Regatta at Collins Wharf sold through two-thirds of the residences in 7 months.
The Challenge
Situated on a prime piece of real estate, where Melbourne's waterfront meets the iconic Collins Street, Collins Wharf is made up of a series of residential towers. With six towers planned for the dual-waterfront site, developer Lendlease needed to hit key sales targets for each tower before releasing the next.
Regatta is the second of the six towers, home to 317 individual residences — a mix of 1, 2, and 3 bedroom homes, alongside a premium offering of townhouses and apartments within the tower with prices starting at $2.3m for a Premier Skyhome. With four more towers to come, Lendlease needed to sell through Regatta quickly and efficiently before construction began and before the public launch of tower three (Ancora).
Our Solution
Gain buyer trust through content breadth.
In a competitive Australian market, Lendlease needed to drive interest in Regatta while thinking ahead to the release of the remaining four towers.
Colliers were brought in as the sales team for the development. It was critical for them to have access to a wide range of content to tell a complete story about the development, its architecture, its location, and its lifestyle.
To illustrate this complete story, location imagery and aerial maps with local amenities were compiled, giving a sense of the local area. Still renders and videos were created of the tower, including renders of numerous apartments and many of the building amenities, alongside the usual floor plans and floor plates. Lastly, The Boundary created eight real-time Virtual Tours representing different apartment typologies. The tours allow potential buyers to immersively "walk" through the unbuilt space, changing color schemes, accurately measuring the space available, and, above all, gaining a true appreciation for how the space feels.
The entirety of Regatta's digital content was housed in Realspace to weave a seamless narrative while talking to buyers. The platform allows them to seamlessly navigate between varied content types, moving from 2D floor plans into real-time Virtual Tours and back again with ease. This allows them to keep the conversation flowing without needing to pause and locate the next piece of content to move the narrative forward.
Utilizing Realspace as a single source of truth, Lendlease put a wide variety of content spanning numerous file and format types in the hands of the Colliers sales agents. With the content accessible from a central hub (Realspace), agents could seamlessly access everything they needed to tell a complete story, all from one place.
Display immersively within the custom-built display suite.
The two-story on-site display suite is the key to Regatta's sales strategy and integral to the future Collins Wharf towers. The suite is set up to demonstrate the level of quality buyers can expect while providing an elevated space for sales conversations. Within the suite, a 98" display screen can be used to walk clients through the visual media housed within Realspace — from local amenities, right through to real-time Virtual Tours of specific apartment typologies.
Operated by the sales agent using an iPad tablet, buyers can experience the unbuilt space, explore the Virtual Tours, see different view lines, and dig into the details of the building. What appears on the screen in front of the clients is clean and uncluttered, keeping the focus on the content and the building. Meanwhile, the remote tablet provides pricing and availability alongside unit information for the sales agent, giving them everything they need to answer their clients' questions and keep the narrative moving forward.
A platform made for storytelling.
With a vast quantity and variety of marketing content created for Regatta, it was imperative that it be structured to enhance the sales conversation. The layout and accessibility of the content were key to ensuring that every important aspect was covered without agents having to stop and search for the right piece of content.
The Realspace interface is specifically built for unbuilt real estate sales. An interactive exterior render of Regatta allows agents to click on the building and select a floor level to access the floor plate. From here, they can navigate up or down levels or select a specific apartment, revealing details specific to that residence—bedrooms, bathrooms, floor area, apartment type, and floor plan. Once a residence is selected, a single click opens the real-time Virtual Tour for immersive exploration.
Realspace is engineered to facilitate these conversations, connecting content types without the need to continually return to a home screen or gallery to search for the next element of the narrative.
Highlighting the dual-waterfront location.
Regatta and the other Collins Wharf towers occupy an enviable position. Their dual waterfront location takes in Victoria Harbour and Melbourne City to the North and looks out over the Yarra River towards Hobsons Bay to the South.
The outstanding views are unique to the Collins Wharf towers and are a key selling point. Buyers want to know precisely what view each apartment will have. Once information is brought up for a specific apartment, agents can also quickly reveal accurate view lines for that apartment with one click.
Immediate access to this information while exploring the apartments within the building helps paint a complete picture for clients, enabling them to make more confident purchasing decisions.
Regatta sales a resounding success
From the off-market launch in March 2023, Colliers sales agents sold through two-thirds of the Regatta residences in 7 months. The sell-down rate is considered a massive success for both Lendlease and Colliers. The progression to 80% sold before the public release of Ancora — the third tower on Collins Wharf — puts Lendlease in an enviable position.
With Ancora also utilizing Realspace to house an even greater variety of content, Lendlease is leading the way in the Australian property market, setting new standards that buyers are coming to expect as they navigate the unbuilt property market.
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