- A commission structure with an increase over a certain price
- Market budget.

THE APPROACH

Prior to commencing work, a reverse brief was provided to the HFT and approved.
- Income-positive (reduce expenses, increase revenue)
- Holloway families can use
- Minimal maintenance

A four-phase programme was determined and agreed upon

Phase One – dispose of one property
Phase Two – develop one property through a joint venture by selling part of the site to a builder. In doing so, the HFT acquires a brand-new residential apartment and cash at the end.
Phase Three - renovate the beach house and keep it for family and Airbnb
Phase Four – extend the rural property’s income potential by constructing six holiday-style luxury cabins

THE RESULT

Phase One – disposal of one property.

To sell the property, we undertook a two-part strategy; each with in-built events that encouraged the buyer to pay more and perform quickly through fear of missing out. This is at a time when the average property sat on the market for over 180 days.

The buyer wasn’t known to us, but found through strategic calls. The property exchanged in 11 days, and the result was $500,000 more than expected. This was also $800,000 more than a neighbouring property with substantial improvements, on the market for approximately 100 days with all the marketing budget spent.

We didn’t require any marketing money, returning it in full to the HFT. Phase Two has now begun.

Woodhill was engaged by an overseas-based vendor/trustee to liquidate the property as part of a deceased estate. 

Central to the appointment: a 90-day deadline in which to navigate and circumvent the considerable capital gains and land tax ramifications of holding the property beyond an established date.
 

THE CHALLENGE

With a 90-day timeline to affect the sale and avoid the vendor incurring penalties, generating urgency and highlighting point of difference in a saturated market was key. The dormant market conditions, laden with more than one-year of supply, compounded the deadline, with existing stock on the market for an average of 180+ days.
 
On close review of the opportunity, we sought to capitalise on the tight-knit community – and the subsequent ‘cross-pollination of information’ that occurs in popular holiday/country towns. Our targeted strategy focused on the ‘likely buyer’ being involved in business, a current retail tenant, or otherwise involved in the area’s flourishing short-term holiday rental market. We carried out a complete review of rental yields, and permissible use was conducted, forming the basis of our market pitch as we went in search of the buyer.
 
Our concentrated pre-public launch ignited awareness in the business community. Canvassing every business owner in the village, we highlighted the opportunities: to utilise the zoning and own their own retail premises in a prime, high-traffic location. 

Several meetings with business owners and inspections ensued, concurrent with an ‘on-market’ public auction campaign to broaden lead capture and generate competition.

Sold: sight unseen, prior to auction. The investor/buyer was identified within 22 days, and all vendor price/settlement objectives met.  
 
Our simple, yet closely considered strategy of tapping into long-standing business networks where the prolific sharing of information occurs, yielded the result. While the eventual buyer wasn’t a current business owner, nor a resident of Kangaroo Valley, they learned of the opportunity ‘by chance’ while shopping in their favourite eatery on an unplanned, weekend escape from Sydney.

Woodhill was engaged by a private family trust to undertake a strategic review of its four residential properties. The goal was to prepare and present an evidence-based strategic plan, one that would ensure the trust maximised the best return and capital growth for the benefit of this generation, and those to follow.

Our four-phase plan was unanimously approved by the client. In essence, it disposed of working capital and the removal of a substantial land tax obligation. The remaining phases (yet to be undertaken) are a mix of development and other improvements. The result is an unencumbered portfolio, and a brand-new property suitable for holiday use, achieving significant rental returns and high profitability.

THE CHALLENGE

In market conditions where properties take more than 180 days to sell, our plan set a pathway to create campaign urgency and force buyer competition where there isn’t any.

We began our sales strategy immediately after signing the incentive-based Agency Agreement. This involved a laser-focused search for the buyer we had ‘imagined’ in our strategic plan: and who we found after 72 hours of direct phone calls and meetings. The result was an unconditional sale. Sold off-market - $4,000,000 ($7,181/sqm) within 10 days of the Agency Agreement being signed, and settlement within 28 days. 
 
There was not a dollar of vendor advertising money spent. It was fully refunded, and no inspections were undertaken until an offer was accepted. The buyer had just three days to exchange the contract before others were introduced to participate. Just days after unconditional exchange, a highly comparable property a few doors down, came on the market in a public campaign. The property was on a larger lot, complete with a significant home, before quickly selling for $650,000 less.