hey all,
Im just throwing ideas into the air, and I would appreciate if someone could quickly tell me the potential to subdivde this. Now this property has already sold but it came in my inbox a few days ago, and I just wanted to simulate it for kicks and for my education. (PLEASE NOTE, that I do not own this property or have anything to do with it)
http://www.domain.com.au/Property/F...ver=Emails&s_cid=HomeAlert:VIC&haprof=1158120
ok, so its a bluechip location,
1400sqm would mean 4-5 units, so that would make it $275k to $220k per land at a sale price of $1.1mill.
build 4-5 average town houses on it, so assumies economies of scale and not going over board, would I get away with $190k per townhouse?
so that'll bring the total to $410-$465k per townhouse,
obviosuly not including demolition fees, GST, stamp duty, holding costs etc. etc.
my understanding is that due to location, anything new costs anywhere of $700k+
so what could HAVE been done with this one??
Please lets keep this to a education thread and not a Frankston/Economics thread
Im just throwing ideas into the air, and I would appreciate if someone could quickly tell me the potential to subdivde this. Now this property has already sold but it came in my inbox a few days ago, and I just wanted to simulate it for kicks and for my education. (PLEASE NOTE, that I do not own this property or have anything to do with it)
http://www.domain.com.au/Property/F...ver=Emails&s_cid=HomeAlert:VIC&haprof=1158120
ok, so its a bluechip location,
1400sqm would mean 4-5 units, so that would make it $275k to $220k per land at a sale price of $1.1mill.
build 4-5 average town houses on it, so assumies economies of scale and not going over board, would I get away with $190k per townhouse?
so that'll bring the total to $410-$465k per townhouse,
obviosuly not including demolition fees, GST, stamp duty, holding costs etc. etc.
my understanding is that due to location, anything new costs anywhere of $700k+
so what could HAVE been done with this one??
Please lets keep this to a education thread and not a Frankston/Economics thread