We were brought on to source a site for a dental practice in Sydney. The client engaged us to help them find the right property so he could branch out and create a ‘Home’ site for his business.
We provided strategic location advice by heat mapping their existing client base and overlaid this data with pockets of opportunity determined by an analysis of growth drivers. We also matched this to key demographics and competitor analysis.
We canvassed the market for on and off market opportunities once the location brief was determined.
We sourced this site off market and conducted due diligence on behalf of our client. Additionally, we conducted a competitor analysis, a zoning assessment for permitted use, checked development capability and worked with builders to determine overall costings based on varying scenarios.
We conducted pricing research to determine a fair market value. This was a tricky task given there had been little to no comparable sales in the past three years, and being an off-market acquisition meant there was no price tag attached. We negotiated the property price with the help of our in house experts, achieving an optimum outcome for our client.
We utilised our inhouse research team to provide the necessary data and information which guided our decisions throughout this process. Our associate buyer's agent was persistent in reaching out to all key agents in the area, and we mobilised our other agents to generate opportunities. Our Lead buyer's agent co-ordinated internal and external stakeholders to piece together the deal and ensure its viability.
Secured optimal property for client’s purposes
We secured the commercial property off-market with extension capabilities and dual road access in a central and desirable location. The client has now completed his rebuild of the site that houses seven dental chairs, accommodating his business growth and providing an exciting and modern work environment for his staff.
Investment upside
Our client has revalued the property pre-construction and achieved a conservative bank assessed growth rate of 15%, with an anticipated net gain of 25% post-construction. This property has turned out to be not only an ideal site for his practice but has also proven to be an exceptional investment.
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