26 Seddon St, Ivanhoe VIC 307926 Seddon St, Ivanhoe VIC 3079Price: $0.925m
Mark is a secondary school principal with a keen interest in property investing. He appointed us to find him a modest, low-risk development – one where he could keep a completed dwelling for himself, and sell the rest to lower his debt exposure.
This was the first property we recommend to him, and he recognised it as a stand out immediately. It was recently rezoned to the neighbouring suburb whose median $ house price was 22% higher. The ceiling price for new construction resales in this superior address was much higher as well.
We purchased it at auction using a 2-bidder tactic. The price we paid was slightly higher than it would have been in the old suburb, but much lower than you’d expect in the new suburb.
Following the purchase, Mark appointed us to secure a planning permit, and we did so prior to him settling on the purchase: two detached, double story, 4bed/3bath, street facing houses with level backyards and downstairs master suites. We tendered the build, and a good local builder was appointed. He completed construction in 11 months.
Mark sold one dwelling brand new, and kept the other as an investment property.
He had some very nice words to say about our service afterwards: “Property Analytics found the site, completed a comprehensive feasibility study, negotiated the purchase at auction (at a great price), and assembled a professional team that completed the project from end-to-end. I’d gladly recommend Property Analytics to someone thinking about getting into property development.”
Blue-chip, close to hospitals, shops, transport
665m2 slightly sloping irregular shaped corner
Uninhabitable
$0.925m
up to $1.0m
Bought At Auction
10 months
Uninhabitable N/A
Uninhabitable N/A
House $1.200m | Unit $0.720m
5.5% p.a. over last 10 years
Affluent demographic; proximity to key amenities; rezoned gentrifying pocket
Land value purchase price with long settlement. Easy planning, permit attained prior to settlement.
Two detached, double story, street-facing, 4bed/3bath houses, approx. 24 squares each
22 months from purchase to completion
$2.135m Turnkey
$2.700m
$0.565m
70%
26%
4.4%
$1.635m
$0.820m
$2.000m
$1.100m
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“Andrew is pleasure to work with and is great at his job. He is diligent, efficient and communicates in a timely manner. Very professional, trustworthy and importantly has sound judgement regarding property matters. Highly recommended.”
“It has been pleasure working with Andrew. Very experience and knowledgeable in the development space. We were able to secure a suitable development site very shortly after engaging him.”
“Andrew Stone has helped immensely with my first investments and developments in the Melbourne market. He marries a high level of industry expertise with commercial common sense and a practical approach. His understanding of the planning process is second to none and has helped to save money and time.”
“We would like to thank Andrew for his guidance on our journey to purchasing our home. Throughout this process, Andrew had been very patient, receptive and understanding of our needs, and responded to our questions without hesitation or judgement. We couldn't recommend him enough!”
“Every encounter with Andrew, regardless of what assistance I required, was one of honesty, integrity and efficiency. I would highly recommend Andrew and Property Analytics to friends and family without hesitation.”
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