Office Building, St Leonards, NSW.
25-33 Chandos Street
Project Realisation: $40m+
Sale Process: Purchase on behalf of a client and re-sale
CMF Appointment: Sales & Marketing Agent
CMF were appointed as buyers advocate for the purchase of the abovementioned commercial office block in St Leonards, on Sydney’s North Shore. The property is approximately 100m from the train station and part of a zone being gradually converted from commercial office space to its highest and best use as residential apartments.
CMF identified the property and through our Development (DM) and Project Management (PM) divisions undertook all of the feasibility work. We then introduced the opportunity to a number of investors one of whom ultimately retained us to purchase the property on its behalf for a little over $16m.
CMF DM and PM divisions were then retained to undertake all of the preliminary work for the lodging of a D.A. Whilst undertaking this work we entered into discussions with a developer to purchase the site. An original offer of $19m was made, however six months after the original the purchase the property was re-sold for $24m, netting the owner a gross profit in excess of $7m.