the facts

423
smith street

FITZROY

Leased 423 Smith Street Fitzroy TCI - An in depth look behind the scenes of the campaign. We'll explain the pros, the cons, the challenges and the reveal!

THE PROS

Property is renovated to the highest level available on market
Entire property is used for flexible office leasing – not a floor or two i.e. this is a dedicated build
Flexible leasing terms
Incentives provided for longer term leases
Fully furnished office suites
No traditional office outgoings or maintenance payable
State of the art meeting rooms, boardrooms and training facilities
On site licensed cafe
Gym, wellness studio and parent’s room

THE CONS

Rent in comparison to traditional office market on a rate per m²
Meeting rooms, boardrooms, telephone booths are shared – hence a requirement to book in advance and with an additional cost
Limited parking on site at an additional cost
Office market in general was weak
Property is currently under construction with an additional 5 storeys of flexible offices being built
Property has been advertised for lease with multiple groups, creating a mixed message to the market, as well as a discrepancy in the quality of the marketing and leasing agents involved

The Facts Lease 423 Smith Street Fitzroy Real Estate Fitzroy Office Commercial Real Estate TCI

Lease 423 Smith Street Fitzroy Office Commercial Real Estate TCI united co. co

THE CHALLENGES

The ongoing construction and associated noise was mitigated, by the leasing incentives being offered
Given the mixed messaging, we decided to refrain from calling the building United Co. or market it as co share offices, as it has been previously – the marketing was centered around 423 Smith Street and private offices
To highlight the differentiation above, new photography was used as well as an upgraded internet listing
We also tried to highlight the flexible leasing model as an alternative to suit the current market, with a general hesitation on the office market

THE REVEAL

This is an ongoing campaign, the listing campaign remains as tenants come and go
The marketing achieved the desired results – a number of leases were effected, while bringing in multiples of enquiries and inspections
This campaign is monitored and adjusted regularly
In the first 60 days, the campaign received 5,266 hits, compared to the market average of 809 i.e. 6.5 times higher

the facts

MARKET AVERAGE LISTING

0

k

HITS

RESULT

0

k

HITS

difference

0

x

higher

Campaign performance

thousand

VIEWS
ENGAGEMENTS

SAVE & SHARE
ENQUIRIES

market average

RESULT

the facts

423
smith street

FITZROY

THE PROS

THE CONS

THE CHALLENGES

THE REVEAL

the facts

MARKET AVERAGE LISTING

HITS

HITS

higher

Campaign performance

thousand

thousand

VIEWS
ENGAGEMENTS

SAVE & SHARE
ENQUIRIES

market average

423 Smith Street

423 Smith Street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

Contact

Address

Phone

Email

Menu

Social

the facts

423smith street

FITZROY

THE PROS

THE CONS

THE CHALLENGES

THE REVEAL

the facts

MARKET AVERAGE LISTING

HITS

HITS

higher

Campaign performance

thousand

thousand

VIEWSENGAGEMENTS

SAVE & SHAREENQUIRIES

market average

423 Smith Street

423 Smith Street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

leased 423 smith street

Contact

Address

Phone

Email

Menu

Social

423
smith street

VIEWS
ENGAGEMENTS

SAVE & SHARE
ENQUIRIES