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Latest Alerts

Line Them Up


This super handy site is 809m2 of LMR2/3 gold. It is a corner site, and yes, one of the streets is busy, but the position is within walking distance of a monster number of amenities including trains and cafes. It is also a premium suburb, but because we front a busy road the result is we’ll be bringing to the market a more affordable product in an otherwise expensive location. What we particularly love is the corner allows us to line up 6 townhouses terrace style, which is always an attractive outcome. The location should also allow 3 storeys, which is how we are achieving 6 dwellings in total. We need to assume one common driveway but it may be a possibility to freehold these, though whether you choose to or not is up to you. Our numbers are indicating 24% equity gain, but your product only needs to be a midrange finish so perhaps there are savings to be made in construction. Buyers at $950k.

From Wipeout to Perfect Barrel


This seller has done the hard yards by gaining an Impact Assessable approval for a boundary realignment, house shift, extension and new house, but for whatever reason have decided not to proceed. He tried selling but at too much money during a pandemic. The result is a wipeout with them set to lose money! But you can turn their wipeout into a perfect barrel as our research indicates there is good money to be made here! This project will involve the shift, extension and renovation of a house, and the construction of a new house beside it for an anticipated equity gain of almost $500k or 21%. It gets better though, as the property is super well located, backing onto a creek, moments from hectares of parkland, inner-city and in a suburb undergoing heavy regeneration. Buyers at $1.05m.

Long Time Coming


It has been a long time coming for this alert. The seller has been trying to sell this property at various times for a number of years with a number of agents, a number of strategies and both on and off-market. There has been three reasons a sale hasn’t eventuated – initially a poor design, then a silly price, followed by a stupid strategy. The funny thing is, there is nothing wrong with the property, all issues have boiled down to the seller! So what has changed you ask? Firstly, they have an approval for three townhouses that has largely been forgotten about whilst they marketed a different strategy. This approval is actually pretty reasonable and also wouldn’t be approved today. Secondly, the price is finally getting into realistic territory. We are told $650k is what he’ll take, but $630k with a clean contract. We’re working on the latter price of course, regardless of how clean our offer is. Our numbers indicate a 20% equity gain, which only just makes the grade, however, it is already approved and 3 townhouse developments are probably the hardest to make work at the moment, hence it is alert worthy!

Make It Work


This one is super well located and offers multiple opportunities, and we know it will work – we just need to find a way to make that happen! On offer is over 1600m2 of LMR2/3 land in a quiet street in one of the better parts of the suburb, as evident by recent townhouse sales. It features 2 houses, one of which we believe must be retained, and over 60m of depth to play with. There are numerous development options but the one we feel is likely to work best is 10 townhouses, we just need to find a way to make them fit along with communal open space, bin space and a place for a garbage truck to fit on site. With a higher end finish we believe about 26% equity gain should be possible. A similar return should be expected from a midrange finish with lower costs and lower end values, but as mentioned, we need to work on our plans a bit harder. The agent is indicating a $1.9m purchase price though our preference is to buy it closer to $1.8m.

 

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