Attn Developers: let me know of small dev's in Melbourne

[Belu]

Hi all,

If you are on here and are doing a small dev in Melbourne for units/flats/townhouses over the coming months then let me know.

Thanks to KRudd I have the ability to be searching for either a new build or an existing in melbourne with an increased deposit.

Therefore if you are doing something let me know (via PM) and we will see if the deal can work for the both of us.

Cheers

Ben

 

[MichaelW]

Ben,

Shame you're not looking for Sydney...

I've been thinking about running an ad in my local paper for a pre-sale, deal direct with the builder and I'll pass on the $20K REA fee as a discount to the buyer. That, plus $21K FHOG for a new build makes for a pretty good discount.

Might have to get around to doing that this week. A single pre-sale and I'm off to tender.

Cheers,
Michael

 

[Belu]

this is true mate - especially for the type you want to build it would be very appealing to a FHOG who doesnt want to compromise on their level of comfort.

So yes, any melbourne people out there drop me a line.

Of course it all comes down to the figures but you never know.

 

[tcocaro]

Let me know how you go with that I am starting pre-sale marketing in two weeks for a site in Brisbane.

Only 1 pre-sale? Is it a 4 townhouse site or something?

Have you tried alternate options for pre-sales - just wondering.

Either way good luck with it.

Ben,

Shame you're not looking for Sydney...

I've been thinking about running an ad in my local paper for a pre-sale, deal direct with the builder and I'll pass on the $20K REA fee as a discount to the buyer. That, plus $21K FHOG for a new build makes for a pretty good discount.

Might have to get around to doing that this week. A single pre-sale and I'm off to tender.

Cheers,
Michael

 

[MichaelW]

Let me know how you go with that I am starting pre-sale marketing in two weeks for a site in Brisbane.

Only 1 pre-sale? Is it a 4 townhouse site or something?

Have you tried alternate options for pre-sales - just wondering.

Either way good luck with it.

Mate,

I'd be interested in any options you might know of that aren't the usual REA angle. Its only a 3 unit site. The actual rental yield on costs at completion would be 6.8% fully let so its pretty low risk in the current environment, but a single pre-sale makes it a done deal.

Cheers,
Michael

 

[eternit]

If you guys are selling units in Sydney or Brisbane which would easily get a yield of 7.5%+ then I would be very interested and you can pm me

 

[Sammy-K]

So you are looking for development opportunities atm or are you looking to sell new developments?

I have a 4 Townhouse site (13.5sq +16m2 terraces- each in size) in the centre of Dandenong that currently has a very nice house on the block...

Also a 4bed family home. 853m2 site in Eumemmerring- 3 single-story unit site that i might also be intrested in selling. im looking at least 320k, so pre-development it has a rental yield of 5.2%-preety good for Melbourne and also considering it is a development block its a good return.

can you give us a bit more details if you are selling or buying development blocks? sorry i found you initial post slightly confusing...

 

[Player]

Sammy-K,

is your Dandenong site approved with plans and permits or merely at planning stage without development approval?
How far from town centre/train?

 

[Belu]

i am open to both development blocks or new developments, depends on the specifics of the block

what is the rental in dandenong?

cheers

 

[Sammy-K]

The house and block are in Hopetoun street, about 300-400m from the train station and in a central spot. If i sell ill sell permits with the contract. Town planning permit should be ready witin 2 months and the construction should be started by Oct. 2012 and completed 2014 by the latest. Im looking at $110k per unit site including permits (440k total). Rental of the current rennovated property on the block should be around 350p/week. Once built id expect each townhouse to sell around $350-370k in current market prices. Construction i have been quoted by one builder if i get my own owner builder permit is 600k and it should sell for at least 1.4-1.5 mil. There is definetly potential here, but i cant get such financing and hence the reason im selling.

 

[Player]

Thanks for sharing Sammy-K

If those numbers are accurate.....are you having trouble with servicibility holding the site now as is at that return (or potential return as you state the current reno'd property SHOULD rent for around 350 p/wk)?

Why not hold it if you can. You've got four years to start construction. Your financing situation may change and in that time council may have gotten underway with their vision and works for the CBD, hence adding more value to the site and the end product.

Also does the 600K build cost you've indicated include everything...driveways, landscaping etc, i.e: a turn key product? If not, isn't 150 K per townhouse a bit rich for that area?

Again thanks for sharing and as this is caveat emptor, the further questions are aimed at providing more info for anyone here doing DD or looking at taking on such a deal either solo or as a JV.

 

[Sammy-K]

Yes you could easily build it under 600k, but this is through a builder that includes everything inc. landscaping, painting, appliances- everything top quality.

 

[Player]

Yes you could easily build it under 600k, but this is through a builder that includes everything inc. landscaping, painting, appliances- everything top quality.

Sammy-K,

I have sent you a PM.

 

[patrickl]

RE: Development Opportunity in Melbourne

Hi Guys

Just want to let guys know i have a 4x townhouse development opportunity at Mt Waverly. The estimated returns is 25-30% and the initial outlay would be approx 85k. Require 2 more investors to take up the remaning units. Please email me at [email protected] for more details.


Cheers

 

[Sammy-K]

I have listed my 858m2 Eumemmerring site (between Hallam, Dandenong and Doevton) now with an agent if anyone is interested- keep the house build one new single storey unit at the back or 3/4 unit/townhouse site, no easements. An older house in the same street on number 9 has just been rented out for $320 pw or you can rent it as a boarding home (2 tennants already in place) for $520pw- you pay gas,water and electricity for 4 people. Also a 5th room can be made (for extra cashflow), as it was before...since the living room is huge. Hard to find better return on such a big development site.

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=47092104&s=vic&tm=1228194614

 

[pi2012]

My apologies if thisis off the track.
I am looking for a Builder in Melbourne who could build our 3 unit Development in Ivanhoe area.
I have been quoted $700,000 plus for such a development and i am finding it to costly for such a type of development we are doing.
Attached is the Site Areas.
Any help is much appreciated.

 

[frayli]

Hi, I am also after a small dev block in Melbourne pref north of watsonia near plenty road, I am after 400m2 for a 20 square home. If anyone has anything they were thinking about splitting up give me a yell and we may be able to work something out.

 

[prandsa]

I'm with eternit - if anyone is building some units where I could pick up a 7.5% yield let me know!!

 

[morty]

Hi Guys,

I've actually got a development due to start end of this yr with completion end of 2010 in Brunswick 3056. It is a small development (9 apartments) with a combination of 3, 2 and 1 br apartments, all with courtyards or balconies. All apartments have a secure, basement carpark and will be finished to a high standard.

We are a small development company and have decided to offer these up for private sale before we take them to an agent. PM me if you are wanting further information.

Cheers
Morty

 

[prandsa]

PM sent!!!