Case Study: Australia 108 Apartment Rented Out in 9 Days After Furnishing
Development: Australia 108, Southbank
Client/Developer: Lien, Overseas Investor
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 $425/week, which is a 31% 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 were instantly impressed by the spectacular views this apartment had to offer. It boasts incredible sights of the city skyline through its floor-to-ceiling windows. However, as a one bedroom apartment, the space was limited. Our first thought was to make this space feel bigger than it really was through clever choices in furniture, décor and colours. With that in mind, the perfect package for our client was the “Stylish Living” package. In this package, we provide high-quality furniture, appliances, and styling items that would complement the interior and exterior of Australia 108 whilst creating a warm atmosphere to attract quality tenants.
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.
The floor plan had naturally set the path for how our furniture would be laid out. We knew exactly how we were going to set the space up for its inhabitants. The important decision was choosing the right size furniture to maximise the space. Going too big would feel overcrowded while going too small could draw attention to the size of the interior. We like to find a happy medium. With the help of our stylist , 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 get started right away. After all, this is our favourite part of the job: transforming an empty space to its fullest potential!
Our team came in bright and early to organise deliveries, assemble and set up furniture and style the apartment for our client. We took extra care to ensure that we were 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 Stylist decided to mix elements of earth and water to form her calming colour palette. Greenery was brought in to continue the sense of tranquility. These colours tend to resonate with most people which is just what we needed. This is a big reason why the property was leased within 9 days!
Results
Fully furnished, styled, and equipped with essential appliances, the property got rented out quickly! The property was rented out to a tenant in just 9 days after furnishing. The apartment was listed for $325/week unfurnished. After furnishing and styling the property, the rent was increased to $425/week, which is a 31% increase in rental return!
Check out the transformation here:
The soft wood tones against the cool blue accents harmonised beautifully in this apartment. As soon as the furniture and decor went in, the space felt so much bigger.
The earthy tones in this bedroom feel so inviting after a hard day’s work. Mixing multiple earthy tones together will give you this peaceful vibe. Try it yourself, you can’t go wrong!
The furniture chosen was the perfect size for this space. The soft colour palette ensured that the jaw-dropping view would not be missed.
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: $325/week
Furnished rate: $425/week (after MORC)
Days on market until tenanted: 0 days
Tenant: Single Professional
Annual rent of : $22,100/year
Furniture cost: $9,900
Furniture paid off in: 2 years
Rental increase: $100/week (31% 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.