How does your usual day look?
Busy. Normal start prior to 8am… and sadly, I usually check my emails around 5am! Most planning is done well in advance of the day kicking off, with as much organisation sorted in anticipation of the phone ringing from around 8am onwards. My day is then a mix of meetings, telephone calls and email correspondence either chasing the next deal or working miracles within our property management department.
How did you start your career in commercial real estate?
I completed a Bachelor of Applied Science (Property Economics) and was lucky enough to be introduced to the Ray White Commercial Group by a family friend, Rod Crawley, who was the Principal of five Ray White Franchises in the Redlands Area. Under the tutelage of a leading commercial agent, Michael Keddy, and with Redland City undergoing extraordinary growth, my career took off and in 2004, I became an equity partner in Ray White Commercial Bayside. In 2017, I became the sole proprietor of the business.
What do you enjoy most about working at Ray White Commercial? What makes Ray White Commercial different?
Ray White Commercial is a grouping of generally like-minded people. Those team members who have been a part of the group for an extended period recognise the benefits of strong working relationships and playing to our individual strengths. It's a less hierarchical group than some other brands, where hard work and persistence are rewarded, and the sky can really be the limit.
What are your go-to property marketing methods that you present to your clients?
We tailor our approach to the individual property. Realistically, no two are exactly the same, and the vendor/landlord may have specific requirements or timelines to meet. We are big believers in signage and digital marketing, and we hold an enviable market share in our core trade areas.
Tell me about a unique success story?
96 Redland Bay Road, Capalaba
400m2 air conditioned showroom building on an 809m2 allotment in the centre of Capalaba. Part of a deceased estate (two families), the property needed to be sold in a timely, and transparent manner.
We advised the sellers to consider an auction program. The property was extremely well-positioned in Capalaba, suited investors and owner-occupiers and the vendor had a reasonable expectation in terms of price, and settlement timeframes.
We recorded approximately 30 enquiries, conducted more than 20 inspections and had 11 registered bidders on the day.
Following a slow start, the auction really wound up when an adjoining owner and a potential owner-occupier started a two-way battle to acquire the site. After a 20 minute auction, the property sold for more than $2M, which was well over the reserve.
The under bidder ended up taking a lease over the property, using us as the agent, and we’ve been appointed to manage the site on behalf of the owner.
Do you auction?
Yes, but we are very selective regarding which properties we recommend for auction. In my opinion, the property must be one that will be competitively sought, is free from encumbrances and other issues that may complicate the process, and where the vendor is comfortable with the ‘auction day’ decision-making process.
What’s the one thing you know now, that you wish you knew when you first started out?
Everything! Never stop learning… talk to people in all walks of life, and all forms of business. There are so many different drivers in our markets, we need to gather as much information from as many informed sources as possible. Our advice, based on this intel, is what people rely on, and why we remain relevant and get paid.
What is your outlook for the Bayside of Brisbane over the next 12 months?
We deal with industrial, retail and commercial office property across the Bayside region. It's a strong core trade area with limited opportunities for new stock to enter the market. Currently, investment grade stock is the ‘flavour of the month’ with well leased, passive stock attracting significant interest from investors looking at a steady cash flow, and a rate of return well above that being achieved in many term deposits and superannuation funds. We see this continuing to intensify, with limited supply leading to greater competition and price growth.
Nathan Moore - Director
+61 413 879 428
+61 (7) 3245 7199
nathan.moore@raywhite.com
