help please

W

wattle

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We have got a 20 acre property that has absolute water frontage to Lake Victoria ( one of the Gippsland Lakes). We have gained development and subdivision approval so that we have 17 freehold titles within the 20 acres. ( Each freehold title comes with a "share" of the "common area title).
We have set up as a tourist site with eight existing 2-3 bedroom lodges , a managers house/office, and guest facilities ( indoor heated pool, outdoor mineral spa, sauna, tennis court, jetty, boat areas etc).
We want to sell the existing lodges to investors. Onsite management runs all aspects of the bookings, maintenance etc. We also want to sell a further 8 lodges "off the plan".
Our problem is how to we get this information to investors????? Local real estate agents are no help as the whole development is so different for them. We believe our main investor market is Melbourne.
We have set up a website explaining about the development but how do we let investors know to read it ???? (The site is: www.wattlepointsales.com.au and we would appreciate comments on it also!)
Our development is quite unique , bush, water, SPACE, an amazing environment. We don't want to overdevelop it but prefer to keep it to 16 lodges and a special unique environment.
Any ideas????? :
 
Hi wattle

It looks great .... just the sort of place I would take a holiday :)

One question (pretty dumb one, though, so be warned!) ... why do you have no lodge no.16, and jump to lodge no.17?? :confused:

Cheers

Kez

PS. How much for week in a bush view lodge?
 
Hi Kerry,
lot 16 is the managers residence.
For February a week in a bush view lodge ( 2 bedroom) is normally $110 per night but we have a special if you stay 7 nights you only have to pay for 6
Cheers
 
We really just wanted help. Doing a development is a lot more involved than people realise, the marketing is something we had no experience in or knowledge of
 
Suggestion

Wattle

From experience - advertise in the Trading Post - we have used it to sell property, rent property, holiday rentals and so far not had a failure.

The good part about it is it also ends up on line as well as in the paper

Chris
 
Hi Wattle

Congratulations on your lovely development

So you are wanting to sell the freehold with a lease back arrangement or is it a management agreement?

What about all the common areas - is there a body corporate arrangement for these?

I used to sell serviced apartments, and while I appreciate that pooled rentals / management agreements are slightly different, the complexity of the sales often prohibits the interest of local agents. You almost have to do a mini legal degree to be able to understand the Contracts, S.32 and Lease Agreements in order to be able to explain them to the purchasers.

I still have some contacts with project marketers - genuine Agents, not second tier marketers. If you would like some names and phone numbers you are welcome to pm me.

Lakes Entrance recently had a serviced apartment complex marketed quite successfully, was it Number One The Esplanade? You may like to check with their management as to who handled the sales. There is on site management, furniture packages etc, Checking realestate.com.au King & Heath First National Lakes Entrance 03 5155 1201 are handling some sales (resales?) there at the moment.

Good luck with your venture. Yes, there is much more to development than meets the eye. Ask Wilmore & Randall!!

Cheers

Kristine
 
Hi Wattle,

Maybe some info on what you are looking to sell them for on the website may come in handy?? Even one of those "Prices start at..." type things. (Hopefully I didn't miss it on the site :eek: !!!

As per Kristine's post, some info on how the management/body Corp works would be useful!

Dos
 
thanks Chris,
I would never have thought of the Trading Post! Sounds like it would be worth a try, Watch for the ad soon.
Cheers
 
Thanks Kristine, your ideas were really appreciated. We are selling under Management agreements ( we didn't realise lease arrangements were possible). It's taken ages to get the agreements finalised but now I do worry they may scare off some buyers because they are very detailed ( heaps of pages). I thought most people would be familiar with management agreements but it seems they are more common in queensland and nsw rather than victoria.
We have also set up body corp ( more pages!)
We would really appreciate the names of some project marketers ( again until now I did not realise such people existed!!!!).
The Lakes Entrance development is huge and has the advantage of a large marketing / advertising pool, I'm afraid we have to be more limited and careful with our advertising budget.
( Maybe we should see if Hal Todds still around!)
Cheers
 
Thanks Dos,
on the website we put the prices on each unit ( when you click onto them from the aerial photo ) but we could easily also put some pricing on the home page like you suggested.
Maybe we should also put the basic points about the management agreement ( the whole thing would be too much), body corp rules and fees etc. It's hard to know how much info should go on the website and how much should be left to be sent out ( by snail mail) to genuine enquiries.
Cheers
 
Hi Wattle

Don't be daunted by the promotion of Number One, ring the agent and at least have the conversation. We can persuade ourselves of something and yet all agents want listings, but not many are prepared to take on the complexities of properties such as yours.

At least you know that King & Heath have some experience with this type of project, so ring them as a starting point.

Please email me with a 'tag' email and I will send you over the contact details for an experienced project marketer. However, be aware that you will have to be organised in your approach. I know that Richard would be quite open with his time and advice and if he is not interested would be sure to make some suggestions as to who may be interested in handling the project.

But when I say 'organised' I mean 'organised'. And my suggestion regarding your website is to leave it as it is until you have all your paperwork, Section 32s, Contracts etc organised. There's no point in attracting enquiry before you are ready to handle it, you will just squander those enquiries and your money will have been for nothing.

Don't put anything on the market until you can actually sell it.

Cheers

Kristine
 
Advertising

Hi Wattle

Another suggestion is to use Melbourne radio, I have no idea how much it costs but Hopkins River are using it (3AW) to promote their development near Warrnambool.

A friend called in and had a look at them and told me have had a good response from the advertising

Good Luck

Chris
 
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