22
The Trustees Of The Roman Catholic Church For The Diocese Of Wollongong 60-66 Kingston Street, Oak Flats
The Trustees Of The Roman Catholic Church For The Diocese Of Wollongong
60-66 Kingston Street, Oak Flats
Introduction 03
Executive Summary04
Property Details 05
Property Synopsis06
Recommendation to Improve Marketability 07
Current Market Conditions 08
Auction Results 09
Upcoming Auctions10
Land Sales 11
Villa Home Sales 12
Estimated Sale Price 13
Recommended Method of Sale 14
Proposed Marketing Campaign 15
Proposed Marketing Timeline 16
Fee Structure 17
Agent Responsibility18
MMJ Real Estate 2
{
3
Thank you for the opportunity to present this sale and marketing proposal to you we look
forward to welcoming you to the MMJ family.
Our property specialists have assessed your property and are eager to commence
marketing.
Our sales and marketing proposal clearly demonstrates our ability to successfully assist
you with the sale of this property.
Our local knowledge coupled with our marketing strengths make us an easy choice to
represent your property.
We look forward to hearing from you in the future. Should you have any enquiries,
please do not hesitate to contact your sales team.
David Geary 0418 423 782 [email protected]
Yenson Mui 0421 882 541 [email protected]
}
Property Address60-66 Kingston St, Oak Flats
Title DetailsLot 225-228 DP 13638
Zoning5(a)
Site Area2782.4m² approximately
Date PreparedFebruary 2013
Recommended Method of SaleAuction
Fee’s & Charges2.39% including GST
Anticipated Sale PriceEach individual lot valued at $230,000 - $245,000 with all
four lots combined at a value of $900,000 - $1,000,000
4
Prepared ByMMJ Wollongong
Ground Floor, 6-8 Regent Street, Wollongong NSW
2500
P: 02 4229 5555 F: 02 4226 2040
www.mmj.com.au
Listing AgentsMMJ Wollongong
David Geary | Director | MMJ Residential SalesM: 0418 423 782E: [email protected]
Geoff Jones | Managing DirectorP: 4229 5555E: [email protected]
Dale Whittaker | Director | MMJ Shellharbour CityM: 0414 376 720E: [email protected]
}
Address60-66 Kingston St, Oak Flats
Land Size 2782.4m2
LocationThe subject land is located in the South Western end of Kingston Street
and situated on the Northern side of the street.
DescriptionThe subject property comprises of 4 adjoining lots which are all
separate titles. On one of the site is an older still building previous used
by the Roman Catholic Church
Current useThe land is currently used by All Saints Catholic Parish as a mass
centre and for the provision of their community services and groups.
5
}
We understand that the site will be shortly
converted to an R3 zoning-Medium Density
Residential. Taking this new zoning into
account we confirm the Kingston Street site
options in the market place have greatly
increased. When considering a market opinion
we have considered the following:
• A current sale in one line to a purchaser to
utilise the site and building as it stands
• A current sale in one line to a purchaser
buying the site as a villa or townhouse site.
• A current sale as individual lots to a
purchaser for the purpose of a housing lot
or duplex site.
• A current sale to a purchaser buying two
lots adjoining
The properties highest and best use would be
selling to a developer as a villa or townhouse
site. Having considered the above options we
would like to note that any further development
to the site is subject to the local councils
approval.
We are pricing the site with the consideration
that there is no storm water drainage issues
and or any unknown easement that a
developer and council would find to be
detrimental to any further development.
6
}Full analysis of property here. Full analysis of
property here. Full analysis of property here.
Full analysis of property here.
Full analysis of property here. Full analysis of
property here. Full analysis of property here.
Full analysis of property here. Full analysis of
property here. Full analysis of property here.
Full analysis of property here.
There are a number of key attributes to making
sure that your property is in peak condition to
ensure a quick and profitable sale.
• Current survey available
• Asbestos report on the existing building
• Drainage plans to be available in the
contract
• Site to be continually maintained
throughout the process, including grass
areas
• Full details of council rates and water
rates
• Full marketing site plan
We feel that without these items completed it is unlikely that any purchaser will make a decision about the purchase of the property at it’s optimum price. 7
}
The concerns with selling the property in the
current market place will be the ability of
purchasers to access funding and/or sell
another property to purchase the subject land.
However, the sales campaigns for other land
sales have produced encouraging enquiry
levels, with a reasonable number of these
parties being qualified to transact. We have
previously sold many lots and homes in the
adjoining areas and feel confident that we can
find a current buyer in today's market.
