Not your typical transaction

Selling an entire building isn’t like selling a house or even six separate units. It’s not about Sunday opens or styling the living room.

It’s about the numbers – and the people behind them.

‘These buyers are business-minded,’ says Daniel. ‘They want to see facts, figures and potential. And they expect the agent to speak their language.’

‘It’s less emotional, more transactional,’ adds Matthew. ‘Buyers are focused on yield, value-add opportunities and long-term strategy. Which means you need to know how to present a building like a business.’

That’s what makes Daniel and Matthew so specialised. They live and breathe this category.

‘It’s a niche market,’ Matthew says. ‘We generally see the same buyer pool week in, week out.’

‘We’re careful not to waste that network,’ Daniel continues. ‘So, when someone enquires about one building, Matthew and I will present them with another five.

‘They trust us to bring them quality stock.’

 

 

Smart selling from seasoned hands

Blocks of apartments often come with stories that span decades. Many vendors are long-term holders, like families or trusts, who’ve owned the building for 30, 40 years – sometimes longer.

‘These are generational assets,’ Matthew explains. ‘We meet owners who actually built the block themselves. These are the sort of people who look at the sale as more of a passing of the torch.’

‘People aren’t selling because they’re struggling financially,’ Daniel clarifies. ‘In fact, most of these buildings haven’t even got a mortgage.

‘They’re selling because they’re ready to hand it over to someone with the time and energy to maximise it.’

Why serious buyers go all in

Buyers don’t just love blocks of apartments for the returns. They love them for the autonomy.

‘When you buy a full block, you become the owners’ corporation,’ Matthew explains. ‘You make every decision. You control every improvement. And you avoid the drama that can come with managing multiple owners.’

‘It’s a better investment on almost every front,’ he adds. ‘From a rental yield perspective, you’re not dealing with multiple strata fees – it’s one property, one plan.’

And then there’s the land.

‘With a full block, you’re buying the dirt,’ says Daniel. ‘And that land often holds more value than the building sitting on it. Whether it’s future development, subdivision or just a solid landbank, the upside is real.’

And their buyers know it.

‘When people who are in-the-know about blocks stand in front of a whole building that’s big and presents well, I can always see a little glimmer in their eye,’ Daniel shares. ‘I think that’s what drives them to act.’
 

 

The once-niche market with major momentum

Block investments were once a quiet corner of the market. But that’s changed in recent years – especially with the rise of interstate investors.

‘We’re seeing more Sydney, Brisbane and even Perth buyers than ever before,’ says Matthew. ‘They look at Melbourne and see value. A lot of our buildings would cost double if they were in Bondi.’

‘They buy one, love the returns, and come back for a second,’ adds Daniel. ‘In just two weeks, we sold three blocks – all to interstate buyers. That momentum is only growing.’

Not too long ago, that wasn’t necessarily the case.

‘It’s funny, after COVID, when interest rates and land tax skyrocketed, selling blocks of apartments became a real challenge,’ Daniel recalls. ‘We’d make a sale, and just a few months later we’d look back and think, gee, that actually seems pretty cheap.’

‘And now,’ Matthew adds, ‘it won’t be long before buyers are saying, I wish we’d jumped in back then.’

A foundation for future generations

There’s something timeless about blocks of apartments. They’re solid, dependable and consistently in demand.

‘Think about what someone paid for a block back in the 80s and 90s,’ says Daniel. ‘Now think about what it’s worth today. The growth has been enormous.’

And that’s not slowing down.

‘These buildings are still standing strong,’ Matthew notes. ‘They’ve weathered interest rate hikes, rental reforms and even the pandemic. They’re built to last – and they still generate impressive returns.’

Many buyers hold them for future generations.

‘I’ve had clients tell me they’re buying now so their kids can inherit later,’ Daniel shares. ‘They see it as a long-term wealth strategy – and they’re right.’

 

 

Getting it done, right

Selling a block is part science, part strategy – but mainly experience. That’s where the Gary Peer difference really shows.

‘Between Daniel and me, we have 60 years’ experience,’ says Matthew. ‘We never run a one-size-fits-all campaign. We tailor everything – from timing and method to marketing and buyer outreach.’

That’s why an auction is often the preferred approach.

‘Auctions create urgency,’ Daniel explains. ‘Our buyer pool overlaps, and they see each other week after week. When one is bidding, the others take notice.’

And the inspections aren’t on weekends. They’re midweek. Discreet and targeted.

‘We know the buyer profile,’ says Daniel. ‘They’re businesspeople; they don’t need a sausage sizzle to show up.’

And the data speaks for itself.

‘We’ve sold more than 150 blocks. No other agency comes close,’ Matthew says. ‘And when vendors see that, they know they’re in safe hands.’

Keeping it in the family

For many buyers, the relationship doesn’t end when the contract is signed. In fact, it often deepens.

‘A lot of our block buyers hand the keys straight over to our property management team,’ says Matthew. ‘Gary Peer manages hundreds of apartments already, so we know exactly how to keep things compliant and profitable.’

That continuity is part of the Gary Peer advantage.

‘Because we’ve sold the building, we know the asset inside and out,’ Daniel explains. ‘We can advise on improvements, manage tenants, even recommend contractors to boost returns.’

‘It’s a true full-service offering,’ adds Matthew. ‘Sales, management, advice – all under one roof.

‘And because of that, we build relationships that last years.’

 

 

Thinking of selling your block of apartments – or purchasing one? Request an appraisal or browse our recent block listings today.