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Blair
I just realized I hijacked your thread into a Hamilton hil/spearwood thread. Sorry
Maybe we should break into another thread.
Where are those mods when we need one?
Blacky
shhhhh myf!
in all seriousness, getting 10x at 75k land component with exclusive canal access....? how much cheaper can it get?
Dunno - they have been hanging around for ages. Might be worth a cheeky offer
Time to set up the Somersoft JVP - we can each have a holiday home on the canals.
Dunno - they have been hanging around for ages. Might be worth a cheeky offer
Time to set up the Somersoft JVP - we can each have a holiday home on the canals.
Slightly more southern hijack to Halls Head - yes peeps those canal side R40 blocks are still available - the best one with the 2 sides of canal has sold but the others seem to still be available.
http://www.realestate.com.au/property-residential+land-wa-halls+head-200603543
Let me think $750k for 1163 at R40 is 5 villa site - or of course apartments.
Cheapest development would be 5 of 3 bedroom single storey villas at $200k each so let's say 1m for that.
Roughly $1.9 for total project inc holding costs blah blah which is $380k each.
Value? Guestimating very very roughly but thinking more than $450. This is the closest comparable I could find http://www.realestate.com.au/property-house-wa-halls+head-109950376 which is $650k
Value add options:
- density bonus for over55s - you need to build at least 5 and then you get a 50% density bonus. This would allow you to build 6 maybe even 7 on this site for the over 55s.
- apartments. You can build 698sqm of apartments which could be:
- 7 of 3 bedroom apartments
- 10 of 2 bedroom apartments