8
In spite of this, we are still targeting a
significantly smaller target market than we
would have been pre-GFC. Therefore, it is our
opinion that we will need to ensure, that as
many qualified buyers as possible from local
to state are contacted.
}
Address Auction Date Sale Price
20 Mailer Ave, Wollongong February 2012 $471,740
26 Frances St, Gwynneville February 2012 $255,000
1 McPaul Ave, Dapto March 2012 $430,000
67 Parkside Dr, Dapto March 2012 $250,000
462 Northcliffe Dr, Berkeley April 2012 $255,000
16 Parrish Ave, Mt Pleasant May 2012 $710,000
307/19a Market St, Wollongong May 2012 $170,000
602/19a Market St, Wollongong May 2012 $390,000
8/73-81 Balgownie Rd, Balgownie May 2012 $390,000
35 Gilmore St, West Wollongong May 2012 $525,000
Lot 602 19A Market St, Wollongong June 2012 $190,000
Lot 307 19A Market St, Wollongong June 2012 $170,000
Lot 35 19 A Market St, Wollongong July 2012 $145,000
2 Nyrang St, Keiraville July 2012 $695,000
13 Iris Ave, Coniston July 2012 $335,000
1-3/32 Bourke St, Wollongong July 2012 $1,575,000
6 Lexburn Ave, West Wollongong July 2012 $500,000
4 Phillips Ave, West Wollongong July 2012 $355,000
9
Address Auction Date Sale Price
36 Cambridge St, Berkeley August 2012 $203,000
59, 74&71 19a Market St, Wollongong August 2012 $479,000
6, 10&12 19a Market St, Wollongong August 2012 $449,000
57, 72&50 19a Market St, Wollongong August 2012 $405,000
8&18 19a Market St, Wollongong August 2012 $303,000
58,17&4 19a Market St, Wollongong September 2012 $483,000
11&39 19a Market St, Wollongong September 2012 $306,000
70 Windang Rd, Primbee October 2012 $570,000
16/23 Market St, Wollongong November 2012 $430,000
6 Phillips Ave, West Wollongong November 2012 $208,000
44 Popes Rd, Woonona November 2012 $770,000
}
12 Manna Ave, Figtree November 2012 $715,000
Lot 41 Sheaffes Rd, Dombarton November 2012 $315,000
MMJ Wollongong Auction & EOI Results for Residential Property over the last 6 months
Address Auction Date
Unit 11, 8 Mckinnon St, Nowra March 2013
Unit 4, 8 Mckinnon St, Nowra March 2013
Unit 4, 5 Mckinnon St, Nowra March 2013
Unit 4, 10 Mckinnon St, Nowra March 2013
15 Surfside Dr, Port Kembla March 2013
20 Springdale Close, Blackbutt April 2013
10
} Upcoming Auctions
48 Griffiths St, Oak Flats
Sale Price $218,000
Sale Date October 2010
Comments: Sold as land, built duplex on site– 695.6m2
119 Wentworth St, Oak Flats
Sale Price 265,000
Sale Date October 2012
Comments: Old house on site, but not worth much more than the land value – 645m2
36 Bridge Ave, Oak Flats
Sale Price $205,000
Sale Date April 2012
Comments: Sold as land took two villa homes – 619.7m2
31 Griffiths St, Oak Flats
Sale Price $125,000
Sale Date March 2000
Comments: 695.6m2
}
11
Land Sales
CURRENT LISTINGSAt the time of this report there were no comparable vacant lots or duplex sites listed for sale in close proximity to the subject site.
1/48A Griffiths St, Oak Flats
Sale Price $390,000
Sale Date January 2011
Comments: One of two villas on site
2/48A Griffiths St, Oak Flats
Sale Price $380,000
Sale Date February 2011
Comments: One of two villas on site
31a Griffiths St, Oak Flats
Sale Price $410,000
Sale Date February 2012
Comments: New Villa home
CURRENT LISTINGSAt the time of this report there were no comparable vacant lots or duplex sites listed for sale in close proximity to the subject site.
}
12
Villa Home Sales – Used in the equation for the appraisal
Based on current market conditions and comparable sales evidence, should the subject property be
placed on the market in the near future, we believe that an achievable sales range would be between:
Lot 225 – $230,000 - $245,000
Lot 226 - $230,000 - $245,000
Lot 227 - $230,000 - $245,000
Lot 228 - $230,000 - $245,000
A combined value may achieve between $900,000 - $1,000,000
*The information set out above is a recommendation based on the agent’s knowledge and considered opinion of prevailing market conditions. This is not a valuation and should not be used or relied upon for such purposes, as a number of enquiries made during the normal course of valuation have not been undertaken. No liability will be accepted on the basis of information supplied.
