Advise On Costing Small Development Please

T

.toe

Can knowledgeable people please comment on the likely cost to build this project.

It's in Ballarat (3km from CBD) on a main road next to a school & bus stop, with similar developments all around it. Suggestion from one draftsman is to build 3 x 2Br units on it, & he suggests using $1300/m2 as a build cost guide. Is this reasonable in Ballarat, and is it a reasonable way to cost building at this early stage of feasibility?

Also would that figure include everything, driveways, connections etc etc?

If this shows that it might be a goer, I was thinking that I would have initial drawings done & have a quantity surveyor cost the project, is that the way to go?

Any other voluntary advise on this subject most appreciated as I'm a newb to small development.

Cheers.
 
I'm not too familiar with build costs in the area, but it would help if you could advise if they are 2 storey units and what level of finishes you intend.

Cheers,
Matt
 
Thanks for the thought Matt. They are single story, average finish, something that could span rentals & or sales. There would probably be ajoining walls. 2br, 1b, 1c. About 125m2 to 130m2 each in building space on a 670m2 block.
 
.toe said:
Thanks for the thought Matt. They are single story, average finish, something that could span rentals & or sales. There would probably be ajoining walls. 2br, 1b, 1c. About 125m2 to 130m2 each in building space on a 670m2 block.
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Drive around some of the estates and identify local biulders and have a chat to a few. I develop in another regional Vic area and it costs me around $12k a square.
 
oc1 said:
Drive around some of the estates and identify local biulders and have a chat to a few. I develop in another regional Vic area and it costs me around $12k a square.
Click to expand...

Thanks for that, yeah I think it's a good idea & builders seem to be active there at the moment.
 
That's great Player thanks, a guide is what I need right now but I will talk with builders also.

When you say a turnkey product, I'm guessing some small developers will have a project manager (maybe the designer etc) to cross-check the builders work against the plans, double check permits, progress payments etc, and that those with a bit more experience will do this themselves. Would that be right? Is this a difficult process or is it really a matter of following a checklist?

Player said:
This table may also help, using the regional loading:

http://www.bmtqs.com.au/ConstructionCostTable.aspx

It's only approximate. Oscar's advice is good. Have a drive around and speak to local builders and get an idea of quality of finish that you'll get away with and likely costs for a turnkey product.
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By "turnkey" I mean finished and ready for occupiers to move in, be they tenants or the new owners.

The amount of project management will depend on what you come to agreement with the builder and your drafting or architect personnel.

Have a good search of the Adding Value sub forum and especially read threads from Rockstar and Sheryn amongst others. You will learn from theeir journey. You would still want to check on the process from time to time. You aren't that far from Ballarat, that distance should preclude you seeing how it goes ;)

Please post your development story. I have a small block in Black Hill about 1 km from the hub. I should do something about that........... :eek:
 
Thanks again I will have a look at those threads. It seems small block development is moving along in Ballarat lately so Black Hill would definately be good.

Player said:
By "turnkey" I mean finished and ready for occupiers to move in, be they tenants or the new owners.

The amount of project management will depend on what you come to agreement with the builder and your drafting or architect personnel.

Have a good search of the Adding Value sub forum and especially read threads from Rockstar and Sheryn amongst others. You will learn from theeir journey. You would still want to check on the process from time to time. You aren't that far from Ballarat, that distance should preclude you seeing how it goes ;)

Please post your development story. I have a small block in Black Hill about 1 km from the hub. I should do something about that........... :eek:
Click to expand...
 
Hi .toe
I really like the http://www.bmtqs.com.au/ConstructionCostTable.aspx link.
this guide is fabo, and reasonably accurate.

If you need a design or plans, or would like to discuss the opportunities of your site.I would be very interested in coming and having a look.
I can provide full architectural services, or just the set of documents for building. I am flexible either way.
 
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