Opportunity....?

May be an oportunity for someone in Perth.

This Saturday 22 Aug at 1pm there is an auction at

39 Windsor Rd Perth.

it consists of an 1000sqm site and the 550odd sqm site immediately behind - all zoned R60.

situated right between ME Stadium and East Perth Train Station.

so what i hear you ask?

well, i drew the original DA for 7 units - all single storeys.

HOWEVER

i'm DAMN certain it's an 8 unit site with 2 storey units if you amalgamate both sites. see lot 202 pdf attached,

i have a contact in Perth Precast to help out with some cool inner city designs because, after all, we ARE talking a 6000 postcode here :cool:

i even know the reserve - $1.8mil.

might be a good propertunity for someone. i honestly believe you could get $650k for a complete unit, and with a $1.8mil land purchase, i reckon there's a solid $1mil profit/equity in it immediately.
 

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well, i drew the original DA for 7 units - all single storeys.

HOWEVER

i'm DAMN certain it's an 8 unit site with 2 storey units if you amalgamate both sites. see lot 202 pdf attached,

I drove past it tonight on my way home as its just around the corner and I was curious.

On the sign is says its a 9 unit site. Looks like a huge area!!

Its the street just before the lord/bulwer (Summers) intersection (members equity stadium) Off Lord Street and just before Summers Street.
 
nah Kim - definitely NOT a 9 unit site.

technically it's a 9.4 unit site in the maths - but always drop a unit and a bit for common property.
 
nah Kim - definitely NOT a 9 unit site.

technically it's a 9.4 unit site in the maths - but always drop a unit and a bit for common property.

oh ok...... just stating what i read on the sign.

ohhhhh now i see what you mean! Its a 9 unit site but that includes room for the common property. I see. So they dont have room to build 9 . aha
 
yeah 1698 / 180 = 9.4.

common property 4.0m wide and 75m long = 300sqm.

1698 - 300 = 1398

1398 / 160 = 8.7.

8.7 units @ R60.

you'd need a passing bay at the front and 2x visitor bays to add to the CP outside these figures, so it's a definite 8x unit site.
 
typical agent...

yeh mate 9 units. whack a townhouse on each for $150k and you'll clear a huge profit. just sign here and here! do yuo want help with selling the end product?

3 years later and 0 profit.... "ah gees it's a tough market, it's not me telling you they aren't worth it - it's the market" and "the units are a little tight and people prefer [insert some nearby dwelling style] and they want double garages and massage chairs in the baths"
 
typical agent...

yeh mate 9 units. whack a townhouse on each for $150k and you'll clear a huge profit. just sign here and here! do yuo want help with selling the end product?

3 years later and 0 profit.... "ah gees it's a tough market, it's not me telling you they aren't worth it - it's the market" and "the units are a little tight and people prefer [insert some nearby dwelling style] and they want double garages and massage chairs in the baths"

...summarily crushing the hopes and dreams of many budding developers with the harsh realities as lived through by a current developer.

Pray - what is the solution ??
 
lol Dazz - yours was research into warehouse fire safety, shire regs, who could actually build it, $-sqm rates, then a full blown concept plan complete with accurate parking, lifts, fire escapes, vehicle manouvering, truck manouvering, pedestrian access, driveway gradients, surcharge retaining......

........basically, it was a row of dimensions and set of elevations off being full scale working drawings!!! :)

but yes - a bill for something that doesn't go ahead is always hard to swallow. trouble was with yours, we couldn't just say "oh it'll be about *blah* sqm of office and *blah* sqm of warehouse" because we had to make sure we could accomodate parking and all the regs to go with it.

with units, it's just average land component, then minus CP area, then divide the remainder by the minimum lot size and *ding* - half your DD. it's "calculator over the phone" stuff.
 
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