29 x Apartments, Redfern, NSW
134 Redfern Street
Project Realisation: $8m+
Sale Process: Project Marketing
CMF Appointment: Sales & Marketing Agent
134 Redfern Street was CMF’s first foray into Project Marketing. This 29 x 1 bedroom refurbished apartment building included the sale of a number of tenanted apartments and a number of vacant possession apartments.
A prominent, branded agency tasked with the Project Marketing had sold only one unit in 12 months since their appointment. CMF was then instructed to sell down the remaining units. In 12 months, in the worst market in our life-time (mid 2008-mid 2009) CMF sold the remaining 29 apartments.
The bulk of the interest was from owner-occupiers keen for a budget location close to Sydney’s CBD. Given the nature of the buyer profile all marketing was conducted via the internet only. By only using this very cost effective method of marketing the owner was spared the high priced marketing campaigns of branded agencies which effectively promote the agency and not always necessarily the property being sold.