Case Study: Australia 108 Apartment Rented Out in 2 Weeks After Furnishing
Development: Australia 108, Southbank
Client/Developer: World Class Global
Located at Southbank, Melbourne, Australia108 is the tallest residential building in the Southern Hemisphere. It redefines what it means to live in Melbourne with its soaring views of the city, green vistas towards the Royal Botanical Gardens, or the stunning bay offering stunning water views. With a great selection of dining and entertainment, Southbank is the perfect balance between fun and relaxation.
Our Involvement
We were referred by Ray White Property Agent Lillian Kwan to help the client furnish a property. After we furnished and styled the property, it was rented out at $1,200/week, which is a 26% rental increase as compared to renting out unfurnished! Now, let’s get into how we approached this project.
Our Approach
Upon visiting the property, we’ve noticed the potential the property itself carries! For a start, this luxurious property contains 3 bedrooms with 2 beautiful bathrooms (including an ensuite with bathtub in Master). It also boasts incredible views of the city skyline through its floor-to-ceiling windows that encompass the living room.
With such an opulent and luxurious feel, we knew exactly who we would furnish and style this apartment for – corporate professionals with families! With that in mind, we advised Lilian to go with our Stylish Living Package. With our Stylish Living Package, we provide our client with high-quality furniture, kitchen appliances, and styling items that would complement the interior and exterior of Australia 108.
View our furniture packages here to see which of our packages is right for you.
Planning, Furnishing & Styling The Property
Planning
The whole process started with a site inspection and site measure at Australia108 so that we can come up with a tailored solution and make sure all the furniture and appliances fit the space exactly how we want it.
Looking at the floor plan, we’ve decided to centre the design around the curved windows where the tenants can enjoy the cityscape while cosying up in their living room. With the help of our interior designer, we’ve created a mood board to showcase all the furniture and styling items for our client.
Furnishing and Styling
Once the client is happy with the final design, we got started right away. After all, this is our favourite part of our job: transforming an empty space to its fullest potential! Our team came in bright and early to organise deliveries, furnished and styled the apartment for our client. We took extra care to ensure that we are not damaging the walls and floorboards of the property.
Here’s a tip: When coordinating deliveries, it’s worth booking a specific time with the building management to make sure you secure yourself a lift!
Our interior designer decided to opt for a more elegant colour palette by incorporating colours of deep blues and greens to attract the target market for this property: corporate executives with family.
Results
Fully furnished, styled, and equipped with essential appliances, the property got rented out quickly! The property was now rented out to a tenant in 2 weeks. The apartment was listed for $950/week unfurnished. After furnishing and styling the property, the rent was increased to $1,200/week, which is a 26% increase in rental return!
Check out the transformation here:
We’ve complemented the space with accents of gold in the living area to enhance and match the golden hour skyline and gold accents of the Eureka Tower.
We’ve brought in a touch of greenery which not only exudes a relaxing atmosphere but also complements Australia 108.
We incorporated pops of calming blues and greens that are not only relaxing but cater to everybody’s taste.
Recommended by Ray White Southbank
We are proud to say that Lillian was extremely pleased with our work. We received a recommendation letter from Ray White Southbank recognising our professional and prompt service.
Property Information
Unfurnished rate: $950/week
Furnished rate: $1,200/week (after MORC)
Days on market until tenanted: 18 days
Tenant: Corporate professional with family
Annual rent of : $62,400/year
Furniture cost: $18,000
Furniture paid off in: 1.5 years
Rental increase: $250/week (26% rental increase)
Let Us Help!
If you are looking to furnish and style your investment property that is focused on achieving the results you want, contact us so that we can help you out.