Andy approached us in mid 2020 with a common brief: Find him a profitable development project site +/- $1.3m, oversee all planning and design, tender the build, and assist with contract appointments.
We quickly zeroed in on a few suburbs that suited his parameters at the time and we identified a couple suitable sites within a fortnight. Our preliminary feasibility studies provided high level estimates of market values, site yields, costs, equity/debt requirements, and profitability.
Being interstate, we provided Andy with detailed suburb profiles that explained why these target areas suited him. He really liked this one, and we quickly firmed up our feasibility study, with feedback from Council, our preferred Town Planner, Arborist, Land Surveyor, Conveyancer and a couple local agents.
After purchasing the property, I project managed the entire design process and tied Andy in when his input was required. But given that he is a busy IT Professional and I develop property for a living, he was happy to let me run it with maximum discretion.
We moved onto completing build documentation – architectural drawings, civil and structural engineering, build specifications, etc. We tendered the build to three suitable builders, and assisted Andy in negotiating a fixed price build contract.
The project is nearly complete and Andy will be cleaning up. We have since purchased him another project.
Safe, community-focused lifestyle suburb with parklands, schools, shops; increasingly affluent
1230m2 with wide frontage and easy subdivision
Original but tidy brick veneer
up to $1.350m
Private Sale, 3 weeks Post-Auction
House $0.993m | Unit $0.760m
6.0% p.a. over last 10 years
Lifestyle suburb, popular with wealthy 2nd/3rd home buyers, families who value school options and amenities
Legal loophole allowed immediate subdivision; huge frontage; high end produce ceiling prices
Two large detached Hamptons Houses 37squares each
27 months from purchase to construction completion
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%