Urban New Build Site

Firas is an experienced mid-sized builder from out of state. When he moved to Melbourne permanently he decided to wrap up his building company and move full time into development.

The vast majority of property developments require Council Planning Applications. Firas pushed us to find him projects where he could avoid the time-consuming (and often, incredibly frustrating) engagement with Council. We explored permitted sites that were ready to build AND blocks where single, brand new houses would sell for big dollars.

Many agents across Melbourne reach out to us with off-market sites and problem listings. This was a problem listing – they initially advertised at too high a price and burned a couple early serious buyers, the came under immense financial and personal pressure to sell. Luke called.. just get him an offer!

Brand new, quality houses sell for $4m+ in this particular neighbourhood. I quickly ran numbers, examined the contract and inspected the property. After sharing my analysis with Firas, he had a few questions that I ran to ground. We met on site, and ultimately secured the property within 72 hours of Luke ringing me.

Originally seeking over $1.5m the vendors dropped the asking price to $1.479m, then $1.450m… We bought it for a crazy $1.350m.