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CHALLENGE
McArthurs Yard is a mixed tenure development consisting of 50% private open market and the remainder being a mix of shared ownership and social rented apartments. Offering 142 apartments in a prime waterside location within Bristol’s city centre.
SOLUTION
Worked alongside the client to create a viable development; Using Savills extensive market knowledge and research data to create a market facing development that will be in demand for the private target market.
The development will launched to the market in Summer 2023 with Savills working hand in hand as a partner to the developer to create and input the open market sales process. Savills provide ongoing marketing and consultancy advice to the manage the private sales. The objective is to maximise values and achieve a steady sales rate of 4 per month.
RESULTS
Produced an open market sales strategy alongside the client in a market where buyers are nervous of buying off plan due to the changes in the mortgage market and increased interest rates.
The client has limited experience in the private market and off plan sales; reliance on the Savills knowledge and expertise in this sector has allowed processes to be implemented and the wider Guinness business to understand open market sale requirements.
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