Contact Us 0418 293 575

Success Stories

2 Villa Duplex Development

1
6
3
4
2
5

Equity Created: 
 

The project ended with an equity result of $106,898 after the project management fee.

 

Rental Returns 
 

The 2 villas are leased for $380 per week each:

Total rental return (in 2013): $760 per week or $39,520 pa

Gross Yield: 7%

 

The land for this development was purchased in January 2012. The purchase price was $150,000. The low price was because the land was undermined. This meant we had to have specially engineered footings and foundations all approved and guaranteed by the Mine Subsidence Board. After approval of the plans and inspection of the building process which involves Pot Hole Footings, the Board will guarantee the structure for life. This property was carefully chosen for the client by Property Bloom™ for development for two main reasons:

  • The land was large enough for a duplex development.
  • The location. The land is situated in a new land estate within walking distance to a major shopping centre. This location is highly sought after due to it’s proximity to shopping, transport and the best private school in this city.

·      

Internal living area of three bedroom, two bathroom villas: 112sqm

 

Total Project Cost, including land, DA, CC, build cost and subdivision:

$575,541

 

Final Valuations in 2013:

Villa 1:

$370,000

Villa 2:

$370,000

 

Total:

$740,000



 

Get our Free Newsletter and Development Site Alerts.

Don't worry we'll keep your details private. The only thing we share is our knowledge.

Enter your email address below: