Cost of building 5 x 3BR townhouses?

[charlesemilio]

Gday All,

I stumbled across a 1500sqm suburban block in Melbourne's east many moons ago and im now deciding whether or not I should sell it and take the profit or go ahead and try my hand at some property development

My question is (and it may be unanswerable/stupid):

How much roughly would it cost to get 5 x 3bedroom townhouses put up on it (construction/building side only)??

I know costs can vary greatly, but before I go ahead and speak to an architect I would just like to get a rough idea in my head.

If any one can provide any good advice for a 1st timer that would be appreciated greatly

thanks for any help

 

[PrimeCommercial]

Big differences in prices, but I'd say anywhere between $1500-$2500 sq/m. So for a 150m2 3b townhouse your looking anywhere from $225k-$375 each.

 

[TheCamel]

there's actually a whole series of articles in API about small developments...

 

[ml320]

if it's a basic design it should cost you about $900m2 - $1000m2 it all depends on inclusions. we build several homes around Melbourne and that is the average price. Of course this can go way up and again it all depends on inclusions / fixtures.

Thanks
LK

 

[Land]

Cheap building in Melbourne?

That seems really cheap. Is it just the buiding or everything necessary to rent the place (i.e. landscaping, floor coverings, air con, blinds etc)

We're about the build a duplex and got 4 different quotes, and the cheapest came in at about $1300 per sqm. That includes everything right down to the blinds. The quotes went upwards from there......