Why boutique developers deliver a different experience.

E D UCAT I O N S E R I E S

THOUGHT

L E ADERSHIP

A

CONVERSATION

WITH

THE

FOU NDE R

Why boutique developers deliver a

different experience.

On quality, control, and the quiet decisions that shape how a home is lived in — ten and twenty years from now.

WRITTEN BY

Brent Thompson FOUNDER AND MANAGING DIRECTOR

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THOUGHT LEADERSHIP

E D U C AT I O N S E R I E S

CHAPTER I

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BEGINNINGS

Where It Started People ask me all the time what makes one developer different from another. Not the marketing version, the real version. Who is making the decisions, what happens behind the scenes, and what does the finished product look like five or ten years after everyone has moved in. It is a fair question, and it is one I have been answering my whole career.

My career did not start in development, although the goal was always to get there. It started on the tools as a carpentry apprentice, a very BRENT THOMPSON FOUNDER AND MANAGING DIRECTOR

blue collar, grassroots beginning. I learnt my trade from the ground up, then learnt to run and build a business and build a team. My first development was going to be four townhouses, which through an opportunity became ten. There was always a plan to become a quality property developer, and we have always been boutique by nature.

We love being close to every decision, every material choice, every conversation with an owner. As SIERA has grown, we have always made a deliberate choice to stay that way. We do not want to be corporate, and we do not want to take on more than we can manage in a way that compromises our control over the quality, the design, and the experience. Being a nimble team who interact across every department of the business means there is a face behind the name.

Real connection.

48%

of property buyers are actually satisfied with their relationship with their developer.

INDUSTRY RESEARCH

Industry research tells us that only 48% of property buyers are actually satisfied with their relationship with their developer, which places the new property sector at the bottom of most customer satisfaction benchmarks. When I read that, it reinforces exactly why we operate the way we do.

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THOUGHT LEADERSHIP

E D U C AT I O N S E R I E S

CHAPTER II

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SCALE

Boutique company, not small ambitions.

There is a distinction here that matters. SIERA is a boutique

come with being boutique, the attention to detail, the direct

company, but it does not mean we do small things. We are

communication, the relentless quality focus, we apply them

now working on our 18th project, having most recently

to everything we do regardless of scale.

completed PIPIS, 19 absolute beachfront residences in Bilinga. Tapestry is 113 residences and nearing completion.

Exhale is 54 residences with construction now underway, and Canopy is 130 residences currently in the development approval phase. These are incredible projects with end values ranging between $150 and $250 million.

And here is the part that surprises people: being boutique does not mean it costs more. Because we are so lean, so nimble, and we control the whole process, we are able to deliver at great value. We handle all the sales, all the marketing, construction, and design efficiency ourselves.

There is no middleman. We are wholesale. We are not paying

What makes us boutique is how we deliver them. We are a

external consultants and professionals to do every single part

lean, systemised team without levels upon levels of

of the process, each making a margin along the way. We do it

management and corporate overhead. All of the things that

ourselves, so the price we deliver is the best value our owners can find.

TA P E S T RY · 1 1 3 R E S I D E N C E S

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PIPIS · 19 RESIDENCES

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E D U C AT I O N S E R I E S

CHAPTER III

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THOUGHT LEADERSHIP

ON THE GROUND

Every Day, On Every Project The construction site is where the rubber hits the road. All of our design decisions, all of our promises, that is where they are being delivered. It is incredibly important to know every day what is happening on site, in the place where people will ultimately live. There is no middle management, no corporate structure slowing things down. If something the sales team are hearing needs to be addressed on the construction side, that can be communicated in five minutes, not through multiple people and multiple chains of approvals. We are constantly refining, tuning, improving.

Everyone is one team working together. There is full accountability. The people making promises about design, quality, and timeline are working alongside the people delivering them every single day. That is what being boutique allows.

I always say we are a small, lean team doing big things. The

W E E K LY S I T E WA L K T H R O U G H S

These are choices that are not required.

They are things where we want to create a better space, a better experience, better homes.

— BRENT THOMPSON

whole team, including myself as the founder and managing director, is working across every part of the business.

