Buy land and get a scholarship package.

[mja]

News just in...

http://ipswich-news.whereilive.com.au/news/story/land-and-school/

SELLING property these days is not as easy as sticking up a For Sale sign.

Now a developer is offering to chip in at least $35,000 to help put buyers’ children through private school.

In what is believed to be an Australian-first marketing strategy, Springfield Land Corporation is promising to fund a portion of education costs of families who buy home sites in Brookwater.

The deal applies for schooling at The Springfield College or St Peter’s Lutheran College at Springfield, for families who buy land before December 31.

Springfield Land Corporation marketing and communications executive general manager Naren Sinnathamby said the deal, representing the approximate cost of one child attending five years of school, would be capped at 12 per cent of the land’s purchase price.

Mr Sinnathamby said 250 sites remained at Brookwater, with land starting at $235,000.

“We recognise that access to a first-class education is a right that everyone is entitled to and we consider it a privilege that we are able to offer this to our Brookwater residents,” he said.

Ipswich-based marketing professional and Chamber of Commerce business person of the year, Andrew Spark, said such promotions were not uncommon given the economic climate.

“All marketing is about offering a point of difference,” he said.
He said however there was a fine line between stimulating the economy and venturing into the “free steak knives” category.

“Businesses need to still realise that customers are individuals. And, people need to be mindful of their own circumstances.”

Mr Spark said he believed the “concept” of Springfield to be unique as it was encouraging people to live, work, attend school and play within the community.

Steve Croft, head of The Springfield College, said the scholarship was an exciting development.

He said entry would be subject to available places in every year level, but foresaw no problems.

“This scholarship is about offering an independent style of education, and it’s about community building as well,” Mr Croft said.

REIQ Ipswich zone chairman Peter Mendoza said marketing ploys were sometimes used in quiet markets.

“Generally the top end of the market is quite slow,” he said. “Anything under $400,000 is very active. You often see people selling land with different gimmicks but I haven’t seen one with education.”

So... buy land in Brookwater, QLD, and the developer, Springfield Land Corporation will contribute 12% of the purchase price to an education scholarship. You have to use the scholarship on one of the local schools in Springfield though.

I found this interesting. Has anyone seen scholorships being offered with land? Almost sounds like the developer is including free steak knives (as is mentioned in the article).

I own a property in Brookwater (no, I didn't get in when prices were $75k in 2002 ), and I've seen other promotions by this developer such as:

* We'll pay your interest bill for the first 6 months
* VIP leasebacks (8% nett on $1.145m golf frontage property)
* Free golf membership