Garage / Development Land — Sale
Stretton Garage
Stretton
The owner of Stretton Garage had a clear objective: sell the site quickly and achieve at least £200,000 — the figure he needed to satisfy his investment objectives. He was not looking for a drawn-out process. He needed a fast sale at a realistic price. A garage site with development potential, an owner with a clear number in mind, and a desire for speed. The question was whether £200,000 was the right number, or whether the market would bear significantly more.
The issue with instructions like this is that owners often anchor to a figure they have decided they need rather than a figure the market evidence supports. An agent who accepts that anchor at face value will achieve the owner's target — but may leave significant value on the table. The owner's target of £200,000 was based on his investment objectives, not on what the market would pay for the site. Those are different things. The question Steve asked was not 'how do we achieve £200,000' but 'what is this site actually worth, and who would pay it?'
The strategy was built around an honest assessment of what the site could achieve rather than acceptance of the owner's initial figure. Steve's view, based on the site's development potential and the profile of likely buyers, was that £400,000 was achievable within the fast timescale the owner wanted. That is a harder conversation than agreeing with a client's number. But it is the right conversation — and the one most agents avoid. The marketing targeted buyers who would recognise the development potential specifically, not just the general market.
Within two weeks of going to market, Steve had secured an offer of £425,000. Contracts were exchanged. The sale completed. The owner's original target was £200,000. The final sale price was £425,000. The difference between what the owner thought the site was worth and what the market actually paid was £225,000. That gap exists on more commercial instructions than most owners realise — it exists because agents accept the owner's number rather than doing the work to establish the right one.
Our gains on the sale of Stretton Garage exceeded our best expectations by over 200%. Our initial expectations were to achieve £200,000, and we were seeking a quick sale. Steve assured us that £400,000 was achievable within a 3–4 week timescale. Within two weeks Steve had secured an offer of £425,000 — contracts were exchanged and the sale completed.Mr Olusola — Stretton Garage
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