Marketing, sales, aftercare, caretaking, management, and construction. Everybody is talking to everybody. My development managers and head of development are on construction sites every week, speaking to the construction team, then walking into the sales display and speaking to the sales team, along with owners and potential owners.

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THOUGHT LEADERSHIP

E D U C AT I O N S E R I E S

CHAPTER IV

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T H E D E TA I L S

The Details People Live With Every Day We are always looking at what is in the best interest of

Then there are the details that might not make a

the people who will live in our buildings. Always. If we

brochure but make all the difference in how a place

take Tapestry for example, there have been so many

feels. Working with the landscape architect and the

decisions made across using 2-pac cabinetry rather than

landscape contractor, going to the nursery and hand

standard melamine, having 2400mm high doors

selecting the feature trees, inspecting the plants and

throughout with 2700mm high ceilings, and specifying

deciding what goes where. We put plants on grow

double glazing for all the windows for better acoustic

contracts and buy them early so they can mature and

and thermal performance. When people live there, it

be large and established from day one. Our communal

really matters for them, and it matters for the building

areas use premium products, natural stone, and

long term.

materials that genuinely elevate the spaces people

In our buildings we only use the best of the best when it comes to things like the lifts. We have chosen KONE

share. We always choose to have heated magnesium pools so residents can use them all year round.

because we want to make sure the lift is fast and

Upgrading front door entry locks to smart locks, for

reliable and it reduces people's wait times. Those things

example, was not something we sold to anyone. It is

matter not just at the point of sale, they matter when

simply that we are always looking at how we add value,

people move in and ten and twenty years down the

how we improve, how we do more. These are choices

track.

that are not required. They are things where we want to create a better space, a better experience, better homes.

They all cost money, but they are the decisions that separate buildings people love living in. And of course, protecting value and adding value long term is so important. We see that where people leverage the SIERA brand when they are reselling, if they do choose to move on or circumstances change.

H ANDS-ON INSPECTION · CABINETRY

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C O N S I D E R E D H A R D WA R E

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THOUGHT LEADERSHIP

E D U C AT I O N S E R I E S

CHAPTER V

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C O M M U N I CAT I O N

CHAPTER VI

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CULTURE

Communication is Everything

What It Takes

As a business we know communication is key and we

Operating this way does create an incredible amount

pride ourselves on the level of communication we

of responsibility. The whole team is working across

deliver. We send monthly project updates keeping

everything to make sure it is right, and there are a lot

everyone fully in the loop on exactly where

of work fronts to be across. But this is how the

construction is at and where approvals are at. If you

business has grown up. We have always had to wear all

turn up on one of our projects and run into a team

the hats, always had to be nimble, always had to be

member, they will be happy to update you and fill you

across all the detail. That is how you bootstrap a

in. Everyone is across what is happening across the

business from where we started to where we are today.

business and across the projects.

Our approach takes incredibly passionate, hard

All of our teams are talking to each other. Sales are

working, and talented team members, and we are

talking with construction, talking to the development

fortunate to have an amazing culture that attracts the

team, and we hold regular meetings so people know

right people to the business. We want people who love

what is happening. You can always speak to someone

what they do, who have attention to detail, who are

who knows the answer, or can certainly find it out for

relentless and passionate. When you have all of those

you and get back to you. We have an open door.

qualities, the hard work is not a painful thing. It is just what you do.

CHAPTER VII

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THE PROOF

The Proof is in What We Have Built As a business, we have deliberately chosen not to enter awards or chase trophies. The proof is in what we have delivered. And here is the number that says more than any

9/10 still live in their SIERA home

award ever could: nine out of ten people who have purchased from SIERA still live in their SIERA home. In an industry where barely half of buyers are satisfied with their developer, nine out of ten of our owners chose to stay. You cannot manufacture that. You cannot fake a track record and you cannot fake quality.

The proof is also in our team, the passion of our people and how long they have been on the SIERA journey and have chosen to continue to be part of it. It is in our growth, from humble beginnings to delivering projects like PIPIS, Tapestry, Exhale, and Canopy on the Gold Coast. It is in how we operate, how we have risen, and how we treat people along the way.

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