For Marquee Projects CEO, Mark Spedding this is a big win for the company he started in early 2014. “Winning this award is a fantastic achievement for Marquee Projects and for our client HCAP Developments. The exceptional sales results demonstrate the value of a well-designed building with a perfect marketing strategy that captured prestige owner occupiers, first home buyers and investors.”
The name of the development played an important part in the marketing of the project. “The development was named Haven as we have created an inner city urban sanctuary on an island site with premium amenity within the building for residents. We also partnered early with John James of James St fame in creating unique retail and marketing to attract the James Street clients and brand to Newstead.” Said Mr Spedding
Haven’s combination of multiple product types of one and two bedroom apartments and three and four bedroom luxury penthouses came with a large price range of $370,000 to $3.3 million and this encouraged the marketing strategy to go beyond the traditional channels.
“We had a challenge of having to generate 25% of the building for $750k to $3.5million plus owner occupier sales, as well as investor and first home buyer sales in the lower levels so an innovative marketing campaign was executed to hit these targets.” Said Mr Spedding. Haven has bucked the trend that many 200+ apartment projects have failed to attract owner occupiers beyond 2-3 larger apartments on the top level.
To differentiate the different product types Marquee Projects created two unique brand identities for the one project.
For the lower level retail campaign an intrigue strategy, similar to what Apple creates when launching a new store location. “The high profile location was leveraged with onsite hoarding directing enquiry to the website along with supporting discreet media including digital, PR and subtle social media to build hype and desire. We received a massive amount of enquiry and achieved sell-out of the lower level apartments in just 6 weeks after the public launch.” Mary Graham said, Marquee’s Marketing Manager.
Market intelligence conducted by Deloitte identified that there was a gap in the market for downsizing empty nesters looking to purchase in the $1M – $3M price range. This proved accurate with buyers of over $40 Million worth of upper level apartments typically in their late 50’s and 60’s, currently living within a multi-storey family home within a 5km radius of Haven.
For the 4 upper levels, a new brand was created that focused on the exclusivity of the product and the lifestyle that residents would have living at Haven. The Haven Penthouse Collection was launched in July 2015 via multiple small VIP launch events at the onsite sales display on Skyring Terrace, Newstead. “The sales display was created like a home without the traditional sales track, filled with local artists work including Michael Zavros plus a full size kitchen and ensuite bathroom.” Ms Graham said.
For many of the empty nesters it will be their first time living in an apartment which for some raised concerns “Many of the buyers didn’t want to compromise on space, storage or comfort because they are downsizing.” Said Ms Graham “As part of the marketing strategy we brought Patricia Szonert in from MMO Interiors prior to launching the penthouse apartments to refine the floorplans to ensure that the penthouses had all the aspects that you associate with a house – walls for artwork, privacy and space. She worked with buyers throughout the sale process and has customised the apartments to their requirements.”
Targeting downsizing empty nesters for the 3 and 4 bedroom product and young professionals for the 2 bedroom product, a media strategy was executed with a heavy focus of digital media strategy including social media, SEO, SEM, facebook, instagram and display advertising for the younger demographic and the traditional channels of the print and press for the empty nesters with supporting PR, Direct Mail, database marketing, events and direct mail throughout the campaign.
One of the big risks that was taken was appointing a residential sales agent who had limited project marketing experience. Said Ms Graham “We appointed Simon Caulfield and Judy Goodger of Place Estate Agents New Farm to sell the upper level product which we were nervous about. We leveraged Simon and Judy’s known presence in selling prestige homes to comfort many owner occupiers that were hesitant to make the move and we promoted the property within the established property section of the Press channels to differentiate. Many of the buyers have long established relationships with Simon and Judy and for the buyers working with 1 agent to buy at Haven and then sell their home has made the buying experience so much easier and overcame objections.”
“Digital has played a huge part in success of the entire campaign as it generated 87% of leads and has significantly outperformed the traditional channels of press. In particular Facebook was the lowest cost per lead and we achieved a number of sales through this medium.” Said Ms Graham
The Haven Penthouse Collection was launched in July 2015 and by October 2015 80 percent of the penthouses had sold with sellout achieved by January 2016. Three buyers purchased adjoining three bedroom apartments and converted them into a five bedroom and 3.5 bathroom super penthouse with four side by side carparks.
Said Steve Howell, CEO HCAP Developments, the developer of Haven ‘To achieve a sellout rate of the premium owner occupier apartments in 6 months when competing against Highgate, Southpoint and Pier, I’m confident to say that Haven was the number 1 project for premium owner occupier apartments in 2015.”