399: Working on a joint venture between a regeneration specialist and a housing association
This development of 183 apartments and townhouses in Colindale, NW9 was a joint venture between private developer U+I and charitable housing association L&Q.
What was our involvement?
This was another development where our involvement early in the development cycle meant we were able to contribute towards the pricing strategy and marketing approach. The development went through peaks of activity over the course of two years, with a number of phased releases.
We were able to inject new impetus to sales at various intervals as a result of a marketing campaign focused on the specific needs of the development. A number of events were held, with prize draws and family activities, and a partnership with BangBang Oriental food hall brought the history of the area to life for potential buyers.
What did we achieve for the developers?
We maintained a strong sales rate in a challenging market and Stone Real Estate was made sole agents after six months based on our performance, achieving £610 per square foot for our developer. We also supported and advised the developer over hurdles such as EWS1 (the External Wall Fire Review) in the face of those difficult market conditions.
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