CapStra acted as the strategic advisor and transaction manager on the sale of 100-102 Elliott Street, Balmain. The 12,375m2 site with 151 metre frontage onto Sydney Harbour has approval for 102 residential apartments, 19 serviced apartments, 1,425m2 of commercial and retail space and 245 parking spaces.
CapStra undertook a three phase divestment process including procurement of a national agency house (Knight Frank), collation of all due diligence material and preparation of marketing material.
CapStra managed the delivery of an international Expression of Interest marketing campaign, which included a specialist road show through Asia and promotion via existing domestic buyer networks.
The property was exchanged within a week of EOI closure and achieved a sale price 30% above vendor expectations.
The project will achieve a projected total gross realisation of c. $160 million on completion