Internet update
The views expressed are the author's and not those of WG&S.
Keywords Internet, Property markets, Buildings
Technology is challenging the traditional ways of marketing property. Not so long ago agents would use a signboard and produce either paper or glossy particulars to market a property, and perhaps advertise in the press. However,today through the developments in technology, numerous projects are taking advantage of the alternative forms of media available.
For small single developments, one solution has been to produce CDs to provide presentations on the building. One such example is "The Observatory",Bracknell where a "run through" presentation is provided outlining the proposed building, its location and amenities. While such presentations are of use, they do not provide a "total" solution enabling professionals to keep up to date with progress. In this respect the WWW provides a useful marketing tool, enabling information to be updated during the course of the development.
The Zammat development (http://www.zammat.co.uk/)by Welbeck Land at Maple Cross is a typical example of how to utilise the WWW for marketing a property. Accessing the menu page provides a number of options,from where further information on the development can be viewed. This includes location maps and details on communication links to the site. The specification of the proposed building is provided with plans of the individual floor plates. Clicking on "Progress on site" revealed a blank screen, though the plan is to introduce photographs of progress on-site when construction begins. The marketing agent's details are also provided by selecting "Contact", with the individual contacts provided. There is also the ability to request more information through entering contact details on the simple form provided.
Castlemore's Grenfell Island development (http://www.grenfellisland.com/) is another example of how a development can be marketed via the Web. As with the Zammat development the site provides information on the proposed development and the surrounding area. The "News" section also provides the latest press releases on the site, with photographs of how the development is progressing. There is also the ability to request a CD to complement the Web site, which provides more detailed information on the development and the surrounding area, including communication, demographic, housing and leisure information with links to related Web sites.
Of course, the Web lends itself more to larger scale developments, where the site can feasibly remain active after the development too. Prudential's Green Park development on the edge of Reading (http://www.greenpark.co.uk/)demonstrates how such a Web site can be used in the initial stages of development. Like the previous sites, information on the development is provided including a photographic history of the site highlighting the development of the site through time. However, this site goes further than others and enables visitors to download marketing brochures direct, provided the appropriate viewer is loaded on the PC. Given that this development is likely to take five to ten years to be fully complete, there is the potential to provide a very informative Web site for this development, and expand with time.
Web sites need not be restricted to proposed developments or those currently under construction. Stockley Park (http://www.stockleypark.co.uk/)demonstrates how a site which is largely developed can make good use of the Web. Whilst the site outlines further phases of potential development, the site is designed more to provide information on the development to date. In this respect visitors to the site can identify current occupiers on the park either by occupier, building or architect. Choosing the "Index by building" provides a list of the individual buildings on the site. Clicking on one of these links provides a summary of the building, including information on current occupiers,floor areas and ownership. The site also has a news section with links to press releases, including details of lettings.
Beyond information on occupiers, the site also provides local travel information, appealing to the "green" transport policy which is likely to impact on developments of this kind in the future. At Stockley Park the plan is to reduce car usage by 20 per cent in a five-year period. This section of the site outlines the transport plans, details on public transport serving the site,locations of bus stops and times, which is updated on a regular basis. Given that many occupiers are IT related, this Web site is well thought out, and a demonstration of how to utilise the WWW for a development site that is largely complete.
Information on developments need not be restricted to the individual sites themselves. A number of development companies have Web sites of their own, and use this site to highlight their portfolio of developments. Akeler (http://www.akeler.co.uk/) provides a summary of some of its developments with available space, both in the UK and overseas,including Central Quay (Glasgow), Reading International Business Park, and Quinta da Fonte (Portugal). For each site a summary is provided of the development, including, for some, photographs of current development progress and artist's impressions of the final developments. Links to the marketing agents are also provided.
Arlington also provides a summary of its portfolio (http://www.arlington.co.uk/) with a map showing the individual locations, and by clicking on one of these locations a brief summary of the development is provided. Slough Estates (http://www.sloughestates.com/) also has a site, which besides details on the company itself, also has information on its portfolio of current properties and future developments both in the UK and overseas. The UK sites are divided up into sectors, e.g. office and industrial,with links to the individual properties providing information on floor areas and the building specification.
Overall, it must be remembered that developments do take time to progress,and therefore constant updating of these sites is not always possible. Quite often little changes in a period of a couple of months, which can deter visitors. Nevertheless, it has to be appreciated that these sites are more a marketing tool, and a powerful one in this sense, for how else do you attract potential occupiers both in the UK and overseas?
Whilst it is not possible to review every site, others include:
Cambridge Business Park: http://www.cambridge-business-park.co.uk/
Cambridge Research Park: http://www.cambridgeresearchpark.co.uk/
Cambourne Business Park, Cambridge: http://www.cambournebusinesspark.co.uk/
Lakeshore, Bedfont Lakes: http://www.lakeshore.co.uk/
Castlemore: http://www.castlemore.co.uk/
Nigel AlmondMarket Analyst, Weatherall Green & Smith, LondonE-mail: nia@weatheralls.co.uk
