This office/warehouse property had been under-performing while being managed by a local residential real estate agent.
When GrayJohnson was appointed to reposition the property for sale, the rental was well below market level at $54,000 pa approx.
We worked with the landlord to put a new rental agreement in place.
Once the new lease, for approximately $83,700 pa, was in place our Associate Director, Rory White, utilised the GrayJohnson database to sell the property off market.
The price of $2.8 million on a 30-day settlement was 25% above the vendor’s expectation.
For more information contact Rory White 0439 655 504.