Ross is a builder that we’ve known for years. When this off-market property came to me with highly motivated sellers I immediately rang him and ripped into a Feasibility.
It’s a difficult Council to attain Planning Permits through, but we’ve had success there and understood their obsession with trees and drainage. An arborist attended site within 24 hours, and we got clear advice from our drainage engineer around legal point of discharge location and requirements.
In consultation with my Town Planner, we all agreed that a 3 townhouse concept with two vehicle cross-overs was a safe proposition. We could design around 2 high retention trees, and incorporate a GF Master suite into the front and back townhouse. The numbers stacked up well at a purchase price under $1.1m, and they were really compelling at under $1.0m.
I know the agent, and he gave us the inside story on the vendors’ motivations. We negotiated hard and secured the property at a great price with a long settlement. Ross didn’t require any help with the planning and design process, but he kept us abreast of progress and asked us for our thoughts throughout.
He timed the market really well and decided to cash in on profits without building. Capital was freed up for another project.
Ross had nice things to say about our work: “Andrew’s attention to detail as a buyer’s advocate was second to none. We purchased a development site using Andrew’s wealth of methodical and analytical research. Each property presented to us in the leadup to purchasing our property was considered and analysed. In the end we were very happy with our purchase. Highly Recommended.“
Diverse with big activity centre, transport, amenities and schools
975m2 flat rectangular with wide frontage
Tidy but dated weatherboard
up to $1.050m
Off-market with highly motivated sellers
House $0.880m | Unit $0.630m
7.5% p.a. over last 10 years
Activity Centre, transport options, increasingly affluent demographic; big gentrification
Exceptional price with long settlement, decent rent, and safe profitable planning
Attain a 3-townhouse permit with shared drive; choose to build or on-sell
18 months from purchase to build docs
$1.225m to build docs
$1.405m sold with plans
Harvey is a big earner, building a portfolio of negatively geared properties with value-add
Price : $1.850m
Location : Blue chip, affluent, close to hospitals, transport, shops and parks
Scope : 3 large, quality, detached houses
Profit : $0.900m
Return on Cash : 48%
Jim semi-retired from finance young and is building an impressive portfolio
Price : $0.950m
Location : Urban, gentrifying, with good transport and access to CBD
Scope : 4 attached street-facing townhouses
Profit : $0.475m
Return on Cash : 45%
Jack asked us to JV with him on a bigger site, and this made sense for us both.
Price : $2.125m
Location : Quiet, leafy, family-oriented with top schools and shops
Scope : 8 townhouse with dual access
Profit : $0.675m
Return on Cash : 58%