Extended family: well-located city pad
Address: 601/227 Victoria Street, Darlinghurst
Price: $1,795,000
Land: 123sqm
Brief
Cracking into the Sydney market is tough, that’s why we’re seeing buyers approach it in novel ways. This brief had four decision makers, two siblings and their respective partners. One couple would use it as their primary residence, with easy access to work, and the other couple would use it occasionally as a city crash pad, plus an excuse to spend more time together when in town. Ideally, a hint of warehouse style was desired, with a minimum of 2 bathrooms and parking, in a broad swathe of suburbs from Glebe arcing around through Chippendale to Elizabeth Bay.
Challenge
This couple were already deep into their search, but getting frustrated by inaccurate price guides, irritated by some of the agents they had dealt with and occasionally overwhelmed by choice. Meanwhile, the other couple were travelling extensively during the search period. This meant effective communication between all parties was crucial, navigating agent relationships on their behalf and ensuring that we were all ready to pounce on the right opportunity.
Solution
I often talk about finding “your tribe” and I think is crucial to ensure that you don’t just find a property that fits your lifestyle, but that it’s situated in a neighbourhood that you gel with. For these buyers, a central location like Darlinghurst was perfect, with easy access to the CBD, the Potts Point dining scene and Rushcutters Bay. Whilst a harbour view might have meant too great a compromise on the apartment itself, this one was on the same level as the CBD/harbour facing pool and gym deck, so sundowners there were just a few steps from the front door.
Result
Strata reports are absolutely essential reading. While this building had some challenges, summarised in detail for the client, the collective view was that they were not insurmountable and moreover reflected in the price paid. The apartment was spacious, quiet, had a hint of warehouse style, and the building is well located and social. A large apartment below budget. After a decision was made to lease the apartment for the first 6 months, I assisted in gathering, negotiating and assessing property management proposals to get the property leased swiftly on settlement.
“... the greatest benefit was during the negotiation process – Mark helped us properly understand where value resided, he served as a sounding board to talk through complex factors, and by dealing directly with multiple agents on our behalf simultaneously he served as a shield from much of the stress that comes with buying property.
A truly fantastic and refreshingly honest buyers’ agent worth the investment!
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