Client Profile
- Location: Bondi, Sydney
- Buyer Type: Seasoned investor
- Goal: Purchase a lock-and-leave apartment within 100m of Bondi Beach, offering strong rental yield and minimal maintenance
Situation
Our client, an experienced investor with an extensive property portfolio, sought a high-yield, low-maintenance property close to Bondi Beach. Key requirements included:
- Immediate rental income in a prime location with beachside appeal
- A fully renovated, lock-and-leave apartment requiring minimal upkeep
- A rental yield aligned with his portfolio goals, targeting a specific return to complement his existing investments
The client relied on us to navigate Bondi’s competitive market and secure a high-value property that aligned with his strict investment criteria.
Challenges
The search for a high-yield property in Bondi presented unique challenges:
- Limited Stock in Desired Price Range: High demand for beachside properties created limited availability within budget.
- Competitive Price Point and Specific Yield Requirements: Achieving a strong rental yield in a premium area required a strategic approach to property selection and price negotiation.
- High Competition at Auction: Popular Bondi properties often attract multiple bidders, requiring a tactical bidding strategy.
Our Approach
To meet the client’s needs, we focused on auction bidding strategy, thorough due diligence, and post-auction negotiation.
- Targeted Search and Due Diligence
Within a short search period, we identified a fully renovated two-bedroom apartment in a small Art Deco block, located just 100m from Bondi Beach. The apartment, rented for $1,600 per week, provided a strong rental yield and low-maintenance appeal, fitting seamlessly into the client’s investment portfolio. We conducted comprehensive due diligence to ensure it met the client’s high standards and investment criteria. - Expert Auction Bidding Strategy
To navigate the competitive auction, we implemented a calculated bidding strategy that positioned us as the highest bidder when the property was passed in. This allowed us to enter post-auction negotiations from a position of strength. - Post-Auction Negotiation Below Reserve
After the auction, we engaged directly with the vendor and agent, negotiating to secure the property below the set reserve price. This approach met the client’s investment goals and ensured a favourable purchase price despite the competitive market.
Outcome: Securing a Prime Bondi Apartment Below Reserve with Strong Rental Yield
Within a short search, we successfully secured a two-bedroom Art Deco apartment in Bondi, achieving a high rental yield and low-maintenance appeal. Our post-auction negotiation allowed the client to acquire the property below the reserve, maximizing value and enhancing his property portfolio.
Key Benefits to the Client
- Auction Bidding Expertise: Utilized a tactical bidding strategy to ensure a strong position for post-auction negotiations.
- Thorough Due Diligence: Confirmed the property’s yield, condition, and suitability, ensuring a smart investment.
- Post-Auction Negotiation Strategy: Secured the property below reserve, achieving strong value in a competitive market.
