Mosman art deco secured with zero competition
▉ REGION: LOWER NORTH SHORE AND NORTHERN BEACHES
▉ CLIENT: INVESTOR LOOKING FOR RENOVATION PROJECT
▉ BUDGET: $1.65M
Mosman art deco secured with zero competition
Background
Our client, an investor with a keen eye for potential, sought an apartment in the prestigious Lower North Shore or Lower Northern Beaches. They wanted a property that not only offered immediate value but also had significant potential for renovation and capital growth. The brief was clear: an Art Deco building with fewer units, ample natural light, and a bright, airy ambiance.
Challenges
Finding a property that met these specific criteria within the given budget was challenging. The Lower North Shore and Lower Northern Beaches are known for their competitive market and high property values. Additionally, securing a property with renovation potential in an Art Deco building added another layer of difficulty, as these properties are often tightly held and rarely available.
Strategy
To overcome these challenges, we utilised our extensive network and market expertise. We focused on off-market opportunities, ensuring our client had access to exclusive properties that were not publicly listed. Through diligent research and strategic negotiations, we identified a promising 1-bedroom apartment in Mosman. The property boasted sweeping water views and the potential to be converted into a 2-bedroom apartment, making it an ideal investment. In addition, through identifying the property directly and leveraging our strong network in the area, our client was the only buyer to be aware of the property, culminating in zero competition for a purchase in one of Sydney's most competitive and sought after markets, Mosman.
Outcome
Our strategic approach paid off, and we successfully secured the property in Mosman for $1.425 million, well below the client's budget. The apartment, located in a charming Art Deco building, met all the criteria outlined in the client's brief. With its significant renovation potential, light-filled spaces, and stunning views, the property offers immense upside. Our client was thrilled with the acquisition and ready for the transformation possibilities.
