173/25 Best Street, LANE COVE

Method of Purchase :- Pre Aution

Client Brief vs Client Outcome:

Brief:

A rare find – a large apartment with a side by side double lock up garage

A distinctive brief

Our clients were a young family looking for a home large enough for them to spread out, with space for a home office and crucially a side by side double lock up garage. We bought an oversized three bedroom apartment near Lane Cove village in a resort style development perfect for families with young children.

Our client expected: –

to buy a minimum of two bedrooms plus study, one bathroom apartment with a double lock up garage…we secured a three bedroom, two bathroom oversized apartment with a side by side double garage which could accommodate the husband’s landscaping ute and tools.
to buy ideally in the Lower North Shore and close to amenities and parks. We secured a spacious three bedroom apartment close to Lane Cove village and next to parkland.

CLIENT BRIEF vs OUTCOME

CLIENT BRIEF	CLIENT OUTCOME
Apartment	Apartment
Minimum 2-Bed+study, 1 Bath, 2-Car Preference for double lockup side by side garage with minimum height at least 2.2sqm	3-Bed, 2-Bath, 2-Car Double lockup side by side garage over minimum required height
Good sized home, at least 100sqm	Oversized apartment including two balconies @ 167sqm
Plenty of natural light Green Outlook	Two balconies and large windows keep the apartment feeling bright The complex is surrounded by parkland and trees, Balconies look over natural rock and green landscaping
Open to adding value through renovations	Home is very livable, with kitchen and bathrooms in original condition. Plenty of scope to modernize by laying timber floors and renovating kitchen and bathrooms
Close to public transport for commuting to work, amenities and parks	Between Gladesville and Lane Cove, 5 minutes drive to Lane Cove village. 10-12 minute walk to nearest bus stop. Moments to playgrounds and parks Resort Facilities in complex – 3 pools, tennis courts, spa and sauna

Search:

The client’s need for a specific sized double garage to accommodate a ute and tools made this a challenging brief. With a wide search area across the Lower and Upper North Shore, we assessed various properties but found it hard to find one with the required garage capacity. Fortunately, a large apartment in the Best Street, Lane Cove complex, met the brief perfectly and also offered a family-friendly community environment.

Evaluate:

We compared No. 173 to recently sold apartments and townhouses in the same development, considering factors like position, outlook, and level of renovation. We took a deep dive into the Strata Report and found no evidence of disharmony, ascertained that the financial records and insurance were in order and that there was no major proposed expenditure requiring special levies.

As this apartment ticked so many of the clients’ boxes, we advised our clients to proceed with the purchase

Negotiate :

With no price guide, the vendor was waiting for market feedback for their property. We analysed recent sales data of comparable apartments and townhouses in the complex to determine an appropriate offer. It is a sizeable complex so it was important to compare like with like in this particular building and its resort location. The apartment was for sale, not auction. Our offer considered the apartment’s large size but also its original kitchen and bathrooms compared to nearby renovated properties and took into account the cost of immediate updating.

Our Clients

Whether you’re looking for a downsizer apartment, a first home purchase, a family home or an investment property we are here to support you throughout your property purchase journey.