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Earthwork being done this week to create the sewage easements. Progressing!

It took a while due to the high specifications. We got a huge fluctuation of quotes with a 40% range. Also we weren't happy with some of the joinery on our preferred builder so we had to get a third party involved.

Signed building contracts today (finally). Work should begin on-site in the next week or so. Local market has done extremely well so looks like we should be able to sell these for a good price when the are ready.

It is a JV 50/50 with a business partner of ours via a unit trust. Construction we expect to go for about $2,500 per sqm, the most expensive part being renovating the existing Heritage dwelling given the state of it. The new townhouses are circa 210 sqm + double garage + outdoor living + rooftop...

Oh, plenty of reasons....we got about 15 objections, town hall was full of people and we saw it getting pretty political. Would probably have gone to VCAT which is not what we wanted. Also commercial reasons as building 7 units is a lot easier than 12, particularly if there is no basement...

update 2 6. Front of natural timber townhouse: 7. Front of dark timber townhouse:

Update I thought I'd update this thread - we got the planning permit after modifying our initial design to 7 units rather than 12. Updated pics below: 1. Heritage Dwelling that is to be restored with a modern extension: 2. 6 townhouses to be constructed at rear with high-end specs and...

Yes we are renovating it. Too much hassle with heritage to try and knock it down (and it will look nice when it's re-done anyway)

You're right - it would be far more difficult to sell than a normal $900,000 townhouse just based on the price alone. But I am not comparing my properties to the random 150sqm townhouse next to the Housing Commission. There were two sales of townhouses (7a & 7b) literally just around the corner...

All parking is underground in the basement, it's not shown in the plans because I don't have the archicad version (2 carspaces each). There will be a soil zone for the plants above the basement (can't remember how much exactly but sufficient for trees). And yes, it is in the same Richmond as...

I've contemplated going for the cheaper option but given that the location of the property is in Richmond Hill (the premier part of Richmond), I think that going for a superior product is the way to go. You don't often hear about $2m+ houses in Richmond as you have pointed out, but that will...

Hoping to sell the large ones for $2m+ but will be seeing the agents soon. Benchmark is a new development near IKEA - http://www.riversiderichmond.com.au/ they want $1.9-$3m. I've considered doing apartments but it would be far more difficult to get approval due to the heritage overlay and...

Probably going to go with conventional timber frames, but haven't decided on the external material yet. The interest payments will be capitalised to minimise negative cashflow, and as for percentage return - well hopefully I'll get more than 40% return on costs but it's hard to say at this stage.

My development in Richmond Hi everyone, I have posted before regarding my own townhouse development (12 units) in Richmond, Victoria. Just thought I'd post up a few pictures of what the townhouses are going to look like as we are about to proceed to town planning, as quite a few people here...