60-66 Kingston Street, Oak Flats
The Trustees Of The Roman
Catholic Church For The
Diocese Of Wollongong
{
Introduction
03
Executive Summary
04
Property Details
05
Property Synopsis
06
Recommendation to Improve Marketability
07
Current Market Conditions
08
Auction Results
09
Upcoming Auctions
10
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 Responsibility
18
MMJ Real Estate
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}
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
david.geary@mmj.com.au
Yenson Mui
0421 882 541
yenson.mui@mmj.com.au
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}
Property Address
Prepared By
Date Prepared
60-66 Kingston St, Oak Flats
MMJ Wollongong
February 2013
Ground Floor, 6-8 Regent Street, Wollongong NSW
Title Details
Lot 225-228 DP 13638
Zoning
5(a)
Site Area
2782.4m² approximately
2500
P: 02 4229 5555 F: 02 4226 2040
www.mmj.com.au
Listing Agents
Recommended Method of Sale
Auction
Fee’s & Charges
MMJ Wollongong
2.39% including GST
David Geary | Director | MMJ Residential Sales
M: 0418 423 782
E: david.geary@mmj.com.au
Anticipated Sale Price
Geoff Jones | Managing Director
P: 4229 5555
E: geof.jones@mmj.com.au
Each individual lot valued at $230,000 - $245,000 with all
four lots combined at a value of $900,000 - $1,000,000
Dale Whittaker | Director | MMJ Shellharbour City
M: 0414 376 720
E: dale.whittaker@mmj.com.au
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}
Address
60-66 Kingston St, Oak Flats
Land Size
2782.4m2
Location
The subject land is located in the South Western end of Kingston Street
and situated on the Northern side of the street.
Description
The 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 use
The 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
The properties highest and best use would be
converted to an R3 zoning-Medium Density
selling to a developer as a villa or townhouse
Full analysis of property here. Full analysis of
Residential. Taking this new zoning into
site. Having considered the above options we
property here. Full analysis of property here.
account we confirm the Kingston Street site
would like to note that any further development
Full analysis of property here.
options in the market place have greatly
to the site is subject to the local councils
increased. When considering a market opinion
approval.
we have considered the following:
Full analysis of property here. Full analysis of
property here. Full analysis of property here.
We are pricing the site with the consideration
Full analysis of property here. Full analysis of
• A current sale in one line to a purchaser to
that there is no storm water drainage issues
property here. Full analysis of property here.
utilise the site and building as it stands
and or any unknown easement that a
Full analysis of property here.
• A current sale in one line to a purchaser
developer and council would find to be
buying the site as a villa or townhouse site.
detrimental to any further development.
• 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
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}
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.
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}
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
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.
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.
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}
Address
Auction Date
Sale Price
Address
Auction Date
Sale Price
20 Mailer Ave, Wollongong
February 2012
$471,740
36 Cambridge St, Berkeley
August 2012
$203,000
26 Frances St, Gwynneville
February 2012
$255,000
59, 74&71 19a Market St, Wollongong
August 2012
$479,000
1 McPaul Ave, Dapto
March 2012
$430,000
6, 10&12 19a Market St, Wollongong
August 2012
$449,000
67 Parkside Dr, Dapto
March 2012
$250,000
57, 72&50 19a Market St, Wollongong
August 2012
$405,000
462 Northcliffe Dr, Berkeley
April 2012
$255,000
8&18 19a Market St, Wollongong
August 2012
$303,000
16 Parrish Ave, Mt Pleasant
May 2012
$710,000
58,17&4 19a Market St, Wollongong
September 2012
$483,000
307/19a Market St, Wollongong
May 2012
$170,000
11&39 19a Market St, Wollongong
September 2012
$306,000
602/19a Market St, Wollongong
May 2012
$390,000
70 Windang Rd, Primbee
October 2012
$570,000
8/73-81 Balgownie Rd, Balgownie
May 2012
$390,000
16/23 Market St, Wollongong
November 2012
$430,000
35 Gilmore St, West Wollongong
May 2012
$525,000
6 Phillips Ave, West Wollongong
November 2012
$208,000
Lot 602 19A Market St, Wollongong
June 2012
$190,000
44 Popes Rd, Woonona
November 2012
$770,000
Lot 307 19A Market St, Wollongong
June 2012
$170,000
12 Manna Ave, Figtree
November 2012
$715,000
Lot 35 19 A Market St, Wollongong
July 2012
$145,000
Lot 41 Sheaffes Rd, Dombarton
November 2012
$315,000
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
