LANDMARK WAREHOUSE CONVERSION GETS A NEW OWNER

Warehouse conversions always stimulate people’s interest and 106 Beattie Street, Balmain is, without doubt, one of Sydney’s finest examples of an industrial building reinvented as a luxurious private residence. Architects Carter Williamson celebrated the robust heritage nature of the former Softwood Milling site, reimagining it as a boutique development known as The Mill. Number 106 encompasses almost 600sqm of combined indoor and outdoor living space, four bedrooms, lift access to all levels and a dramatic rooftop garden with 360-degree city views as its crowning glory.

The property was recently transacted for north of $6m by Matt Hayson and Rita Lopresti, who worked closely with the vendors on this landmark sale. Matt comments, “We were engaged to sell the home for a number of reasons – our straight-up approach, strong track record of setting benchmark prices for unique and interesting properties, our transparency and our ability to really highlight the bespoke features.

The strategic campaign we recommended was based on elevating the property through the C&H channels, private inspections and inspections held within windows to enhance the walk-through experience for buyers. Firstly, we advised our clients around partial styling to match their interiors and fill out the vast spaces. The property has dual street access and we had to make a call on which entrance we’d bring buyers through for maximum impact. In the end we decided the rear entrance would be used, providing buyers with the private entry experience they’d enjoy if they actually lived there. We also had drone images taken to highlight the excellent city views from the rooftop despite being nestled in the middle of Balmain.

To help our vendors best navigate the sale we walked through lots of recent comparable sales and how these might be broken down by buyers. Overall market conditions were also reviewed, and we plotted a campaign and timeline that we felt delivered the right approach. After each inspection we communicated every conversation and key feedback to the vendors, ensuring they were well-armed with all the information needed to make astute decisions.

To find the right buyer we focused heavily on our database network along with a tailored social media approach, with targeted ads landing on buyers’ FaceBook page as a timely reminder about the property. Buyer demand was solid, especially for a property at this price point, with five contracts ultimately issued. There was interest from within the local Balmain market, the broader Inner West, the Eastern Suburbs, Northern Beaches and even Canberra.

It was critical that we knew this product exceptionally well and spoke with confidence to buyers, giving them assurance, they were buying into a high calibre home. To ensure they had all the necessary information at their fingertips, we provided a highly detailed fact sheet. This included how the car stacker worked and was maintained, lift details, all the building materials and finishes, technology within the home and the construction history. We did this to save them time and to ensure transparency, we also provided a building and pest report along with a range of comparable sales that supported the property’s value.

By targeting the right buyer pool and not rushing the process, we ensured we showed quality buyers a high-end quality asset. The eventual purchaser was shown the property multiple times privately – as many viewings as they felt they needed – so they could feel comfortable with every element before proceeding.

This proved to be a significant sale and a really strong result which highlights the strength at the upper end of our market and buyers’ appetite for unique homes.

Buyer work

It’s what we do behind the scenes all day every day that matters most 

At Cobden & Hayson we know what it takes to help you through the buying process. We conduct weekend, mid-week and private inspections to ensure potential buyers can view a property at a time that suits them. At C&H we have a centralised database shared between five office locations with an avg of 600 new buyer’s being entered each week. We inform eager buyers of the freshest new property listings through email, text or a phone call providing them with an opportunity to view a property before it’s listed on public real estate portals. We build close relationships with buyers with our aim being to link them with their ideal new home all the while providing them with accurate area information, so each buyer can make a smart buying decision. If you’re looking to buy, we’d love to help you today.

Posted in Balmain Office, Inner West, Prestige Home, Property on 10th November, 2020