Latest News

13 Jul 16

8 days of negotiation pays off!

91 Muir Street, Mount Waverley has been sold to a local developer for $1.551 million.

The 806sqm site located on the corner of Muir Street and Lechte Road, currently comprises of an original three-bedroom home, which offered significant redevelopment potential, benefitting from its flat, rectangular shaped land. 

The site being prominently positioned with high visibility and only 350 metres from Mount Waverley Secondary College, with local amenities being a short walk away, were key factors underpinning the sale.

"The competitive private sales campaign resulted in high levels of enquiries from genuine buyers within 14 days after the campaign being launched." Shufang Zhao said.

“This sought-after site raised substantial interest from developers and home buyers even before it was placed on the market. Our sales team already had several genuine buyers within our database who have been looking for this premium location. Buyers were ready to place an offer before the Section 32 was ready.” Shufang Zhao added.

Shufang noted “We received multiple offers. There was an initial offer at $1.488 million but we worked tirelessly to negotiate a price that is close to our client's heart price. After negotiating back and forth for 8 days, the final sale price was $63,000 more than the first offer, selling for $1.551 million."

First National Waverley City endeavours to achieve great results for its clients, and this transaction undoubtedly is another excellent achievement.

The final sale price reflected a land rate of $1,924 per sqm - a strong result, which Shufang attributed to the site's location in the heart of Mount Waverley's most sought after pocket.

Ms Zhao said the purchaser saw the site as an outstanding opportunity to gain a foothold in one of Mount Waverley's prime locations and will be developing two dwellings on the site.




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