Market Snapshot and Talking Real Estate with Sean Garlick Garlo’s Pies
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Talking Real Estate With Sean Garlick Garlo’s Pies
Wrapping up 2020
The consequences of 2020 were expected by many to bring down a sledgehammer of hurt on all property across all sectors. The fallout from the economic downturn was predicted to be widespread and all encompassing. But as the year progressed, it became evident some segments of the market would not only survive but, indeed, thrive. That seems to have been the outcome for many segments of the property market – but not all.
Blue sky’s or head winds? SQM research is reporting 5-7% increases in 2021. Many experts predicting growth on the back of a rebound in the economy and low interest rates.
Where are we at?
Property Acquisition (Owner Occupier)
Price Range: $4,600,000
Locate Negotiate were engaged 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 rates 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 investigations.
The professionals included a Building Project Manager to access condition of the building, BCA (Builder 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.
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 Negotiates’ client purchased the building which was well under the estimate the selling agent was quoting. Great outcome for the customer.
GROWING BUSINESS FINDS THE RIGHT PROPERTY
I would like to thank Locate Negotiate for their proficient help in finding a new location for our growing business in Seven Hills NSW.
As anyone in business realises time is hard to come by, Locate Negotiate searched for potential properties, short listed, undertook the necessary due-diligence and then negotiated the right outcome on the property which was perfectly suited for my business.
Locate Negotiate, completely understood the brief and got to work. Their skill set, market knowledge and experience really shined through.
I have no hesitation in recommending Locate Negotiate.