Case Study: 1 & 1A Shakespeare Road, Milford
 
Description:
A high profile corner site in two titles occupied by Configure Express Gym and Fruit World as the two tenants in separate buildings.
 
Tenancy(s):
Configure Express Gym returning $104,393 pa + GST + outgoings
Fruit World returning $76,000 pa + GST + outgoings
 
Campaign:
Four week Auction campaign.
  
Campaign Strategy:
Total Property Package A was utilised. This featured a full colour page in Bayleys Total Property Portfolio, colour display advertising in the New Zealand Herald, internet page, signage and HTML email to personal purchaser database.
 
Given the quality location and well known tenant in place, investors and developers were chosen as the target market
 
Market Response:
A total of 183 inquiries were generated.
 
Sale Price:
The property was sold in their individual titles with Configure Express Gym sold for $1,450,000 represents a 7.2% return and Fruit World sold for $1,095,000 represents a 6.9% return.