}
13
The method of sale chosen to sell your property
is an important decision, as not all properties
should be sold the same way.
To maximise profits and minimise selling time, it
is best to consider all options and choose the
most appropriate for your requirements.
Having considered the available methods of sale,
given the current economical climate the most
appropriate method of sale we recommend is a
sale by Public Auction.
{We believe that the subject property will attract
strong enquiry and that placing all interested
parties into competition against one another on
Auction Day will ensure that the highest possible
sales price is achieved.
Our next multi-property auction for 2013 is
scheduled for March 2013.
14
Description CostSignage
Signboards produced and erected at site giving best exposure 1 x 1.8 x 1.2 m $262.00
Print Media Advertising
Illawarra Mercury, Full Colour Advertisement, Saturday Domain Property Publication 1 x Full Page $990.00
EAC Real Estate World Magazine2 x Quarter Pages1 x Half Page1 x Full Pages
$320.00$320.00$630.00
Marketing
Full Colour Information Memorandum produced and sent to parties on request No charge
eBrochure sent to qualified database of buyers - MMJ Wollongong 2 sent during campaign No charge
Professional photography $99.00
Online Advertising
Listing on mmj.com.au, realestateworld.com.au, realestate.com.au Duration of Campaign $99.00
Highlighted Property on realestate.com.au (1 property only) 45 days 429.00
Auction
Accredited Auctioneer $150.00
Artwork & Booking
Professional preparation of all advertising material Level 2 Nil
Booking & Administration Fee 6.5% Nil
Total (for all four lots) $3,299.00
Add In Room Costs If Not On Site $150.00
15
}
With the property market being such a diverse and complicated market place it is important to select a trusted agent with a
proven track record.
Fee StructureOur standard fee is 4% on the first $100,000 and 3% thereafter. However in this case, we are prepared to act on a reduced fee
basis of:-
2.39% including GSTAgency ConditionsMMJ and Professionals will provide an Exclusive Selling Agency Agreement in accordance with the Property, Stock & Business
Agents Act 2002 that will outline the terms and conditions of the marketing and sale of the property. The agreement will be in
place for 90 days with a continuation agreement commencing from 90 days until a sale is achieved or a mutual decision is
reached to terminate the Agency Agreement.
Additional ChargesAdvertising funds are due and payable before marketing commences and are expended in accordance with the approved
marketing budget. Advertising charges are subject to change due to price changes with external sources. MMJ also have the
additional benefit of achieving group/bulk rates, which can sometimes reduce the cost of certain elements of your advertising
budget which end up back in your pocket.
{
16
On appointment we will immediately commence proceedings to ensure the smooth sale of your
property, this will include:-
• Work with you to ensure your goals and requirements are clear to ensure they are met.
• Liaising with your legal representative on the preparation of Contracts for Sale and other related documents
• Implementing and monitoring all marketing & advertising activities for the duration of the campaign
• Communicate with our qualified database of buyers and immediately notify them of the opportunity
• Field new enquiries and provide relevant information to qualify and assess purchase ability
• Weekly liaison with you to outline activity and opportunities for sale
• Liaise with your legal representative during the sale process from offer to purchase to settlement.
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{
At MMJ we aim to deliver a
market leading, superior service
through an outstanding team.
Our team is highly experienced
and have the right attitude and
training to deliver results to our
clients.
We focus on building long term
relationships with a wide variety
of clients to provide an integrated
tailored service that is effective
and maximise your property’s
value.
We attract, recruit and retain the
best people in real estate. Our
clients benefit from the edge and
exceptional service that our
people exemplify.
MMJ retain their high level of
staff because of the culture
within the company.
They provide the right
environment where people are
more likely to succeed and
reach their potential. And when
they do, its our clients that see
the benefit.
Our staff align themselves with
the industry’s best by
subscribing and joining
associations like the Real
Estate Institute, Property
Council of Australia and RP
Data.
A significant factor to our
proven results is our diverse
range of specialist personnel.
Our staff are solely dedicated
to specific areas of commercial
property including sales,
management, leasing, town
planning, valuation, marketing,
project marketing and
consultancy .
Offering such niche services
means our clients get tailored,
targeted and effective results in
the shortest possible time
frame, whilst maximising the
value in your asset.
