The sale of the commercial property at 220 & 234 Tingal Road + 10 Burke Street, Wynnum followed a highly unique set of circumstances including legacy, community ties and professional excellence. The family behind the seller were acting as beneficiaries of a deceased estate and had longstanding ties with the community, including Nathan Moore’s grandmother and aunt who had been clients of the family’s hair & beauty salon for over 50 years. This deep-rooted relationship provided an initial connection, as they remembered Nathan from his childhood days. However, the familiarity was not enough, and it was crucial for Nathan and his team to demonstrate their capability and professionalism.
In late 2023, the family contacted Nathan to discuss the possibility of selling the 2,349m² L-shaped ‘Light Industry’ zoned parcel located on the edge of Wynnum’s industrial precinct. The process began with a thorough exploration of options which included determining the best method of sale, estimating the likely sale price, and planning the campaign elements and timing. The property had its challenges, particularly around compliance issues and tenants who had been occupying the space under a handshake deal for well over a decade. Nathan Moore and Benn Woods of RWC Bayside undertook a comprehensive review to fully understand and resolve the compliance concerns, and negotiated formal lease agreements, essential to present a clear and consistent representation of the property’s status to potential buyers.
It was established that an Expressions of Interest campaign was the preferred method of sale where buyers could present their best offer including specific terms and conditions, and the seller had the opportunity to consider non-price factors when making a final decision. Time to review the offers and make a proper decision were critical in this instance given the emotional ties to the site and multiple stakeholders involved in the decision making process.
To attract the right buyers, a four-week advertising campaign was crafted, leveraging an innovative mix of online products to extend the listing’s reach and strategically target specific audience segments. The campaign successfully attracted significant interest, resulting in six formal offers. After careful evaluations, the top four offers were shortlisted and further negotiations led to the top two offers being substantially improved. One unconditional offer with short settlement terms stood out and was ultimately accepted, leading to a swift and smooth transaction within 30 days of signing the contract.
The sale was bittersweet for the sellers who were parting with a property with substantial family history. However, the outcome was positive with the sale price and timing exceeding their expectations.
This outstanding performance highlights how strong local connections, professional expertise and modern marketing strategies can lead to exceptional results.
Call Nathan Moore or Benn Woods today to discuss how the local commercial property experts at RWC Bayside can help you achieve your commercial property goals.
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Nathan Moore | 0413 879 428
Benn Woods | 0408 689 651
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