RT Edgar | Submission - 250 Albert Street, East Melbourne

Sales & Marketing Submission 250 Albert Street, East Melbourne | Prepared for Lauren Catalano, Sam Chait, Tim Hannah and David Bills

Contents 4. Welcome + Market Wrap 6. Your Property Specialists 12. Design Comments +

Buyer Demographic 14. Prior Experience in sector

and location 18. Comparable Projects For Sale 22. Proposed Pricing Schedules 26. Why RT Edgar 28. Advertising Schedules 30. Engagement Strategies 34. Proposed Commission +

Forecasted Sales 35. Car Park Allocation + Summary 2

Issue 8

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Welcome

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Welcome + Market Wrap Dear Lauren, Sam, Tim and David, Thank you for the opportunity to submit our proposed marketing and sale strategy. RT Edgar are market leaders in Melbourne and have extensive experience in off the plane sale of properties. Especially Sarah having started her career at Mirvac in the late 1990’s.

At RT Edgar, we believe our extensive research, innovative use of technology and mix of new and thoroughly experienced professionals underpins our market leadership in Melbourne’s premium and prestige suburbs.

This leaves us uniquely placed to attract strong buyer interest and conduct a successful sales process that not only fulfils expectations, but also exceeds them. We have a superb record breaking track record not only in East Melbourne, but across the top suburbs in the City of Melbourne and City of Stonnington. Our proposal will cover our exceptional track record in East Melbourne.

The property market is currently the strongest it has ever been as a result of Government grants and low interest rates. 2021 has seen buyer interest in prestige property flourish regardless of the events last year, with the Autumn sales season achieving some of the highest real estate results to date.

A huge advantage of selling off the plan for buyers is the ability to lock away today’s prices and secure a premium property for the future – whether the buyer is an owner occupier or investor. Selling these off the plan homes has not been affected by the current pandemic. Quality off the plan properties are not just selling, they are selling well and achieving great prices.

Our current project at 341 George St (McLaren & Co) was advertised only for 48 hours and we successfully put on hold 12 within this period, with 70% now already sold and we have fielded over 500 genuine enquiries since the first week of August.

There is a clear appetite for premium residences, located in a prime position which is something 250 Albert Street possesses. This leaves us uniquely placed to attract strong buyer interest and conduct a campaign that maximises your sales result.

With an emphasis on professionalism and personal integrity, RT Edgar continues to offer the same premium service first committed to by its founder more than 125 years ago, helping their client’s properties make the best first impression, for the right buyers, to deliver the ultimate result.

We believe we are the best team to work with you, and with our prestigious brand and your project together, it will elevate the residences in order to achieve your goals. We look forward to working with you to ensure the best result for your project.

Regards, Sarah Case, Jeremy Fox and Rachael Fabbro

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Your Property Specialists

Sarah Case Director 6

With over 20 years of real estate experience, Sarah has been involved in the sale of some of Melbourne’s most prestigious homes. Her exceptional local knowledge of properties and the market, together with her finely tuned negotiating skills and open, engaging manner, establish Sarah as one of the city’s foremost sales agents.

This success has translated into frequent repeat business and referrals from appreciative vendors and grateful buyers who welcome her work ethic, diligence, open communication style and warm, outgoing nature. Her extensive background in off-the-plan sales, also makes her a valuable source of knowledge and guidance in marketing and selling new residential developments, and enjoys an enviable track-record of success in this field.

Above all, Sarah is committed to making the sales and marketing process as smooth and enjoyable as possible – building trusted relationships with both vendor and buyer along the way, and ensuring the best possible outcomes for clients.

Sarah will be the focal point and managing agent of the campaign. However, you don’t just get Sarah Case for the sales campaign. There is a systems and process driven administration team that support the campaign from when your home is listed, right through to settlement. Throughout the selling campaign, you also gain the services of one of Stonnington’s best teams in the RT Edgar Toorak sales team, in addition to the entire RT Edgar network Victoria wide.

