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Case Study - Commercial Property - Sales

Case Study - Commercial Property - Sales

Published on Saturday, 04 August 2007

Ref: EK/4/8’07           Eamon Kennedy – Partner Kirkby & Diamond

Objective
Acting on behalf of two private individuals to sell their properties as a joint site in order to maximise its full development value.

Strategy
Initially we took on one part of the site and were able to advise the owner of the unit to the front of the site that merging the two properties together would create a far larger capital value which they would both benefit from.

To market the site to its full potential by mailing out property particulars, marketing on the internet and local publications, in order to attract interest from private individuals and developers.

Implementation
After a period of marketing a substantial amount of interest was generated for both properties as a site for residential redevelopment.

A formal tender procedure was introduced with bids to be in by a certain time period. Once all bids were in Kirkby and Diamond were able to advise the client who they should sell the property to. This was subject to identifying who the purchaser would be along with time scales for exchange and completion, and how the purchase would be funded.

The Result
Both clients were happy with the approach and advice Kirkby and Diamond provided which ultimately resulted in them achieving well in excess of what the units were worth, sold individually.

Kirkby and Diamond were able to advise as commercial chartered valuers, along with the best means of disposal through their agency department.

The site eventually sold as a whole which saw the clients achieve a market value well in excess of what they would have achieved if the properties were sold individually.