SOLD I 495 Burnside Road E, Victoria, B.C.
Brandon Selina PREC, Austin Cope, and I have just completed the sale of this exceptionally located church property. To our surprise, this was one of the most sought after properties we have listed this year. While strong interest was expected from owner occupiers, this process blew our expectations out of the water.
This sale showcases the potential to maximize the value of places of worship properties through strategic marketing and targeted outreach. Here is a breakdown of the process and key points.
✍️ Valuation Strategy: The property at 495 Burnside Road E was initially valued based on mixed-use residential redevelopment potential, aligning with the highest and best use based on the property’s land use parameters.
🎯 Market Demand: Despite our initial focus on residential redevelopment, significant pent-up demand from not-for-profits, places of worship, and daycare operators was uncovered.
📣 Comprehensive Marketing Approach: Our marketing materials emphasized vital aspects, including land use parameters based on zoning and Official Community Plan regulations and detailed building specifications tailored to potential owner-occupiers alike.
☎ Successful Campaign: We launched a broad marketing campaign that effectively reached developers and owner-occupiers, resulting in a surge of interest in the property.
📈 Immediate Interest: The property attracted significant interest immediately upon launch, with 7 tours booked within the first forty-eight hours after launch, indicating strong market demand.
💲 Competitive Offer: Within three days of listing, we received a full-price offer, which went unconditional within 20 days in record time.
🏆 Exceeded Expectations: By targeting owner-occupiers and leveraging their capital readiness, we secured a sale price that exceeded the low end of our initial pricing expectations by 25%, delivering substantial value to our client.
For additional information on the successful disposition, please feel free to reach out to the listing team.
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#sold #placesofworship #owneroccupier #colliers #victoriabc
Operations Specialist at SW Construction
1wGreat location