achieved was within 1% of our initial indication to the Administrator.