Buying Commercial Investments

Client Story – Commercial Investors

Collingwood

The Brief

The client rented a mechanical workshop specialising in exotic cars with a strong local client base.  The business had significant goodwill attached to the premises and significant cash flow attached to trade continuity.  The property was sold and the client was given notice to vacate at the expiry of the existing lease.

The client’s accountant referred them to Synergy to assist with finding suitable premises.  Synergy advised the client that it would be best to purchase a property to protect the goodwill of his business from future relocation.

The Strategy

Synergy identified that much of the client base would be lost if the premises moved more than 4km from the existing site.  Synergy took a detailed brief, inspected the workshop and calculated that a property purchase had to be transacted within a three month period to ensure the least possible interruption to the business.

The Execution

With such a particular brief there weren’t a lot of properties that were suitable but the right one had to be found in order for the mechanical workshop to continue operation.  Synergy’s database of commercial agents were contacted and given details of the brief in the hope that they could contact existing clients who may be interested in selling.  Synergy regularly drove around the preferred locations looking for properties that may suit and approached a number of owners.

The Result

Synergy was able to purchase a suitable property on time and on budget, thereby protecting the clients business and clientele.  The purchase price was $715,000 for 350m2 of space in Collingwood.