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}
Upcoming Auctions
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
MMJ Wollongong Auction & EOI Results for Residential Property over the last 6 months
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}
Land Sales
48 Griffiths St, Oak Flats
119 Wentworth St, Oak Flats
Sale Price
$218,000
Sale Price
265,000
Sale Date
October 2010
Sale Date
October 2012
Comments: Old house on site, but not worth much more than the land value – 645m2
Comments: Sold as land, built duplex on site– 695.6m2
36 Bridge Ave, Oak Flats
31 Griffiths St, Oak Flats
Sale Price
$205,000
Sale Price
$125,000
Sale Date
April 2012
Sale Date
March 2000
Comments: Sold as land took two villa homes – 619.7m2
Comments: 695.6m2
CURRENT LISTINGS
At the time of this report there were no comparable vacant lots or duplex
sites listed for sale in close proximity to the subject site.
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}
Villa Home Sales – Used in the equation for the
appraisal
1/48A Griffiths St, Oak Flats
2/48A Griffiths St, Oak Flats
Sale Price
$390,000
Sale Price
$380,000
Sale Date
January 2011
Sale Date
February 2011
Comments: One of two villas on site
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 LISTINGS
At the time of this report there were no comparable vacant lots or duplex
sites listed for sale in close proximity to the subject site.
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}
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.
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{
The method of sale chosen to sell your property
We believe that the subject property will attract
is an important decision, as not all properties
strong enquiry and that placing all interested
should be sold the same way.
parties into competition against one another on
Auction Day will ensure that the highest possible
To maximise profits and minimise selling time, it is
sales price is achieved.
best to consider all options and choose the most
appropriate for your requirements.
Our next multi-property auction for 2013 is
scheduled for March 2013.
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.
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}
Description
Cost
Signage
Signboards produced and erected at site giving best exposure
1 x 1.8 x 1.2 m
$262.00
Illawarra Mercury, Full Colour Advertisement, Saturday Domain Property Publication
1 x Full Page
$990.00
EAC Real Estate World Magazine
2 x Quarter Pages
1 x Half Page
1 x Full Pages
$320.00
$320.00
$630.00
Print Media Advertising
Marketing
Full Colour Information Memorandum produced and sent to parties on request
eBrochure sent to qualified database of buyers - MMJ Wollongong
No charge
2 sent during campaign
Professional photography
No charge
$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
$3,299.00
Total (for all four lots)
Add In Room Costs If Not On Site
$150.00
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With the property market being such a diverse and complicated market place it is important to select a trusted agent with a proven
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track record.
Fee Structure
Our 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 GST
Agency Conditions
MMJ 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 Charges
Advertising 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.
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On appointment we will immediately commence proceedings to ensure the smooth sale of your
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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
MMJ retain their high level of
A significant factor to our
market leading, superior service
staff because of the culture
proven results is our diverse
through an outstanding team.
within the company.
range of specialist personnel.
Our staff are solely dedicated to
Our team is highly experienced
They provide the right
specific areas of commercial
and have the right attitude and
environment where people are
property including sales,
training to deliver results to our
more likely to succeed and
management, leasing, town
clients.
reach their potential. And when
planning, valuation, marketing,
they do, its our clients that see
project marketing and
the benefit.
consultancy .
of clients to provide an integrated
Our staff align themselves with
Offering such niche services
tailored service that is effective
the industry’s best by
means our clients get tailored,
and maximise your property’s
subscribing and joining
targeted and effective results in
value.
associations like the Real
the shortest possible time
Estate Institute, Property
frame, whilst maximising the
We attract, recruit and retain the
Council of Australia and RP
value in your asset.
best people in real estate. Our
Data.
