Case study · Brighton
A $7.2m beachside site that was never advertised, held by two owners across four apartments, secured for clients who had spent a year getting nowhere.
| Suburb | Brighton, VIC 3186 |
|---|---|
| Purchase price | $7.2m |
| Method | Off-market, multiple vendors |
| Ownership structure | 4 apartments held by 2 owners |
| Client searched alone | 12 months, unsuccessful |
| Time to source with LP Advisory | 3 weeks |
| Time to secure, all vendors | 4 weeks total |
| How they came to us | Referral from a local selling agent |
The clients came to us through a referral from a local agent, after searching on their own for a year. The brief was narrow and they were not willing to compromise on it: a site to build on, bay views, within a specific pocket of Brighton, with the land size and the scope to do what they had in mind.
A brief that specific is not a matter of patience. If you are waiting for a property like that to be advertised, you can wait indefinitely, because there may only be a handful of sites in Melbourne that satisfy it and none of their owners have any reason to sell this year.
When the stock does not exist on the market, the job changes from searching to sourcing. We ran three approaches at once:
Three weeks after we started, we had it. Not a shortlist, the property. The difference between twelve months and three weeks is not effort. It is that they were looking at what was for sale and we were not.
What came out of it was an apartment block. The right land, the right position, the right outlook. It was not for sale, and the four apartments in it were held between two owners.
That is where most buyers, and most buyers agents, stop. It is not one negotiation, it is two that have to conclude together. Either owner walking away ends it, and neither had any intention of selling when we knocked.
Through one of our local agent relationships we obtained the owners contact details, approached both, and negotiated the two positions in parallel into a single deal. That took about a week.
Every owner had to agree, at the same time, to a sale none of them had planned.
Secured at $7.2m. Three weeks to find it, about another week to bring both owners to a signed deal. Four weeks in total, after a year of looking. The clients now have the site they spent that year searching for, and they are building on it.
The narrower the brief, the less the open market can help you. Portal alerts only work when the property you want is already for sale. If it is not, someone has to go and find the owner, and in this case find every owner and hold them together long enough to sign.
That work is not a listing search. It is the reason our clients secure properties that were never available.
Buyer advocacy by LP Advisory, Melbourne. Suburb-level detail only. Prices are indicative and shared with permission; some details withheld for privacy.
Yes. Where a brief cannot be met by advertised stock, a buyers advocate can approach owners directly through agent relationships, letterbox campaigns and door knocking, and negotiate a sale that was never planned. This Brighton purchase was sourced that way and settled at $7.2m.
It depends entirely on how specific the brief is. These clients searched for twelve months on their own without success. LP Advisory sourced the property in three weeks and secured it within four, because the search was run through owner outreach rather than listings.
Yes, but every owner has to agree at the same time and any one of them can end it. In this case four apartments were held by two owners. Both were approached and negotiated in parallel into a single deal, which took about a week.
A very specific brief is the hardest kind to fill on the open market, because the number of properties that satisfy it is small and few of them will be listed. The narrower the brief, the more the outcome depends on reaching owners who are not selling yet.
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