3/31 Gerard Street, Alexandria

The background

The property attracted a lot of interest mainly due to the location, having parkland at both ends of the street and with Redfern station an easy walk. The apartment was also on a small block of only 7 apartments and offered a generously sized layout.

Strategies we employed in this campaign

The property was scheduled with an auction date of 27th March and we attracted immediate solid interest from multiple buyers, most of them keen to make offers. As we approached the final week of the campaign, we were able to identify 1 stronger buyer who was indicating an interest at a level considerably above the other buyers. This saw us commence negotiation with a few parties, resulting in some competition and a price that was well above vendor expectations.