Sales Overview in the last 12 months Highest Sale Price $25,000,000 Average Sale Price $8,125,805 See what our sellers and buyers had to say about Sarah

Rate My Agent Reviews

Key Achievements Our office has successfully achieved the highest sales in the local area in the last 12 months including: 911/280 Albert Street, East Melbourne (Sold for $9,500,000) 24-28 George Street, East Melbourne (Sold for $10,350,000) 130-134 George Street, East Melbourne (Sold for $7,300,000)

0439 431 020 scase@rtedgar.com.au 10 Wallace Avenue, Toorak rtedgar.com

VIEW RECENT SALES

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Your Property Specialists

Jeremy Fox Managing Director 8

With an uninterrupted career spanning almost forty years, Jeremy’s marketing, auctioning and facilitation of the sale of thousands of Melbourne’s finest homes throughout Toorak, Armadale, South Yarra, Malvern, Hawthorn and Kew areas is unparalleled.

Driven by a philosophy that successful selling requires a strong connection to the community, the best possible presentation, an eye for detail, the ability to correctly target a property to the right buyer as well as the experience to bring it all together, Jeremy produces consistently outstanding results.

Jeremy’s communication and listening skills mean he is a strong negotiator who knows how to achieve the best possible outcome for vendors and buyers alike.

An industry influencer, Jeremy’s insight and expertise are frequently sought by the business and media sectors.

Underpinning everything and integral to Jeremy’s success is a dedication to teamwork, confidentiality, integrity and a desire to deliver for his vendors.

Sales Overview in the last 12 months Highest Sale Price $18,200,000

See what our sellers and buyers had to say about Jeremy

0418 339 650 jfox@rtedgar.com.au 10 Wallace Avenue, Toorak rtedgar.com

TESTIMONIALS

VIEW RECENT SALES

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Your Property Specialists

Rachael Fabbro Licensed Estate Agent 10

Over more than two decades, Rachael has built an outstanding career as a real estate professional. She has broad industry experience, encompassing successful roles in sales, property development, commercial and residential property management, project and contract management and procurement. She has also been a business owner in her own right.

Rachael’s qualifications include a Bachelor of Behavioural Science, majoring in Psychology, as well as a Certificate IV in Property Services. She also holds residential and commercial property management certifications. She has worked with RT Edgar Boroondara since 2016, and now joins the Toorak team as part of our senior sales staff, focussing on residential sales in the Stonnington and Boroondara areas.

Growing up, Rachael’s family relocated many times within Australia and overseas, so she has lived in a lot of houses and has developed a life-long love of interior design. When she was just 20 years old, she decided to build her own house. She has since gone on to renovate and build a number of properties, and in doing so, she has built her own property investment portfolio.

Rachael attributes her success to having an absolute passion for people and property and a desire to achieve the best market prices for her clients. Her capacity for hard work is limitless, and she has what she describes as “grit”. She is determined, resilient and adaptable, but she is also empathetic and genuinely cares for her clients. Her sales career highlights are too many to mention but she is rightly proud of the continued trust her clients have placed in her over many years, which is a real testament to her integrity, professionalism and honesty. She is also very proud of her work as a mentor and role model for other agents, in particular those new to the industry.

Sales Overview in the last 12 months Highest Sale Price $8,200,000 See what our sellers and buyers had to say about Rachael

0412 547 690 rfabbro@rtedgar.com.au 10 Wallace Avenue, Toorak rtedgar.com

TESTIMONIALS

VIEW RECENT SALES

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NotableComments Design Sales of 2020 There is definitely an abundance of appeal when it comes to the design of the floor plans, shapes, sizes and finishes of The Mansion, The Terrace and The Apartments.

The Mansion + The Terrace In our opinion, these bespoke homes are 100% on point for the brief of Melbourne’s astute buyers. We can easily see a Collins Street lawyer, financial brokers, CEOs and our top end buyers strongly considering and taking a very close look at these two truly bespoke residences. The artist impressions have hit the mark and are truly outstanding.

The Apartments There is a neutral tone throughout to appeal to the majority which we understand. Being more of a truly boutique development, we believe you could take a few more risks when it comes to the colour palate. The neutral colour is safe, but due to the limited numbers (especially if we are going to combine a few more levels), you could potentially be more adventurous when working with the colour palate. There is an opportunity to add some of the fabulous colours of The Mansion and The Terrace to add to the individual value and appeal. This would allow these apartments to look striking in appearance and stand out from other apartments on the market, without going over the top, yet staying true to the colour scheme used in The Mansion and The Terrace.

