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Andrew are you sure you can demolish that building? It looks to me like a building of heritage significance. I'd also be very worried about having that stream close by - this generally means higher engineering costs etc. You may need to have retaining of the blocks if there is any slope to...

There can be little things that all add up. For example today oc1 mentioned that due to rock on his site it has taken 3 days to dig trenches for storm water when normally it would take 1 - and this was in a brand new subdivision where you wouldn't expect the land to be so rocky as usually nice...

IMHO estimating sewerage and stormwater connections is very dangerous. I know here in Perth subdividing can be very expensive and electricity and sewerage are per extra block and can really add up. If you are proposing this be a business venture with you (and you getting the managers cut)...