The opportunity to purchase 51 Kremzow Road (“the property”) was initially included with the adjoining property, 49 Kremzow Road. Both properties were offered to the market in one line with vacant position. The properties together provided two opportunities for redevelopment or renovation/occupation.
Marketing of the properties included extensive signage at the property due to its prominent position, along with both print and digital mediums. Enquiry and inspections were consistent throughout the 5 week campaign. The majority of interest was from owner occupiers and speculative investors.
Both properties on auction day were offered in one line, however, feedback post auction indicated demand for the purchase of each property individually. Within a short timeframe post auction, 51 Kremzow Road was under contract and subsequently settled. Not long after, 49 Kremzow Road was under contract to an separate buyer and is now unconditional with an extended settlement period.
The main features of the properties included:
– Three (3) freestanding buildings on combined site area of 5,485m²*
– Prominent corner position on the main intersection in Brendale
– Considerable frontages to Kremzow Road and Leitchs Road
– Easy access to major transport routes including the M1 motorway
– General Industrial Zoning, located opposite new retail outlets.
|Method of sale:||Auction|
|Marketing timeframe:||5 weeks|
|Sale price:||$1,420,000 + GST|
|Settlement date:||5 February 2016|
|Tenancy status:||Vacant possession|