Marrickville 2


Locate Negotiate were engaged by their client (ref by accountant) to carry out research, due-diligence for an industrial property which was being marketed by way of Expression of Interest. Key areas investigated were market price (taking into account comparable sales and current rate per sqm), building integrity, potential and compliance.

Locate Negotiate advised their client the need to utilise some other key building and development professionals to complete a thorough assessment of the property. The client accepted that there was additional due-diligence required. Locate Negotiate engaged, co-ordinated and project managed these professionals to carry out their research. The professionals included a Project Manager Builder to access condition of building, BCA (Building Certifier) to check compliance i.e. fire rating, disability access etc., and a Town Planner to access future potential to re-develop and potential zoning restrictions.

Key Points

Locate Negotiate were able to advise their client on a fair market price to submit before the Expression of Interest closed. (Taking into account that there was a strong possibility that there would be considerable amount of work required to make the building compliant). Locate Negotiate’s client purchased the building which was well under the estimate the selling agent was quoting. Happy customer!