An extensive analysis encompassing asset performance and historical marketing investment was undertaken on 140 Perth during project discovery. This uncovered key insights that informed the development of a strategic marketing and communication framework underpinned by brand, and a whole-of-project approach to steer the precinct to a leadership position within Perth's CBD retail landscape.

A project pathway was established to balance near-term challenges with long-term commitments, which required transformational thinking across all marketing disciplines to ensure the precinct remained relevant today and into the future.

The plan addressed the short-term challenges faced by the retail sector, being COVID-19 recovery, visitation in CBD traffic, hybrid working habits and increased competition, whilst establishing a long-term project pathway to drive commercial outcomes for the precinct and effectively reposition it as an urban destination at the intersection of art, retail and popular culture.

Discovery identified that a re-brand alone would not be effective in overcoming these challenges and the work undertaken by the client, managing agent, leasing agent and public art consultant, in the context of the operational tenancy mix, required the support of a cohesive capital works project to evolve the 140 Perth user experience.

The asset evolution was underpinned by a retail strategy that implemented short-term activity aimed at mitigating further moving annual turnover (MAT) sales decline across existing operational tenants, acquisition, and retention of market share; and long-term strategies to improve the positioning, experience, and appeal of 140 Perth as a hub for new urbanism that connects culture and consumerism.

Key projects like ‘Chomp’ and ‘Grab Lunch’ – ongoing destination awareness campaigns integrating operation retailer offers at set price points – and 'Maarakool' – a purpose-led integrated community arts campaign developed in concert with the 140 Perth public art upgrade strategy – collectively resulted in significant MAT and traffic growth year-on-year, including the effective mitigation of sales decline across the COVID-19 trade period.

Of the 13 retailers at 140 Perth that had been trading prior to COVID-19, eight retailers (62 per cent) exceeded their pre-COVID sales levels, directly attributing this to the precinct marketing strategy; and a further two retailers (15 per cent) were at 95 per cent of their pre-COVID levels, leaving only three retailers yet to achieve their pre-COVID levels as at March 2023.

The destination and awareness campaign was recognised as runner-up in the 2022 SCCA Awards and named a finalist in the 2023 SCCA Awards and the Property Council of Australia Innovation and Excellence Awards. Maarakool was also recognised as a finalist in the 2023 SCCA Awards, Property Council of Australia Innovation and Excellence Awards and the 2023 Australian Institute of Marketing Awards.

The project approach for the asset involved the completion of a two-phased asset evolution strategy, three operational marketing plans, the end-to-end delivery of 16 integrated campaigns and 71 activations, and the value management of significant marketing investment across a 24-month period.