We focus on building long term
relationships with a wide variety
clients benefit from the edge and
exceptional service that our
people exemplify.
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OUR SERVICES
SALES
MARKETING
MANAGEMENT
PROJECTS
VALUATION
TOWN PLANNING
Pre Selling Advice
Tailored
advertising
campaigns
Tenant Placement
Land subdivision
sales
Rental Valuations
Property
Consultancy/Advice
Property Sales
Sale by Auction
In-house graphic
designers
Marketing
Bulk advertising /
discounts rates
Expenses
Management
Industrial strata
Repairs &
Maintenance
Commercial office
buildings
Arrears Control
Mixed Use
Developments
Asset
Management
Property Valuation
Consultation
Feasibility studies
Strategic and
Statutory Planning
Property
Consultancy
Development
Applications
Market research
Rezoning
Applications
Land Tax
Objections
Master Planning
On Site Sales
Pre Selling
Planning
Cash Flow
Management
Town Planning
Statement of
Environmental
Effects
Reports
}
The service we received from
Over the past months in the
We have known David Geary for
After selling and also purchasing
skills offered lower commissions.
David Geary was exceptional. We
process of selling our home and
the past six months. In that time
a property through MMJ
We are confident that the small
were kept informed on progress of
re-purchasing we have engaged
we approached David to sell two
Wollongong I have no hesitation
percentage extra we paid
the sale, and the transition went
the services of David Geary of
of our properties. We purchased
in recommending David to any
achieve us a result better then
smoothly. We were more than
MMJ Wollongong. We have been
another property through David.
client either purchasing or selling
any other agent.
happy to recommend David’s
very pleased with the services
We have found David to be very
a property.
services to our friend’s and family.
David has given, both
professionally and personally.
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
David always followed up on any
enquiries we made and returned
the phone calls promptly, even
called us in Queensland when
necessary.
services on both occasions.
Honest and hard working to
achieve the best possible price
David Geary was very
of a high standard and his
for us.
professional in his attention to us
friendly manner and integrity
as a client and very prompt in
appreciated. I am pleased to
We wouldn’t hesitate in
way laying any concerns we may
recommend MMJ Wollongong
recommending David to anyone
have had at that time. When
and David Geary for your
thinking of buying or selling
selling our home we found him to
property needs.
property.
be one of the best negotiators
~ Mrs Christie and family
that we have ever dealt with and
His obliging manner and pleasant
~ R & D Lee
disposition made it a
Our dealings with him have been
~ AG & OM
he always acting in our best
pleasure to deal with him.
interest. We feel that his
We recommend him to anyone
negotiation skills achieved us a
requiring his professional skills.
higher price than any other agent
that we have previously used.
~ Mr & Mrs Crane
We are glad that we chose him
even though agents with less
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MANAGING DIRECTOR
Significant
sales
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.
GEOFF
JONES
ADDRESS
VALUE
TYPE
Wollongong,
280-286 Keira Street
$25,250,000
Office Investment
Kemblawarra
Kemblawarra Business Park
$25,259,000
Industrial
Development Site
Corrimal
Cnr Underwood & Russell Sts
$10,000,000
Development Site
Shellharbour
5 Burra Place
$8,300,000
Development Site
Fairy Meadow,
118-128 Princes Highway
$6,100,000
Partially completed
Development Site
Shellharbour
Brigantine Drive
$4,400,000
Seniors Development
Site
Dapto
44-52 Princes Highway
$3,900,000
Commercial
Investment
Yallah
Lot 101 Macquarie Place
$2,185,000
Development Site
Figtree
102 Princes Highway
$1,300,000
Commercial
Investment
}
MMJ Real Estate provides
You don’t have to go to the big
services across NSW & the
guys and pay double to get
ACT, however, our client
international exposure.
reach extends to the nation
MMJ continually updates its
systems and procedures to
stay abreast of the latest
trends and methods of
and the world.
With technology rapidly
advertising and marketing.
advancing, staying in touch with
MMJ's services are focused
the wider market is easier and
in and around our 6 offices
more efficient than ever.
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.
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