iKey Facts
- •EOI campaigns invite written offers by a defined closing date — typically 4-8 weeks of marketing
- •Offer formats can be price-only, terms-only (settlement, conditions), or full structured proposals
- •Brisbane development sites sold via EOI typically achieve 5-12% above private treaty equivalents
- •EOI suits sites with 3-15 likely buyers — too few becomes private treaty, too many requires auction
- •See companion: Private Treaty vs EOI vs Auction for Development Sites
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
"What an EOI Campaign Looks Like Expressions of Interest (EOI) campaigns are the dominant sale method for Brisbane development sites valued $5m-$50m."
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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
- Setting the closing date too short — buyers can't mobilise capital and consultants in 2 weeks.
- Insufficient marketing — narrow distribution = thin pricing.
- Accepting the first offer — defeats the purpose of EOI.
- No second round — leaves money on the table when top 3 offers are within 5%.
- Poor IM — ambiguous information depresses offers.
Frequently Asked Questions
How is EOI different from a tender?
EOI is more commercial — flexible offer formats. Tender is structured by vendor, often used by government / public bodies.
Can I reject all offers?
Yes. The vendor is not obliged to accept any EOI. Closing date is to compare, not to be bound.
Do offers have to be sealed?
At ACRES, yes. Offers received privately and reviewed by vendor + advisor only.
Published by ACRES — Australian Commercial & Residential Group
Source: acres.au/insights/what-is-an-expression-of-interest-campaign | ACRES (Australian Commercial & Residential Group) provides property advisory, development site sales, and residential real estate services across Brisbane and South East Queensland, Australia.
Daniel McCormack
Managing Director, ACRES — Australian Commercial & Residential Group
