Purpose of Purchase: Development
Property Type: A single Lot of 809msq with ability to subdivide to create two lots of 405msq.
Existing house was rentable whilst waiting for DA approvals
How this purchase met the clients brief:
- Joint Venture Clients desired a well located property suitable for subdivision and furher build of two home.
- Needed to be a low degree of difficulty for 1st time developers
- Needed to demonstrate high end value of quaility builds.
- Desired no less than 15% return on project
This property was situated in one of the best avenues in the Suburb. As the property was only on a single 809msq lot we needed to do a full subdivision but it was a very clean block so very low degree of difficulty to achieve project outcome.
Because of elevations both new buildings would have potential of City Views.
A great starter project for budding developers.