80 Appin Rd, Appin NSW
Building type: Retail
Building area: 1,343m2
Land area: 4,629m2
How Did Prosper Group Assist Their Client?
Prosper Group used their experience and knowledge of the market to negotiate a $100,000 saving for their client off the asking price, which was more than the cost of Prosper Group’s fee.
Prosper Group enabled their client to act quickly and confidently to negotiate an offer and acceptance and secure the property in an exclusive due diligence period before the property was properly marketed.
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 various issues with the building that potentially were going to cost their client capital expenditure in the short to medium term. This information was presented to the vendor and Prosper Group negotiated a further reduction in the purchase price of $50,000.