National Housing Association Group Asset Newport, Isle of Wight
A National Housing Association is planning to sell assets worth £22 million over the next 12 months, sought advice on the disposal of a previously rented but now vacant house requiring complete refurbishment. This case study highlights the successful sale managed by our Newport office, demonstrating LRG's capabilities in handling complex property transactions.
- Condition: Vacant, requiring complete refurbishment
- Location: Newport, Isle of Wight
- Market Engagement: 21 viewings, 20 offers within two weeks
Property Overview
Our Newport office was tasked by LRG Corporate Sales to manage the sale of a vacant property on behalf of a national corporate client. The property, requiring complete refurbishment, attracted significant interest, underscoring the market's demand for investment opportunities even in properties needing extensive work.
Marketing Strategy
The sale's success was largely due to a strategic marketing approach that highlighted the property's potential and the expertise of our team at Hose Rhodes Dickson.
Key Marketing Highlights:
- Extensive Viewings: The property saw 21 viewings, reflecting a high level of interest.
- Competitive Offers: An impressive 20 offers were received within a two-week period.
- Outstanding Sale Price: The property sold for 27% above the indicated asking price, demonstrating the effectiveness of our pricing and marketing strategies.
- Efficient Process: The exchange of contracts occurred just four months after the property was listed, showcasing the efficiency of our team.
Team Excellence
The Newport office, particularly the team at Hose Rhodes Dickson, played a crucial role in this success. Their hard work, dedication, and professionalism ensured a smooth and effective transaction process.
Team Highlights:
- Professionalism: The team's expertise and dedication were instrumental in securing a fantastic sale price.
- Client Satisfaction: The client expressed extreme satisfaction with the outcome, praising the team's efforts and looking forward to future successes.
Future Prospects
Given the National Housing Association’s plan to dispose of property assets worth £22 million over the next 12 months, this successful sale sets a positive precedent. LRG is committed to continuing its support, leveraging our proven strategies and dedicated team to achieve outstanding results.
Conclusion
This case study exemplifies LRG's ability to efficiently manage property sales, even for assets requiring significant refurbishment. The successful disposal of the Newport property, achieved through strategic marketing and professional expertise, highlights our commitment to delivering exceptional results for our clients. We look forward to more such successes as we assist Southern Housing Group with their extensive asset sales program.
For more information on our asset sales services or to discuss potential property transactions, please contact us.
