Marketing and Lettings strategy for 1,200 Build to Rent apartments in Stratford

Challenge 

Two-fold - to help define and position URW's (Westfield) new residential offer for their 3,500-apartment portfolio in the UK and then to create a progressive lettings strategy for their 1,200 apartments in Stratford.

Response 

Taking research already completed, together with a field study trip to New York with URW, we interpreted the data into human-led insight to develop a brand architecture and positioning for Westfields residential offer.  Then, working closely with URW's marketing team and their research house, focus groups were undertaken to test the proposition and understand audience preferences.

The second part of the project was to develop the lettings strategy for 1,200 apartments in Stratford. Case studies of large scale BTR developments were compiled and this together with additional research and industry benchmarking, helped us to deliver a set of key findings from which the leasing cornerstones and subsequent marketing and leasing strategy were developed.

We built a financial model to understand construction delivery, pricing and apartment release strategy and from this, we were able to make strategic business recommendations to URW including de-risking opportunities, lettings velocity propagation and certainty around achieving commercial goals.

IMPACT

By working closely with SAY Property, we delivered a lettings and marketing strategy that links closely to the operations and management strategy; meaning that URW has a joined-up approach to achieving a best-in-class large scale Build to Rent development.

In addition, through our financial modelling, important pinch-points and opportunities were revealed, allowing for evidence-based strategic decision making by URW.