It is a difficult market in which to buy, and one issue is the straightforward sites are often selling for well over what is justifiable to us. On the flipside, our clients are more experienced and together we have access to an experienced team so we can tackle the sites that may be slightly problematic. That spells opportunity, which brings me to today’s alert. This property is 1012m2 of CR1 zoned land with a 24m frontage in a good location that we’d like to subdivide into two lots. There are three issues to solve, all which I believe we have a good chance at solving, and it starts with demolition of the existing pre-war house. The result is just under $1.9m in costs to produce land worth around $2.1m total, on which houses could be built that are worth circa $2.3m. Buyers at about $1.55m.