What Is an Expression of Interest Campaign?

What an EOI Campaign Looks Like

Expressions of Interest (EOI) campaigns are the dominant sale method for Brisbane development sites valued $5m-$50m. They sit between fully-private treaty (one buyer) and public auction (many buyers, single moment).

The structure:
- 4-8 week defined campaign window
- Targeted marketing to qualified developers (typically 30-150)
- Information memorandum (IM) issued under NDA
- Site inspections by appointment
- Closing date for written EOIs
- Vendor reviews offers, may invite shortlist to second round

Buyers submit offers in writing. The vendor and advisor review offers across price, settlement, conditions, deposit, and developer track record. The "best" offer is rarely the highest price — it's the highest risk-adjusted certainty of completion.

When EOI Works Best

EOI suits Brisbane sites where:
- 3-15 developers would credibly compete
- Price discovery is uncertain (no recent comparables)
- Conditions matter as much as price (e.g. long settlement, vendor leasebacks)
- Confidentiality is preferred (no signboards, no public auction)
- Site complexity benefits from time and structured information

EOI does not work well when only one or two buyers exist (better to negotiate privately) or when there are 20+ aggressive buyers and price-only competition is desired (auction can extract more).

Marketing the EOI Campaign

A Brisbane EOI is marketed via:
- ACRES proprietary developer database (typically 30-150 targeted contacts)
- Industry network referrals
- Selective property publications (Property Observer, Australian Property Journal)
- Direct outreach to interstate / institutional buyers

Public-facing marketing (signs, listings) is usually avoided to preserve confidentiality and avoid signalling to neighbours, tenants, or the broader market.

What a Strong EOI Looks Like

The best EOIs contain:
- Headline price
- Settlement terms (cash, deferred, leaseback)
- Deposit amount (5%, 10%, larger)
- Conditions (DD period, finance, planning approval)
- Track record (prior projects, key personnel)
- Funding evidence (term sheet, equity letter)

A vendor seeing an EOI without funding evidence or with vague conditions should be cautious.

Pricing Outcomes

Brisbane data over the last 5 years across ACRES and visible market transactions:

• Private treaty: 92-95% of vendor expectation
• EOI: 100-110% of vendor expectation
• Auction (well-attended): 95-115% of vendor expectation, but high variance

EOI delivers the most predictable upside without the binary risk of auction.

Common Mistakes

1. Setting the closing date too short — buyers can't mobilise capital and consultants in 2 weeks.
2. Insufficient marketing — narrow distribution = thin pricing.
3. Accepting the first offer — defeats the purpose of EOI.
4. No second round — leaves money on the table when top 3 offers are within 5%.
5. Poor IM — ambiguous information depresses offers.