Balga R40 site - Suggestions please

[rooky]

Hi All,

I am looking for your suggestions and help. This is my second development so still learning...

I have purchased 89 Rochester Circle, Balga WA. Its zoned R40. So i can either put 3 single storey units or 6 2-bedder appartments.

Looks like there is more profit, if i go for apartments but i do not see anyone doing it in Balga. I am wondering there is enough market for such aparments in Balga or not.

Also, i am looking for some suggestions regarding which builder i should use for either 3 units or 6 apartments. If someone shares their cost with this kind of development, that will be very helpful.

 

[D.T.]

Hi All,

I am looking for your suggestions and help. This is my second development so still learning...

I have purchased 89 Rochester Circle, Balga WA. Its zoned R40. So i can either put 3 single storey units or 6 2-bedder appartments.

Looks like there is more profit, if i go for apartments but i do not see anyone doing it in Balga. I am wondering there is enough market for such aparments in Balga or not.

Also, i am looking for some suggestions regarding which builder i should use for either 3 units or 6 apartments. If someone shares their cost with this kind of development, that will be very helpful.

You didn't consider feasibility prior to purchasing?

 

[Blacky]

You didn't consider feasibility prior to purchasing?

Might explain why its so hard to get a perth development site in the current market which will hit targets...

 

[westminster]

Hi All,

I am looking for your suggestions and help. This is my second development so still learning...

I have purchased 89 Rochester Circle, Balga WA. Its zoned R40. So i can either put 3 single storey units or 6 2-bedder appartments.

Looks like there is more profit, if i go for apartments but i do not see anyone doing it in Balga. I am wondering there is enough market for such aparments in Balga or not.

Also, i am looking for some suggestions regarding which builder i should use for either 3 units or 6 apartments. If someone shares their cost with this kind of development, that will be very helpful.

There are some upcoming apartments in Balga on quite a few sites.
Depending on the price you paid for your block I would be guessing that profit on 3 villas would be very small.
6 apartments though will need a commercial lend and probably presales and is a very different kettle of fish and a lot more complicated getting through council etc.

Check the sold section of realestate.com.au for the apartments which have sold off plan (presales) for Balga

 

[Aaron Sice]

3x villas at 100sqm living each plus garage etc.

You will get six average 65sqm ish 2x2s otherwise. Very easy to design either to work cheap and effective.

You should be able to move a 2x2 OTP in that part of balga for $349k. A villa...not sure. $419k? re.com.au will tell you more.

 

[rooky]

You didn't consider feasibility prior to purchasing?

I did consider it but for 3 villas. Apartments are totally new for me.

 

[rooky]

3x villas at 100sqm living each plus garage etc.

You will get six average 65sqm ish 2x2s otherwise. Very easy to design either to work cheap and effective.

You should be able to move a 2x2 OTP in that part of balga for $349k. A villa...not sure. $419k? re.com.au will tell you more.

Thanks Aaron,

Do you have any idea how much 6 apartment construction will cost? I am only after ballpark figure.

 

[rooky]

There are some upcoming apartments in Balga on quite a few sites.
Depending on the price you paid for your block I would be guessing that profit on 3 villas would be very small.
6 apartments though will need a commercial lend and probably presales and is a very different kettle of fish and a lot more complicated getting through council etc.

Check the sold section of realestate.com.au for the apartments which have sold off plan (presales) for Balga

Hi Westminster,

Thanks.
I could not find any apartment sold in balsa on real estate.com.au. Not sure if I am missing anything or not.

 

[Aaron Sice]

about 145k ea turnkey for a basic build plus sites / headworks etc.

can get up to $180k with just higher spec changes so pays to be smart with construction design.

 

[westminster]

Hi Westminster,

Thanks.
I could not find any apartment sold in balsa on real estate.com.au. Not sure if I am missing anything or not.

Ah you might not be missing them. I suppose as they were off the plans sales they won't have settled yet so they might not be in the sold section.

From recollection the prices were pretty good for 1 bedders and 2 bedders.