Perth Duplex Development

C

CharlieT

Hi All,

First time poster and potentially a reluctant property investor.

We?ve recently purchased a 1012sqm (zoned R20) property in Perth with an initial intention of building a family home whilst preserving the ability to subdivide in the future. For a number of reasons we?re now contemplating developing this property and will more than likely hold the property for rental yield.

Can someone please provide a rough guide on the cost of building a 3*2 and a 4*2 duplex pair? I understand that there is a wide variation in costs, but we're contemplating something of average quality with some nice touches (i.e. potentially stone top kitchen). An unfinished house cost would be sufficient, as we already have a feel for finishing, subdivision and site work costs. Does anyone have a view on the prospect of developing side by side rather than the typical battleaxe development (20m frontage)?

There is a current rezoning proposal before council which would see the zoning change from R20 to R25. My basic understanding of the R code is that this does not change the prospects of the site (i.e. only a duplex site). Is there anyone that can confirm my understanding?

Thanks in advance and thanks for all of the other great tips on here!
 
R25 with 1,012m2 is still only a 2 unit site as you need an average site area of 350m2 for R25, and a minimum of 320m2 (after taking out common propert for driveways etc)

What area is it in?
 
Hi and welcome

R25 would be average 350 and minimum 300sqm.
So in theory 1050sqm site but would be worth looking into further for triplex.

Costs would be roughly 150k-200k for 3x2 and 200-250k for 4x2 depending on spec etc.
 
Apply the 5% variation to the average and maintain your minimums to get a triplex at R25.

Why 3x2s? You should be able to to 4x2s across all of them.
 
Thanks all.

Further thinking is required. The property is in Bassendean, so no definite timetable or outcome on the zoning change. It's an interesting dilemma, wait and increase holding costs or proceed with development and kick myself in twelve months on a missed opportunity.

Assuming we went down the duplex path,There aren't many side by side developments in the area, so it could be risky.

Westminster, can I ask is that just a base house price? I.e no flooring, painting windows etc.

Thanks again.
 
I missed your question Aaron. I was curious on the cost difference between 3 and 4 bedrooms. I also thought 4*2's would be pretty tight in a triplex development.
 
Why do you say that? Im regularly putting 4x2s on 300sqm lots with normal setbacks...let alone 320sqm lots with reduced common street setbacks.

You should see what builders are putting in Dayton on 250sqm lots.....
 
westminster said:
I'm building 200sqm 4x2 with theatre single storey for $250k.

Personally I'd do side by side rather than front rear.
Click to expand...

Wow is that turnkey? The one I'm doing now are under $200k for 4x2+theatre, although doesn't include finishings, but that wouldn't come to $50k...mind you I signed almost 2 years ago...
 
20m frontage on 1000m2 is going to be super long, narrow houses (probably one hall and rooms branching of on each side). You sure you want that? You have plenty of room to spare with an access leg - battleaxe will give you a more traditional square house.
 
It was an uneducated guess, conditioned by thoughts of open space requirements and the size of display homes these days.

Up until today, our working assumption was that this block was for the family home. I'm now trying to piece together a plan on how to maximise the value of the property. It appears I have a steep learning curve ahead!
 
The current house is in disrepair and is sinking on one side. Theoretically it could be retained but would require significant work including the removal and relocation of garage. We're leaning towards the typical battle axe development, although I've noted a recent subdivision nearby was lengthways.
 
CharlieT said:
Thanks all.

Further thinking is required. The property is in Bassendean, so no definite timetable or outcome on the zoning change. It's an interesting dilemma, wait and increase holding costs or proceed with development and kick myself in twelve months on a missed opportunity.

Assuming we went down the duplex path,There aren't many side by side developments in the area, so it could be risky.

Westminster, can I ask is that just a base house price? I.e no flooring, painting windows etc.

Thanks again.
Click to expand...

That is turnkey with all my site costs blah blah included. I'm building 4 so there is some discount associated but my subdivisions and headworks are more than a simple duplex.
 
WesternRat said:
Wow is that turnkey? The one I'm doing now are under $200k for 4x2+theatre, although doesn't include finishings, but that wouldn't come to $50k...mind you I signed almost 2 years ago...
Click to expand...

Yes turnkey including everything like site works, headworks, strata, painting, landscaping etc etc
 
CharlieT said:
I missed your question Aaron. I was curious on the cost difference between 3 and 4 bedrooms. I also thought 4*2's would be pretty tight in a triplex development.
Click to expand...

Sorry for the multiple replies - I keep on remembering stuff.

Anyway, my Gwelup development is R30 so slightly higher density with 300sqm each block and I can fit 4 x 2 on that.

I'd go 4 bedroom rather than 3, it's not a lot more in cost and you reap the rewards in rent.
 
CharlieT said:
The current house is in disrepair and is sinking on one side. Theoretically it could be retained but would require significant work including the removal and relocation of garage. We're leaning towards the typical battle axe development, although I've noted a recent subdivision nearby was lengthways.
Click to expand...

i've heard of some expensive site works if it's riverside of Bassendean, you may want to get a soil test done first to see how much clay is there.
 
Keep it coming, I'm learning lots. Biggest issue we'll face is site costs. It would be great to spread these costs over a triplex, rather than a duplex!
 
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