26 Seddon St, Ivanhoe VIC 307926 Seddon St, Ivanhoe VIC 3079Price: $0.979m
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
$0.978m
up to $1.050m
Off-market with highly motivated sellers
10 months
$550 /week
2.9% gross
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
$0.180m
43%
15%
On-sold N/A
$1.635m
$0.820m
$2.000m
$1.100m
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