Needed Joint Venture partner / Investor to Build 3 Houses on Sub Divided land

[websa]

Hi, after an investor for a sub division project in Klemzig SA.

Was trying to sell House and land packages, but this has not been successful, as buyers need to see the finished product with these house as they are long and skinny.. 6m frontage.. 55m deep block..

Here is the link to the sale page. http://www.realestate.com.au/cgi-bin/rsearch?id=105611965&a=qfp&cu=fn-rea&t=res

I can't get the finance to do the build, but there is a decent profit in this if it can be done - around ($100k)

Current build price is about $171k per house. (3)

If anyone is interest or wants more details please let me know

 

[Gools]

Websa, I would think that build cost is a little high. What floor area are they?
We're building just around the corner and are building them for $160k including single garage and ducted reverse cycle AC.

What is the cost of each block including division costs and what do you expect the finished product to sell for?

Gools

 

[DreamBig]

Hi, after an investor for a sub division project in Klemzig SA.

Was trying to sell House and land packages, but this has not been successful, as buyers need to see the finished product with these house as they are long and skinny.. 6m frontage.. 55m deep block..

Here is the link to the sale page. http://www.realestate.com.au/cgi-bin/rsearch?id=105611965&a=qfp&cu=fn-rea&t=res

I can't get the finance to do the build, but there is a decent profit in this if it can be done - around ($100k)

Current build price is about $171k per house. (3)

If anyone is interest or wants more details please let me know

I don't mean to be rude, but I think you have been a little too greedy in terms of your development. I mean 6m frontage?? I dare say this is why you haven't sold any to date.

 

[websa]

Websa, I would think that build cost is a little high. What floor area are they?
We're building just around the corner and are building them for $160k including single garage and ducted reverse cycle AC.

What is the cost of each block including division costs and what do you expect the finished product to sell for?

Gools

Hi, they are about 148 square meters each not including carport. Land size is 328 Sq m each.

That $171k price is from Homestead. World Concept quoted $180, Oakford $185k,

What builder are you using?

Cost price of each block sub divided is about $185k each.

Expect the houses once complete to sell for around 400k each.

 

[websa]

I don't mean to be rude, but I think you have been a little too greedy in terms of your development. I mean 6m frontage?? I dare say this is why you haven't sold any to date.

They are actually quite normal sized houses they are just laid out differently.. Its just the fact people can't imagine it being normal inside.. once they are built people could see...
If you go and measure your lounge rom now I bet it is only 4 or 5 meters wide if you have a standerd size house.. . . it would be the same in these.. its just the perception of the whole 6m thing that is stopping selling....

 

[Pablo]

Hi,

I think the bedroom at the front is an interesting idea but whats with the dinning room in residence A, I mean 2m wide and it also has to act as a walkway as well. I really hate it when something tries to get passed of as something its not.

 

[RumpledElf]

That dining room A is unworkable. C is by far the best. A and B both have *extremely* narrow master bedrooms as they are missing a WIR.

And I don't like the room at the front - otherwise, a reasonably traditional single fronted cottage design with modern ensuite/WIRs could have worked, with the carport at the front unless there was some pressing reason there HAD to be that weird room in front of the carport?

I had a single fronted cottage back in the day the same width as your three there, and I've seen quite a few single fronted cottages and narrow duplexes done quite well. These would work really well and sell fast in a really high density suburb like North Adelaide, Bowden/Brompton, Norwood, pockets of Unley etc but you're further out in the suburbs - not too far out, but still far out enough people expect a nice wide house.

Honestly, like other people have said, why did you go for so many? You should have just gone for *two* ...