Building a duplex Melbourne (maybe)

[perthguy]

I was going to buy my next PPoR/IP in Perth, but since prices have spiralled out of control, I have had to re-evaluate my options.

I am now investigating developing one of my sites in Heidelburg Heights in Melbourne, perhaps to build two townhouses something like this:

http://www.realestate.com.au/property-townhouse-vic-heidelberg+heights-115932691

http://www.realestate.com.au/property-townhouse-vic-heidelberg+heights-115735791

Unit 1 - $500,000 Plus Buyers
Unit 2 & 3 - $430,000 Plus Buyers
Unit 4 - $450,000 Plus Buyers

This is quite an interesting case study for me. The original house sold for $807,500 in 27 Mar 2010.

http://house.ksou.cn/p.php?q=Heidelberg+Heights&sta=vic&id=38987

I have a builder lined up to talk to when I am Melbs in March to find out my options and build costs. Will be interesting.

 

[imbi3]

what would be the value of the site now?

 

[perthguy]

what would be the value of the site now?

Maybe around $600k?