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Due to the closing of Somersoft this thread is being continued at Property Chat https://propertychat.com.au/community/threads/north-perth-wa-6-apartments.525/

Settlement was 2 weeks ago and new tenants moved in last weekend for $500/wk. I only had 7 days of it being empty so that was pretty good news. I have also had a change of heart about the new development. We are going to try and put 6 apartments of 2 x 2. I have the blessing from my...

Tenants are rarely an issue during that time as long as you have proper leases in place so when it's demolition time you can give them the proper notice to vacate. My concern was that only 2 of the tenants had bonds and those bonds were only 1 weeks rent. Even if I'm demolishing the house I...

And Design work starts next week on these - yay!

Update: Slight hiccup due to some a few tenancy issues - no bonds, no property condition reports, incorrect leases etc. I gave them the choice of fixing or delaying Settlement and they give notice to Tenants to vacate. They chose getting rid of the tenants so that means they need to give...

faaaaark!! I went to the home open on Saturday and it was packed! Even weirder choices in person - there is no door/gate/security at the garage, essentially its a carport with a gap at the side you walk through to get to the internal carport door aka entry - kitchen layout wasn't...

That is truly fixable. I don't know why they didn't. The bathroom upstairs is better than the ensuite - big no no.

I just had a WTF moment when looking more closely at the plans. Somehow on the 1 bedroom design which has 2 bathrooms the ensuite has the basin OUTSIDE the bathroom http://www.realestate.com.au/property-townhouse-wa-north+perth-117345979

Darn it, can't edit the first page If I go with 460 sqm of apartments and grandiose plan of REALLY nice big 3 x 2 them approx numbers is - land $620k inc stamps - construction inc headworks blah blah $1m (based on 460sqm construction) - holding costs nil (this is a SMSF purchase with no...

Love your work! Thanks for pointing those out for me - its been a busy week so I haven't spent much North Perth surfing this week. It's a very interesting concept. As they are townhouses it's a little hard to compare but I like the specification level. It's good to see that a main street...

It's probably 2km which is pretty big in terms of inner city scale but still interesting to see good prices for 2 x 2s when I'm building 3 x 2s

Just having a peak around at new comparables coming on to market $609k for a 2 bedroom, 2 bathroom 1 carbay apartment on Fitzgerald http://www.realestate.com.au/property-other-wa-perth-117244283 70% of development already sold!! Location is better as it's closer to the city but...

Well as soon as our deposit cheque clears we are unconditional and set for settlement on 9th July. The REA wouldn't take down the listing as we asked for 20 days to do deposit (money in a term deposit). So it's still be up there - unsurprisingly she's been getting a lot of interest in it. Nah...

That is actually 2 apartments for another project I'm doing - the block is a similar width but different shape and not as long as Charles St project is. All grouped dwellings and apartments need to provide 4sqm of storage for each dwelling. The other storerooms are on the ground floor with the...

An interesting comparable for a 3 x 2 apartment on Charles St $565k in Feb this year. http://www.realestate.com.au/property-apartment-wa-north+perth-115970883 Certainly not the most attractive inside - showing some signs of aged interior design ideas though it was only 2006 when it was...

It was just a very rough approximation of $2000/sqm and needing 350sqm of construction. It's likely I'll go over that if I get the 1.0:1 plot ratio as I'll make it bigger.

Correct :D I'm hoping the 1.0 will go through - though I can manage at 0.7 fine if it doesn't. The 1.0 just means that I can make it bigger if I want and stop the 'over developed' attitude I'm currently copping as I might only use 0.8 and then it's easy to defend 'not over developed'

Sooooo if I never strata and hold them all and they reverse the easement I get to keep it?

For sure!! I might not be able to build on it but it's all mine until some govt dept buys it off me.

Thanks - done. I don't think it has and as my title easement suggests I am obliged to give up 3m should they ask for it and therefore have to build that in. It will be one of those cases where the easement will remain until they eventually decide what they want to do. They might not widen...