Commercial agency Allard Shelton is surging ahead amidst the coronavirus climate, securing a series of strong deals since the beginning of pandemic period.

Given current market conditions and the challenges facing the real estate industry due to restrictions related to the pandemic, the agency has committed to better engaging with marketplace participants in an effort to ensure "continued service delivery to clients and customers". 

Director Michael Ryan told WILLIAMS MEDIA the approach had so far generated positive results with a strong level of enquiry and interest received for both sales and lease opportunities across multiple sectors of the market. 

“Allard Shelton has successfully sold a number of properties since the start of March with a number of deals still underway," he said.

"Whilst much of the market is plagued by a sense of uncertainty, many buyers and tenants can see the opportunity."

Allard Shelton Director Michael Ryan. Source: Allard Shelton.

His sentiments were echoed by fellow Director Joseph Walton, who said the agency had implemented a number of systems to ensure both buyers and tenants are still able to inspect properties and do their due diligence, to enable them to participate in transactions.

"The way we have had to work has changed to ensure the safety of both our staff and our clients," he said.

“We have had to employ sharper tactics in piquing the attention and interest of the marketplace.

"From creating digital property presentations to hosting webinars in an effort to showcase our current portfolio of properties to a larger audience.”

Mr Walton said some of the strategies and new skills boded well for the future. 

“On the deal front, we have found that now is a fantastic time for buyer and tenants," he said.

"In particular, tenants looking to seek opportunities post the pandemic needn’t wait as Landlords are prepared to offer generous deals to get them onboard and see them through this difficult time. 

"Tenants who sit and wait for conditions to improve may very well miss the boat on these opportunities and re-enter the market at a time when there is an influx of tenants, greater competition and less opportunity to negotiate themselves a great deal for the long term.” 

Allard Shelton Deals

Shops 27-30 & 47, 50 Dorset Square, Boronia

• Sale Price: Undisclosed

433-435 Melbourne Road, Newport. Source: Allard Shelton

433-435 Melbourne Road, Newport  

• Sale Price: Undisclosed 

1 Blantyre Avenue, Chelsea 

• Development opportunity sold Prior to EOI close for undisclosed amount.

Northern Suburban Retail Investment 

• Sale price $1.7 million
• Yield: 3.15%
• Rate Psm: $4,766 (land)
• Rate Psm: $7,724 (build)

202 Huntingdale Road, Oakleigh East 

• Sale price: $1,957,000 - 15 per cent above Vendor price expectations
• Yield: 3.07% 
• Rate Psm: $2,438 (land) 

461-463 Albion Street, Brunswick. Source: Allard Shelton

461-463 Albion Street, Brunswick

• Sale price: $2,715,000
• Rate Psm: $2,166 (land)

T5, 92-106 Greville St, Prahran 

• Sale price: $630,000.
• Yield: 4.1%
• Rate Psm: $12,883 (build)

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