This article is from the Australian Property Journal archive
PRIVATE investment house Ferradini Property Group has joined forces with a private family to acquire a large commercial property in Brisbane’s north-eastern suburb of Boondall, in a deal the sales agent said shows the benefits of building a relationship.
NAI Harcourts Pinnacle agent Ryan Chesney handled the $20.1 million sale on a yield of 4.72%, and said he used to walk by the 2105 Sandgate Road, Boondall on his way to school. The first year net rental is $949,296 + GST.
“I met the owner of this property in my first week of real estate and continued to keep in touch and create a relationship all during my first year.
“I have since then spoken to Gary multiple times a week and had a meeting at minimum once a week at his office and have completed multiple new and existing projects with him.” Chesney said.
NAI Harcourts national manager Jason Luckhardt said the residential market is buoyant and full of success stories, but due to the nature of commercial, “we don’t always get to share the details of the human side of our deals.”
“Ryan has been developing deep and lasting associations with his market and its property owners.” Luckhardt said. “Ryan is seen as a rising star within our commercial network and a real go-to agent.”
David McPhillips of Integrated Property Partners was also involved in the sale.
“We have been working with multiple investors and purchasers seeking a diverse retail trophy asset much like this” McPhillips said. “Combined with our strong and trustworthy relationship with the Vendor, this allowed us to work through the off-market sales process and achieve an excellent result for all involved.”
Ferradini Property Group managing director, Pranay Magan said the centre would attract a strong demand for additional retail, medical tenant users and food lovers alike given the proximity to private day/ boarding school, Nudgee College, Virginia industrial precinct, and the Boondall residential catchment area.
Chesney said the thing he is most proud of is the relationship.
“Our job as agents is to build these relationships with our clients and the property transactions are the by-product of that.
“And perhaps keep an eye on those properties you walk by on your way to school.”
