EIGHT PEARSALL LOTS LISTED FOR SALE BY ‘EXPRESSIONS OF INTEREST’
4Land Property Group
Investment Property, Residential Real Estate, Property Sales
In a first for 4Land Property Group, the company has listed eight lots for sale at its Terrace Estate in Pearsall by ‘Expressions of Interest.”
According to Dave Gillon, Sales Manager at 4Land Property Group, potential buyers can submit their offers on the eight lots before 29 July, 2012 unless they are sold prior to this date with the best offer being accepted or negotiated.
“The eight lots are located in Stage 2B and vary in size from 305sqm to 320sqm. Similar sized lots in Pearsall have sold from $225,000 to $240,000.
“4Land Property Group decided to use the “Expressions of Interest” market process rather than fixed pricing to give greater flexibility to buyers.
“This is the first time our company has used the “Expressions of Interest” marketing system and we believe it puts the buyers in a position of greater negotiating power as we generally do not negotiate on prices.
“It is also important for buyers to note that strong offers can still be accepted before the “Expressions of Interest” date of 29 July as the seller reserves the rights to do this.
“We believe that the ‘Expressions of Interest’ process is much fairer than auctioning the lots as buyers can still make offers subject to finance and they did not have to undergo the stress of public bidding with other potential buyers.
“In particular, we expect strong interest amongst first home buyers for these 8 lots as they have accounted for around 80% of recent sales at The Terraces Estate.
“A survey of first home buyers who are purchasing land at our Pearsall Estates revealed the top three reasons for buying a lot were (1) Rising weekly rents (2) Affordable property prices (3) Location of the Estates.
“In addition, the expectation that interest rates may fall over the coming year is also encouraging more first home buyers to purchase a lot because lower interest rates combined with competitive land prices means that it is now more affordable to purchase a home.
“Improving infrastructure in Pearsall is also encouraging more first home buyers to purchase lots in the area. For example, the new Pearsall IGA will be opening in June of this year while the Pearsall Primary School will be operating from 2013.
“In addition, Pearsall has easy travelling distance to Joondalup and Wanneroo Shopping Centres and is only 25 minutes travelling time to the City centre.
“The release of these 8 lots by “Expressions of Interest” also coincides with the opening of our new sales office in Pearsall.
“The new sales office, which is located at the corner of Ocean Reef Road and Archer Street, Pearsall, will service land sales at The Terraces, Sunset Landing and Pietro Estates being developed by 4Land Property Group. It is open on Saturday and Sunday from 1pm-4pm.
Further information can be obtained from Dave Gillon on 0412 597 733 or [email protected]
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