Redfern, NSW 2016
Type of Property: 4 bedroom Terrace with parking
Reason for Purchase: Primary Residence and Future Investment
Address: Kepos St, Redfern NSW 2016
Macroeconomic Concerns:
The clients had recently relocated from Melbourne and specifically stipulated that they wanted to be in the Surry Hills or Redfern precinct. They required outdoor space and off street parking, with a keen sense for renovations, their ideal opportunity was something with potential but still conducive to their current lifestyle pre-renovating.
Stock Specific Mandate:
The clients desired an opportunity for renovation to enhance specifications to own tastes. However, they wanted to live in its current condition and perhaps maintain residency throughout the build.
On-Site Interactions:
Multiple options were short-listed in close consultation with the client, but were not to expectations as methodically vetted. The recent market had low listings with public campaigns not particularly to client’s appetite. Utilising Cohen Handler’s strong market recognition as a market influencer, professional relationships with local real estate agents uncovered a number of pre-market opportunities.
Negotiation & Bid Methods:
The Kepos St, Redfern property was presented as a pre-market opportunity to the clients. Initially, the clients were not keen on the floor plan and rejected the property from the shortlist. However, a week later when the property went live online, it was advised that they sight the property in person to justify ruling it out. After this initial viewing and in close consultation with Cohen Handler, we were able to open the clients’ minds to the potential this property held, as well as the top tier location and value opportunity.
With many of the features meeting the client mandates including a gentrified, street curb appeal outlook, discipline to the search had provided results. A strong bid was offered to the vendor and closed feedback loop maintained in dialogue. With transparency given by both parties, the clients were very satisfied to secure the property at a valuation threshold $70,000 under campaign expectations.
Client Testimonial:
“Having moved from interstate we were not only unfamiliar with the specifics of the area, but also differences in real estate procedures. The suburbs we targeted were also tightly held and we believed that we would need additional advantage. During the introductory meeting, Daniel and Cohen Handler came off as very professional and highly informed. Daniel Trelease was our buyer’s advocate and became our direct contact for all things related to our house purchasing adventure.
Daniel was very patient and refreshingly candid in his discussions with us. He took the time to learn our requirements and get a feel for what we were looking for.
In addition to providing us access to unlisted properties, Daniel also organised private inspections of publicly listed properties (and in some cases attended inspections on our behalf) allowing us to work more easily around work commitments and view properties without the distraction of other people floating about. As our intention was to owner occupy, future growth was very much a secondary factor in our purchasing decisions. Regardless, Daniel would routinely provide growth statistics, sales history and other comparison information, always warning us if the sale price was creeping into a range that could result in poor future returns.
When we finally came across the property that ticked our boxes, negotiations moved quickly. All this was completed within a few days of the first inspection and allowed us to secure the property weeks before the auction date. Given the tightly-held and desirable street, I have no doubt that the auction would have been fierce and would have pushed above what we paid prior to auction. I do not believe we could have achieved the same results on our own. Daniel’s assistance after contract exchange was also helpful, and managed everything until Settlement. By being the conduit between us and the vendor’s agent we were able to request and confirm information very quickly – all contributing to a smooth moving in day.”
– Adrian and Jerome