Central Park - Quality a key to success
Colliers International Project Marketing have an impressive track record of successfully delivering mixed-use masterplan projects throughout Sydney. One landmark project in particular, has seen consistent success through various property cycles and is currently going through the final stage of settlement.
Central Park by Frasers Property Australia and Sekisui House Australia is a multi-stage $2 billion urban village, a landmark mixed-use community in Chippendale with a diverse collection of residential offerings of over 2,200 apartments in total, with the first stage released in 2010. Designed by a collaboration of world-leading architects in Sydney, London, Paris and Copenhagen, Central Park has become an architectural icon and a destination known for its quality, in the heart of Sydney’s downtown precinct.
In 2016, following a competitive pitch process, Colliers International were appointed by Frasers Property, to market and sell market and sell their final release, Wonderland. The challenge of the campaign was to revive the story of a masterplan project which had already been on the market for 6 years - the focus was on the quality of the amenity and location of the project supported by the strength of the developer brand.
In what was one of the most unique, creative and memorable project marketing campaigns seen to date, the Wonderland campaign achieved cut through in a competitive the market, appealing to a wide range of buyer types from first home buyers, high net worth individuals, savvy investors and foreign buyers. Purchasers saw incredible value in the product and amenity offering in Wonderland, which includes concierge, gymnasium, residents' lounge and communal rooftop offering BBQ facilities and views over Chippendale, along with the shopping and retail village of Central Park Mall.
Blake Schulze, Director, Colliers International says, “The success of Wonderland was a result of a creative marketing campaign which achieved cut through in a competitive marketplace. The marketing messaging constantly and a calendar of events and activation's were held onsite utilising the existing purchaser and enquiry databases.”
The Frasers Property Australia's Prosperity Loyalty Program (Prosperity) was a key element of the sales strategy, Blake Schulze says, “The Prosperity Program created a platform with strong ambassadors who had purchased from the developer previously.”
Due to Frasers Property’s strong and impressive global track record, purchasers were drawn to the consistent quality of design and construction that Frasers Property are renowned for. “The reputation of the developer, architects, builder and marketing agents are more important than ever, people are doing extensive research into the reputation of the development team before making any decisions on purchasing,” Schulze explains.
Following the success of selling the Wonderland launch, Colliers International were then appointed as selling agents for remaining 90 apartments in DUO, the apartment release prior to Wonderland.
In today’s property climate it’s inevitable that the challenges for all new developments is further compounded by the lack of confidence in the market among potential homebuyers. Buyers are cautious to commit, and a watertight assurance of quality will be central in helping to overcome buyer resistance and caution.
Homebuyers and investors want to see a successful track record of property developments that’s clearly demonstrated by the entire project team. There’s no shortage of clear evidence that local property markets have changed and a flight to quality is now a central part of market dynamics.