From our experience selling off the plan, the buyers do want a choice in colour, either Light or Dark or Warm or Cool. For example, In Fitzroy, which we know is not as premium as the East Melbourne project, we have kept the bathrooms all the same throughout but offered a Warm or Cool Tone for the Kitchen (which was only the underside of the bench and 4 feature top cupboards) and just the colour of robes in the bedrooms. The feedback has been fantastic and the buyers feel that they have been involved in part of the decision-making process.

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Buyer Demographic

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Buyer Demographic The designs are all unique across The Mansion, The Terrace and the apartments.

A brilliant offering are the park views from level 3 up – something not often found with apartment complexes. This is a huge win for the buyer and will allow us as the agents to sell the lifestyle and location in a timely manner.

The modern lifestyle of wanting to live “inner city” and for “low maintenance” accommodation combined with population growth continues to provide strong buyer demand for good quality apartment living. The surrounding areas cosmopolitan attractions, good public transport and proximity to the CBD have great appeal right across all demographics.

The primary target audience is purchasers from the surrounding Eastern & South Eastern suburbs looking to downsize from the large family home, often to spend more time at a rural or coastal home or for lifestyle choice mentioned above.

Other buying groups we may expect to find although unlikely are investors looking for a well- located quality investment with a good yield and good depreciation benefits or young professionals wanting to purchase a high quality low maintenance home with great easy access to the local amenities, transport and the city at your doorstep.

The buyer possibilities for this property are endless.

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Notable Prior RT Sales Edgarof experience 2020 in the sector and location

Below is the sales grid of a recent RT Edgar p RT Edgar took over this project from another agent due to the lack o and achived the highest s

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project at 28 Powlett Street, East Melbourne of sales within 8 weeks we had sold out the remaining 7 apartments sqm rates in the building.

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Notable Prior experience Sales of in 2020 the sector and location RT Edgar have a number of completed projects under our belt.

Stretching across Melbourne, we know how to sell off the plan, create a vision for buyers and execute contracts.

Sales track record most comparable to the apartments: Sarah has also launched 341 George Street, Fitzroy and sold 70% of the building within 48 hours with rates from $10,000 to nearly $18,000 per metre square and that project is in Fitzroy.

VIEW PROPERTY

Sales track record most comparable to the penthouse: East Melbourne is one of the most affluent suburbs. Prices continue to grow and buyers flock to this prime position. You’ve got all the convenience of the city on your doorstep, with the added bonus of exquisite Victorian architecture and expansive, relaxing public gardens. East Melbourne housing is nothing short of spectacular.

Sarah just broke the price per SQM record in East Melbourne next door at 911/280 Albert Street. This penthouse has a 36m frontage with a 186sqm private terrace. Sold off the plan for $8,300,000. There has since been a significant increase in prices.

Sarah then sold for $9,700,000 and was 348sqm internally which equates to a rate of $27,873.56 per sqm.

VIEW PROPERTY

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Issue 8 RT Edgar have a number of completed projects under our belt.

Stretching across Melbourne, we know how to sell off the plan, create a vision for buyers and execute contracts.

Sales track record most comparable to The Mansion and The Terrace Homes: 130-134 George Street, East Melbourne.

Sold late last year for $7,300,000 on 330sqm land.

A huge price for 3 beds, 3 bath, 1 car in garage.

VIEW PROPERTY

READ TESTIMONIAL

Sarah also sold 24-28 George Street, East Melbourne (the old George Street Post Office) for mid $10,350,000.

VIEW PROPERTY READ TESTIMONIAL

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Notable Salesprojects Comparable of 2020for sale in East Melbourne

Please find below a sample of sales from

Below is the sales grid of a re The Eastbourne at 280 Alb These Mirvac residences were sold off the plan from Below is a sample o

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m 372-376 Albert Street East Melbourne

ecent East Melbourne project. bert Street, East Melbourne. m 2016 and the homes were completed in Q2 in 2019. of sales summarised:

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Notable Other projects Sales of for2020 sale in the area with RT Edgar

Below is the curren

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nt sales grid of our current project:

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Notable Sales Proposed pricing of 2020 schedule (part 1)

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Notable Sales Proposed pricing of 2020 schedule (part 2)

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Feature - For Why RT Properties Edgar needs to Sale be your agent of choice

RT Edgar has been widely acknowledged as the prestige property expert.

For generations, our success has been built on a solid foundation of close and collaborative relationships and a premium level of experience and service.

