Stonebridge Property Group have successfully transacted 347-349 Nepean Highway, Frankston after selling the adjoining property, 345 Nepean Highway, Frankston only two weeks prior.
Stonebridge were approached by the vendors given success and depth of bidders of their adjoining sale, resulting in immediate appointment, and following two week off-market sales process.
The Stonebridge team consisting of Julian White, Chao Zhang and Max Warren were able to harness the momentum of the 11 registered bidders who missed out on the adjoining asset, and re-focus their attention into a strategic two-week exclusive tender process.
This led to two (2) unconditional offers with the ultimate purchaser sourced through the Stonebridge Asia Practise team securing the asset for $2,100,000 on a short-term settlement.
“With interest rates and the cost of debt remaining at an all time low, compounded with a buoyant residential property market supporting their end product sales, developers have continued their aggressive acquisition mindset. We anticipate strategic land parcels within Melbourne’s southeast will continue to be in demand by developers as the residential market continues to flourish” Max Warren commented.
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