2-3 Townhouse Development in Camberwell or Glen Iris

[danl]

Hi Guys,
I am looking for some advise on building 2-3 brand new townhouses in Camberwell / Glen Iris area.
I've got about 1.2mil equity in my current house which I am planing to sell and use that money to purchase a corner block land.

Land would be aaround 800m2 which I would than subdivide and build 2 brand new 4 bedroom townhouses on it.

The plan is to keep one townhouse to live in and sell the other one.

Has anyone than something like this and does this sound like a viable plan.

Rgds
Dan

 

[Aaron_C]

As long as the numbers work!

 

[devank]

Do you already have the land or you need to source it?

I thought you could build more twonhouses in a 800 sqm land just 2 or 3.