St Leonards
St. Leonards
Lower North Shore
Client Brief vs Client Outcome:
Brief – We secured a whole floor downsizer apartment for our clients during the traditionally quiet December/January period, off-market for just under $3million.
Our client expected: –
- to buy a large downsizer apartment with sizeable alfresco space…we secured them a penthouse with 180-degree panorama capturing leafy district views. The home has an excellent floorplan, terrace style balcony and exclusive use of the lobby area and direct lift access.
- 3-Bed, 2-Bath, 1-Car……we secured them a 3-bed, 2-Bath,2 -Car
| CLIENT BRIEF | CLIENT OUTCOME |
|---|---|
| Apartment with house-like proportions | Whole floor apartment |
| 3-Bed, 2-Bath, 1-Car | 3-Bed, 2-Bath, 2-Car |
| Good aspect i.e greenery/water views | 180 degree panoramic leafy district and city views |
| Alfresco entertaining space for 6-8 people | Large terrace style balcony designed for indoor/outdoor entertaining |
| Lower North Shore excluding specific suburbs. Close to local shops | St. Leonards, walking distance to station and shopping village |
Search:
We supported our clients through the marketing campaign and auction of their family home, and understood heir need to find a downsizer apartment with house-like proportions. The search was challenging due to the low supply of 3-bedroom, 2-bathroom, 1-car space renovated apartments on the Lower North Shore within their $3 million budget.
We weren’t prepared to compromise on our clients’ brief. Over an 8-month period, we viewed over 100 properties. We made an offer on one other property, but it sold for a significantly higher price. The Chandos Street apartment emerged as an off-market opportunity in December. Initially unsure about St. Leonards, they were attracted by its proximity to Crows Nest.
Evaluate:
We advised our clients that the strong demand for downsizer homes on the Lower North Shore, combined with limited supply in this price bracket, provided significant asset protection over the long term.
Negotiate :
The property we secured first presented as an off-market opportunity in December. Our initial offer before Christmas was rejected by the vendors. However, in the new year, we successfully secured the property with an increased offer. We capitalized on the lack of an aggressive marketing campaign and the time of year to secure this perfect downsizer home for our clients.
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