}
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SALES
Pre Selling Advice
Property Sales
Sale by Auction
Marketing
OUR SERVICESMANAGEMENT
Tenant Placement
Expenses Management
Repairs & Maintenance
Arrears Control
Asset Management
VALUATION
Rental Valuations
Property Valuation
Feasibility studies
Property Consultancy
Market research
Land Tax Objections
TOWN PLANNING
Property Consultancy/Advice
Strategic and Statutory Planning
Development Applications
Rezoning Applications
Master Planning
Statement of Environmental Effects Reports
MARKETING
Tailored advertising campaigns
In-house graphic designers
Bulk advertising / discounts rates
PROJECTS
Land subdivision sales
Industrial strata
Commercial office buildings
Mixed Use Developments
Consultation
On Site Sales
Pre Selling Planning
Cash Flow Management
Town Planning
The service we received from
David Geary was exceptional. We
were kept informed on progress of
the sale, and the transition went
smoothly. We were more than
happy to recommend David’s
services to our friend’s and family.
David negotiated an excellent sale
price for our unit, we are very
happy with all aspects of the sale
from start to finish. He also sold us
the unit and we appreciates his
services on both occasions.
~ R & D Lee
Over the past months in the
process of selling our home and
re-purchasing we have engaged
the services of David Geary of
MMJ Wollongong. We have been
very pleased with the services
David has given, both
professionally and personally.
David always followed up on any
enquiries we made and returned
the phone calls promptly, even
called us in Queensland when
necessary.
His obliging manner and pleasant
disposition made it a
pleasure to deal with him.
We recommend him to anyone
requiring his professional skills.
~ Mr & Mrs Crane
We have known David Geary for
the past six months. In that time
we approached David to sell two
of our properties. We purchased
another property through David.
We have found David to be very
Honest and hard working to
achieve the best possible price
for us.
We wouldn’t hesitate in
recommending David to anyone
thinking of buying or selling
property.
~ AG & OM
}
20
After selling and also purchasing
a property through MMJ
Wollongong I have no hesitation
in recommending David to any
client either purchasing or selling
a property.
David Geary was very
professional in his attention to us
as a client and very prompt in
way laying any concerns we may
have had at that time. When
selling our home we found him to
be one of the best negotiators
that we have ever dealt with and
he always acting in our best
interest. We feel that his
negotiation skills achieved us a
higher price than any other agent
that we have previously used.
We are glad that we chose him
even though agents with less
skills offered lower commissions.
We are confident that the small
percentage extra we paid
achieve us a result better then
any other agent.
Our dealings with him have been
of a high standard and his
friendly manner and integrity
appreciated. I am pleased to
recommend MMJ Wollongong
and David Geary for your
property needs.
~ Mrs Christie and family
MANAGING DIRECTOR
GEOFFJONES
Geoff has over 30 years experience in the disposal, valuation, auction and consultancy of residential, commercial and industrial real estate on behalf of clients primarily located in the Illawarra and Sydney regions.
Geoff commenced employment with Martin Morris & Jones Pty Limited in 1974 as Residential Salesman, transferred to Head Office in 1980 as a Commercial/ Industrial Salesman, and soon thereafter appointed Company Auctioneer and Head of Industrial / Commercial Department.
Geoff became Managing Director of MMJ in 1986.
ADDRESS VALUE TYPE
Wollongong, 280-286 Keira Street $25,250,000 Office Investment
KemblawarraKemblawarra Business Park $25,259,000 Industrial
Development Site
CorrimalCnr Underwood & Russell Sts $10,000,000 Development Site
Shellharbour5 Burra Place $8,300,000 Development Site
Fairy Meadow, 118-128 Princes Highway $6,100,000 Partially completed
Development Site
ShellharbourBrigantine Drive $4,400,000 Seniors Development
Site
Dapto44-52 Princes Highway $3,900,000 Commercial
Investment
YallahLot 101 Macquarie Place $2,185,000 Development Site
Figtree102 Princes Highway $1,300,000 Commercial
Investment
Significant
sales
MMJ Real Estate provides
services across NSW & the
ACT, however, our client
reach extends to the nation
and the world.
MMJ's services are focused
in and around our 6 offices
locations in Sydney,
Canberra and the Illawarra
Region namely Wollongong,
Corrimal, Dapto and
Windang.
We have the technology and
systems in place to market to
our local communities, the
nation and the world.
You don’t have to go to the big
guys and pay double to get
international exposure.
With technology rapidly
advancing, staying in touch with
the wider market is easier and
more efficient than ever.
22
}MMJ continually updates its
systems and procedures to
stay abreast of the latest
trends and methods of
advertising and marketing.
