Reed Street, Cremorne
Address: 5/7 Reed Street, Cremorne NSW 2090
Type of property: Townhouse
Reason for purchase: Investment/future potential primary residence
Client brief: A Hong Kong based expat family were seeking to purchase an investment property which they may also choose to live in for a period upon their return to Sydney.
Overview of the purchase: This client had on a few prior occasions attempted to purchase a property in Sydney using their family as their eyes on the ground, whilst they were based in Hong Kong . On each occasion our client never proceeded with a purchase as they found the process too difficult and couldn’t get a feel for the market or build rapport with agents.
The brief from our client was to purchase a property which was a good investment, however at the same time the property must provide the features of a home which they may live in upon their return to Sydney.
After missing out on the first identified property as the eventual sale price was above market in our opinion. Shortly after, Reed Street was identified to meet the criteria of the property. We inspected the property within the first week of an Auction campaign, however by this stage the agent had already received offers. Within 24 hours of our inspection Prosper Group completed their due diligence and had negotiated a purchase price based on the contract being executed within the following 24 hours. The contracts were exchanged and our clients are very happy.
Buying a property in Australia whilst being based overseas could have been very stressful, but the team ensured that we were well looked after. Prosper Group has very high standards and I felt confident that the team was only ever going to find me the best property for my needs and budget.
Susannah & Dean Geary