We have a proven track record for both prestige homes and also off the plan projects and we achieve the highest prices as you can see from our our outstanding results which no other agent comes close in East Melbourne We nurture and value our personal relationships with each of our clients and understand selling a home can be a very stressful time. We work closely and collaboratively to develop the best possible strategy and provide consistently reliable feedback along the way.

Our sales negotiators are single-minded in their commitment to achieving and exceeding expectations where competition is key.

Our average days on market over last 3 months is down to 26 days per listing.

We speak over five languages in the office.

Our team can work with any buyer – we have you covered.

With an emphasis on professionalism and personal integrity, RT Edgar continues to offer the same premium service first committed to by its founder more than 125 years ago, helping their client’s properties make the best first impression, for the right buyers, to deliver the ultimate result.

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POINTS OF DIFFERENCE - Highest selling prices achieved in East Melbourne 2 Years Running - Stability of our team and proven track record - Multiple offices working together - Trained and accredited team - Thorough follow up with new enquiries - Extensive database - Weekly e-newsletter - e-Brochures - Exclusive Showcase advertising (for a greater buyer reach)

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Proposed Advertising Notable Sales of 2020 Schedules

A prestige apartment complex (along with The Mansion and The Terrace) of your calibre is a commercial agreement w realestate.com.au & domain.com.au. The rates for products such as Project Profile are the same for every agency when relates to the development promotion – it all depends on the size and duration which is priced on a case by case scen

We can work with you collaboratively on pricing and duration once we are appointed as your agency of choice. As pe previous off the plan projects in a similar location, we would anticipate the budget at approximately $6,000 - $12,000 month.

In relation to The Mansion and The Terrace homes we have provided two proposed schedules (prices quot are per residence). One is an Internet Only campaign and the other is an Internet Campaign but incorpor 3 weeks of Print Media plus social boost and Dream Homes. I am happy to explain these in more detail on meet.

ADVERTISING SCHEDULE - Option 1

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with n it nario.

Issue 8 ADVERTISING SCHEDULE - Option 2

er per

ted rating nce we

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Notable Salesstrategies Engagement of 2020 with buyers/high net worth individuals RT Edgar understands and invests in both traditional and innovative new marketing techniques, customising a print and e-marketing strategy that promotes your project to the widest possible yet targeted audience. Both local and international mediums are explored to ensure your sales potential is maximised.

Taking account of the key elements and winning strengths of your property, as well as your personal requirements, we recommend the following combination of public relations, marketing and advertising opportunities to attract more buyers to your property.

DATABASE We believe we have the most extensive database for East Melbourne having sold the majority of the homes and apartments within the suburb. Plus, many of our existing relationships are with high net worth individuals that we have built trust with over their property journey.

Combining our relationship with them with an effective CRM, we can personally introduce and showcase the development in their inbox and followed up via a personalised phone call.

BOARDS I am sure you will be putting up a large Hoarding displaying full colour ‘hero images, accompanied by a brief description specifically designed to motivate enquiry and inspection.

We would love to use a unique QR Code to direct traffic easily and immediately to the website for more information and where they can easily register their interest.

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2 Power Avenue, Toorak Live The Luxury Life Nestled within Toorak’s exclusive Moonga Estate, this luxurious five bedroom, six bathroom two-storey residence resides on expansive resort style 1678sqm (approx.) grounds with a floodlit north south tennis court and a swimming pool behind a private 36 metre (approx.) frontage.

Defined by timeless contemporary elegance with superb connections to the manicured gardens, this prestige residence offers a superior environment for entertaining, outdoor enjoyment and day to day family living.

DELIVERED POST CARDS ‘Just Listed’ postcards are a very effective way to the surrounding neighbourhoods.

Thedelivered north-facing landscaped grounds are linked Often a buyer for this property is sourcedbyfrom the immediate and surrounding areas.studio extensive terraces and offer a courtside

with complete spa suite, elevated spectator terrace Sending these postcards will have the neighbourhood youand can’t for good overlooking thetalking tennisand court gaspay heated pool plus word of mouth. an enclosed barbecue kitchen with servery windows, cellar and poolside bathroom.

