Client Profile
- Location: Seaforth, Sydney
- Buyer Type: Developer, repeat client
- Goal: Purchase an off-market site suitable for duplex or knockdown/rebuild development with a delayed settlement
Situation
Our developer client required a large, flat block in Seaforth that would serve as the foundation for his next project. The criteria included:
- North-to-rear orientation on a family-friendly street
- A minimum of 800 sqm to accommodate duplexes or single-family homes
- Proximity to major shops, schools, and local amenities
- Ability to build via the CDC process to streamline approvals
Given the competitive nature of the Lower Northern Beaches, the client specified a preference for off-market opportunities only, enabling a faster, more strategic approach.
Challenges
The search for an ideal site in Seaforth presented specific challenges:
- Tightly Held Area: Finding properties that met the size, orientation, and development potential requirements in Seaforth proved difficult due to limited availability.
- Time Constraints: As a time-poor developer, the client required rapid property selection and due diligence to avoid delays.
- Competitive Price Point: Securing a large site in a high-demand area required strategic negotiation to align with the client’s budget.
Our Approach
To meet the client’s needs, we focused on off-market access, comprehensive due diligence, and a tailored negotiation strategy.
- Off-Market Search and Agent Relationships
Leveraging our network, we secured exclusive access to off-market properties that matched the client’s criteria. Within two weeks, we identified two adjacent properties in Seaforth that provided ample development opportunities. This combined site offered significant flexibility for duplex or new home builds, ideal for maximizing investment potential. - In-Depth Due Diligence and Highest-Use Analysis
We conducted thorough due diligence on both properties, assessing site suitability for CDC processes and potential layout options. This analysis ensured that the properties provided optimal development potential, allowing the client to envision a variety of project outcomes. - Direct Negotiation with Vendor for Exclusive Terms
By negotiating directly with the vendor and agent, we secured the properties with 0 competition, ensuring favorable terms and exclusive access. Acting decisively, we finalized the acquisition below market valuation, providing significant value for the client’s investment and meeting his timeline requirements.
Outcome: Securing Dual Properties for Flexible Development Options
Within two weeks, we successfully secured two adjacent properties in Seaforth with north-to-rear orientation, meeting the client’s specifications for site size, development potential, and location. The dual-site acquisition opens multiple development opportunities, from duplexes to single-family homes, providing the client with valuable flexibility for his project.
Key Benefits to the Client
- Exclusive Off-Market Access: Provided access to high-potential properties without competition, ensuring a smooth acquisition.
- Strategic Negotiation Below Market Valuation: Secured the properties at a favorable price, aligning with the client’s budget and project timeline.
- Comprehensive Due Diligence and Flexibility: Determined the highest and best use for the site, allowing the client to maximize development options.
