Multipart launches virtual off the plan sales

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WITHIN a week of holding a virtual launch for its new $120 million waterside project in Newcastle’s Wickham, developer Multipart Property has secured seven off the plan sales including a $1.5 million penthouse.

In what is believed to be an industry first for the off the plan sales market, the 14-level Bowline was launched using Immex, a new virtual display suite platform that is one of a number prop tech innovations used to circumvent social distancing rules.

Effectively a virtual display suite. Potential buyers have unrestricted access to a 3D model of properties, can shortlist favourite apartments and correspond directly with the agent, as well as inspect individual apartment floorplans and view corridors.

Located at 10 Dangar St, Bowline comprises a total of 97 apartments in a range of one, two and three-bedroom configurations with views of Newcastle Harbour and nearby marinas, and adjacent to the new Newcastle light rail interchange.

On its lower four levels, Bowline features offices and retail spaces with a communal outdoor area on the fourth-floor podium.

Twenty-seven platform appointments took place in the first seven days.

“This technology lets us embrace a ‘business as usual’ mentality in what is a very unusual time. Our move to prop-tech has been consistently evolving and with the rapid escalation of COVID-19 effectively changing residential real estate marketing overnight – we were very fortunate that we had the foresight to introduce these on-line selling approaches prior to COVID-19 becoming a truly global challenge,” David Desson of Multipart Property said.

Applications of Immex extend to exchanging legal contracts and make a deposit. Bowline is the first apartment project to use the platform.

Ryan Houston, partner of PRD New Projects, sales agents for Bowline, says the Bowline platform delivers “the ultimate transparency in real estate”, “removes all the guesswork and provides certainty for buyers to purchase off-the-plan with confidence”.

“We can even change colour schemes and finer details, letting buyers make direct comparisons in real time.”

Prices at Bowline range from $465,000 to $515,000 for a 61 sqm one bedroom apartment. Two bedroom units are priced from $650,000 for 86 sqm, to $1,075,000 for an 87 sqm top floor apartment, and three bedroom apartments start from $1,010,000 for a 110 sqm configuration and range up to $1,500,000 for Bowline’s expansive penthouse.