Hello, I'm new to the forum and have a question regarding our only property.
It's 820sqm just North of Brisbane on high ground, before Newmarket St. We have approval and a nearly completed DA for 14 units at a GFA of 1.5 .
My question is this, do I develop myself (my family will live with my mum during construction - and I can take time off work), do I sit on it or sell to a developer.
We are in a position to develop, it will involve a lot of work - but we can get access to the cash. And personally I work in project management so I can overview some processes to save on some costs. Total build cost including taxes, levies, permits etc is about $3 mill. From what I understand I selling each unit will yield about $6.5 - $7 mill. If sold promptly.
However - I'm not sure of the stability of the brisbane market. One professional insists the market is dropping, another it's rising. ie will people actually buy the units?
Selling to a developer, this is an option, but I'm not sure of the processes and/or where to find and approach them?
Any thoughts and I ideas welcome.
It's 820sqm just North of Brisbane on high ground, before Newmarket St. We have approval and a nearly completed DA for 14 units at a GFA of 1.5 .
My question is this, do I develop myself (my family will live with my mum during construction - and I can take time off work), do I sit on it or sell to a developer.
We are in a position to develop, it will involve a lot of work - but we can get access to the cash. And personally I work in project management so I can overview some processes to save on some costs. Total build cost including taxes, levies, permits etc is about $3 mill. From what I understand I selling each unit will yield about $6.5 - $7 mill. If sold promptly.
However - I'm not sure of the stability of the brisbane market. One professional insists the market is dropping, another it's rising. ie will people actually buy the units?
Selling to a developer, this is an option, but I'm not sure of the processes and/or where to find and approach them?
Any thoughts and I ideas welcome.