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We had 14 objections for our first scheme - so we had to amend it half-way through. We also encountered some problems with illegal sewerage easements etc but now it looks like it is all sorted. Really happy now.

Update Just got the permit / DA with minimal conditions on it. Now the easy part - the building permit!

Just an update - 12 objections after the end of the advertising period. Now the fun begins...

Very much so :)

Yes that is true. But East Melbourne (new) townhouses sell for $16,000 per internal sqm. Even if I get half of that, I make lots of money.

Some good results over the weekend. Sold for $3.3m: http://www.realestate.com.au/property-house-vic-east+melbourne-108376991 Sold for $3.1m: http://www.realestate.com.au/property-house-vic-east+melbourne-108586941 Sold for $3.275m...

**Just an update - Council has come back requesting more information. We are responding now and hope to have it back in town planning next week.

Finance per se isn't hard to come by - it's that the conditions of the finance are harder to fulfill. Most banks would happily lend for any commercial construction project as long as pre-sales cover 80-100% of peak debt. Pre-sales are so hard in this environment so most developers are just stuck.

Hi RedCat, Unions only get involved I think if the construction is 6 or more levels and/or is within the Melbourne CBD. As everyone has pointed out here, they are a big pain in the *** and I would never want to deal with those crooks. Yes I've seen that Lennox street place and it looks...

Yep that sounds about right. Should be less due to the volume I will order, and I think they're quite aggressive for business right now.

The large townhouses will have 4 bedrooms, 3 bathrooms, decking outside at the rear garden, open common-area courtyard, bathtub in the master bathroom, 2 car spaces, theatre room. Internal areas (not incl garage and balconies) is about 270-300sqm. Lifts don't cost that much to maintain and if...

I've done the whole slumlord thing too - doesn't mean I don't have good taste in luxury. But like I said you are entitled to your opinion and to question my rationale/reasoning because that's what this forum is about. While you are right in saying that Macquarie/bank executives are doing it...

Gen X executives looking for somewhere close to work, CBD, lifestyle, bridge road et al. Other main demographic would be the baby boomers who want to retire closer to the CBD and with lower-maintenance living. Basically the people who can afford the price I want.

It's ok sash - if you don't think I've made the right decision re my target market/area then you're welcome to your opinion. We'll just have to wait and see how it all unfolds 2 years from now. But if I have done it properly I sure as hell won't be dealing with median prices in Richmond - I'm...

Of course it's risky but that's the nature of the game. Key thing in development is whether you can hold...if you can't hold if an unforeseen delay occurs, you die and that's when the mortgagee steps in and cleans you out for all you have. Developers make money from both the increased value...

Those townhouses you are talking about are not comparable to mine (except the Riverside Richmond one). http://www.realestate.com.au/property-townhouse-vic-brighton-107546986 - Located right next to a train station. I don't know about you but if I was going to spend $1.5m I would not want to be...

I expect entire construction costs to be $8-9m so hard to say how much each one will cost. This will include the underground car park and landscaping. Yes each of the 8 large townhouses has an internal lift all the way down to basement level :)

Yeah it's great! Cost me about $1,600 per photo though!

Just about to submit to town planning so hopefully can build within 1 years' time!

Hi RedCat, they will be a small body corporate to clean the common garden and undergroudn carpark. But body corporate fees will be minimal.