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Thanks, makes sense.

Starter & Mattnz - not being argumentative here but I would like to know why you would work off current sale price of the property as opposed to the price paid when doing the feasibility. I know nothing when it comes to developments so am interested to find out the reasoning.

I may be missing something here but at the start of your post you said that you purchased the property in 2005 for $190k then in your costings you have a $350k land value. I'm reading it as you paid $190k in 2005 but you're also adding today's value of the land into your costings even though...