Why developers are teaming up with luxury partners

When someone buys a home ‘off the plan’, they’re not just buying bricks and mortar; they’re also purchasing the lifestyle and amenity that the development offers.

And one way developers can evoke a lifestyle is by teaming with luxury partners to provide a taste of what that life will be like.

Property developer Thirdi Group is leading the industry in brand alignment initiatives and has secured the support of some of Australia’s – if not the world’s – leading brands and individuals, all vested in making Thirdi developments a success.

For its latest luxury Sydney development Paragon of Pyrmont at 108 Miller Street, Pyrmont, Thirdi is teaming up with brands such as TESLA, Coco Republic, Ferrari Maserati, Moet Hennessy, Bang & Olufsen, and Linneys. These varied brands are all working together to promote the development to their own private client databases.

Luke Berry, Thirdi Group’s director of sales and marketing, says the idea is to create as much value for clients as possible.“It’s not just about giving people a space in a great location, it’s also about what we can put ‘in’ this space, what appliances we can use, what innovations we can secure and what else can we offer the project’s demographic,” he says. “The brands we’re working with on the Paragon represent the ideal demographic we’re targeting.”

Berry says by working together, Thirdi Group gets to leverage its partners’ customers and networks, as well as the benefit of brand association.

“Our partners might put on special events for their customers that promote our project and this leads to more people coming to our display suite and because of this we are seeing a direct impact on sales,” he says.

Charlotte Dub, Coco Republic’s business development manager, sees advantages for both parties. “We provide Thirdi with design services and special offers for their purchasers,” she says. “For the Paragon, we styled the display suite and provided style and direction for the marketing CGIs.”

Coco Republic will also offer Paragon purchasers marketing initiatives such as complimentary interior design consultations and significant discounts off its products and services.

Dub says what’s attractive about partnering with the Paragon is that the buyer profile reflects Coco Republic’s clients. “The Paragon appeals to a discerning client,” she says. “It’s a luxury development so the potential purchaser is likely to be a Coco Republic customer. That is where the main synergy is.”

An artist’s impression of the Paragon of Pyrmont interior design

While there are clear synergies with this partnership, Hub says there are some developments where it wouldn’t work.

“We are picky about which development we team with; we wouldn’t want to be associated with a low-end, poor quality development as that would damage our brand,” Dub says.

Ferrari Maserati Sydney is also partnering with Thirdi for the Paragon. Simon McCarroll, dealer principal, Ferrari Maserati Sydney, says cross-channelling has become an extremely successful strategy.

“Brands and industries that at first seem far away from each other share the same values and prospects,” he says. “Paragon of Pyrmont is Sydney lifestyle at its best: a view, a location and hopefully a Maserati in the garage.”

McCarroll explains that in collaboration with Thirdi, Ferrari Maserati Sydney came up with an experience exclusive to Paragon buyers. “Every owner will be given a Maserati lifestyle experience,” he says. “We will put them behind the wheel of a Maserati for a thrilling day of scenic driving and fine dining.”

He adds when it comes to these types of partnerships, “It’s a giver’s gain approach”. “We believe that both parties will benefit from the collaboration,” he says.

Meanwhile, Berry says Thirdi Group’s vision for their partnership program will continue well after the settlement of their client’s properties.

“The beauty about partnerships is not only do they add value to the development during the sales process, our clients will enjoy ongoing discounts and exclusive incentives with these partners via our ‘Thirdi Says Thank You’ Program.”

For more information, visit paragonofpyrmont.com.au