3 Emmerick Street, Lilyfield

The background

An intimate knowledge of the area and intelligent research into the development potential of the property saw David Carrozza and Matt Hayson secure an impressive result for a classic four-bedroom home at 3 Emmerick Street, Lilyfield.

David comments, “The clients appointed us based on our experience with similar homes in the neighbourhood. As it was a deceased estate we communicated constantly with all beneficiaries to alleviate any concerns around the sales process.

“For this particular property, as always, we undertook detailed research on both the home and the area. From this we were able to ascertain that it was a potential development site, ideally suited to the construction of a duplex, subject to approval. With this in mind we were able to formulate an appropriate price guide and show buyers comparable sales.

Strategies we employed in this campaign

“While there was every likelihood that the new owners would demolish the home, we wanted to ensure that it looked its best for sale. We arranged to have the gardens tidied up and the trees trimmed back, helped arrange removal of furniture and organised cleaning throughout. We faced the challenge of the side driveway being narrow and an apartment building looking into the backyard, both of which could be navigated if the property was to be redeveloped.

“We suggested kicking off the campaign with a two-week off-market preview to our database buyers to test the waters and get a feel for interest before commencing an auction campaign and taking it live to the open market. Despite the cooling conditions demand was relatively strong due to the unique development potential and on 24th September 2022 the property sold under the hammer for a strong result of $2.8m.