We would also recommend doing a larger postcard drop primary in those eastern suburbs typically where the buyer is most likely toBeyond come from. the marble floored entrance foyer, an array

of living spaces include beautiful light-filled reception E-MARKETING rooms each with wood burning fireplaces in marble Email marketing material direct to all potential buyers who doors have either surrounds, French to theattended terraces an andRT private Edgar open for inspection, submitted an email enquiryviews or personally contacted by an RT across the grounds.

Edgar consultant. Every purchaser that inspects one of our properties has their name, phone number and email address recorded categorised so it may referenced A and granite chef ’s kitchen topsbe theeasily home off and is when a suitable property is listed by us. We email all buyers that have viewed or enquired equipped with a suite of Gaggenau appliances, work about similar properties in East Melbourne and surrounding neighbourhoods over the last 2 station and two Vintec wine fridges. years, informing them that a similar property has been listed for sale. These clients are then followed up with an e-bulletin detailing your property a link to the property’s Sold for anand undisclosed price in Maywebsite 2020. for additional information.

VIEW PROPERTY

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Notable Sales of 2020 WEBSITES Upload your property to 11 strategically selected internet sites including international websites as well as our specific Chinese websites. Internet marketing can, should and will continue to be a powerful force in any successful advertising campaign. Each website attracts its own target audience, making it essential to advertise your property across a range of leading national and international platforms. At RT Edgar, we upload to the following leading websites:

VIEW RT EDGAR WEBSITE

SOCIAL MEDIA Social media is one of the most effective, efficient and inexpensive ways to influence a broad spectrum of targeted buyers within a defined timeframe. At RT Edgar, our specialist digital team design a targeting strategy using a specific range of parameters that put your property in front of a motivated buyer audience. We recommend the following top social media platforms:

DIGITAL ADVERTISING:

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WATCH THE PROPERTY VIDEO FOR 4-5 MYVORE COURT

RT Edgar connects to a wide network of property professionals through our multi-office network who deliver a comprehensive range of premium services aimed at presenting your property in the best possible light.

To help your property stand out from the crowd, we engage Melbourne’s foremost property photographers, copywriters and designers who expertly capture atmosphere and showcase the key elements of your property.

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Notable Sales Proposed Commission of 2020 We are happy to discuss this further if we are appointed to market and sell the project as we don’t want to lose the project over the commission rate. We are also a firm believer in “You get what you pay for”.

For example we propose 2% plus GST of the purchase price for each sale (50% payable within 60 days of sale and the balance of 50% payable at settlement).

We believe this is a fair fee for the work, time, dedication and communication that we undertake through this process. As you can understand, it is a lot harder to sell off the plan projects than existing homes, as the level of detail the buyers require is far more substantial than showing them through an existing home.

Forecasted Sales

Combining a strong marketing campaign, a quality product and the proven track record of RT Edgar, we believe 250 Albert Street can quickly capture premium buyers, engage them to enquire and have a number of the residences sold in a quick period (similar to when we launched our current project at 341 George St, Fitzroy).

A number of buyers are looking for exceptional purchases in a great location and this hits the brief. The benefit of buying at today’s prices and then settling when the market has increased its value is also a strong quality which astute buyers look for.

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Car park allocation

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In order to maximise the sale price and assist with the process for buying, we recommend an option for an Independent Car Lift (see diagram below).

On paper, a single car park in that area is worth about $150,000 but offering a Car lift option would still add another $100,000 to the prices. Tim advised you might have the height allowance to provide a car lift on B1 therefore offering 2 carparks instead of only one. This will most certainly add substantial value to the apartments if we can provide this. We have found that only having one carpark devalues the sqm rate therefore the overall price plus most of these buyers are going to have 2 or more cars.

This Independent Car Lift was offered for half of the apartments at 341 George St, Fitzroy the rest were single car spaces from the premium apartments. The feedback was fantastic from all the buyers and with the demographic being 50 plus, they would much rather have this option than only having one carpark. A small adjustment, but you will reap the rewards and cast the net even further for prospective buyers.

Summary

Thank you for the wonderful opportunity to submit our proposal for your outstanding project at 250 Albert Street.

We truly believe that we are the only company and best fit for this project given our proven track record in East Melbourne, as you can see from our outstanding record breaking results.

We are excited about the prospect of selling this project and selling it quickly for you, so in turn you can move onto the next project and again hopefully selling with us.

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Exceptional Homes Deserve Exceptional Service

rtedgar.com 10 Wallace Avenue, Toorak