1311 Gympie Rd, Aspley QLD
Building type: Medical
Building area: 1,076m2
Land area: 3,156m2
How Did Prosper Group Assist Their Client?
After an extensive search across metropolitan Brisbane Prosper Group identified this off market opportunity. This meant that their client did not have to compete against any other buyers in an expression of interest campaign or an auction.
Due to the off market nature of this transaction and the fact that the vendor was not very motivated the asking price was very firm. Prosper Group conducted an initial market appraisal of the property with recent sales and leasing evidence to give their client the confidence that the asking price was a fair market value. The market appraisal also showed that if the property was sold on the open market there was a strong chance that due to the lack of quality investments available it may have sold at a higher price.
Prosper Group identified during their thorough due diligence analysis that there was a discrepancy in the net income of around $10,600 which when capitalised at the purchase yield of 6.4% meant that their client was losing around $165,000. This information was presented to the vendor and Prosper Group negotiated a reduction in the purchase price. This saving for their client off the purchase price was more than the cost of Prosper Group’s fee.