2nd Development Project - Mindarie,WA 2 apartments

Discussion in 'Development' started by stumpie, 24th Jul, 2015.

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  1. stumpie

    stumpie Well-Known Member

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    @OSAN Properties - Haven't got that far yet, design and plans are still being worked on.
     
    stumpie, 25th Jul, 2015
    #21
  2. stumpie

    stumpie Well-Known Member

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    @mrdobalina - are you doing 3 3x2s or have you got some 2x2s as well?
     
    stumpie, 25th Jul, 2015
    #22
  3. mrdobalina

    mrdobalina Well-Known Member

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    We got a 2x1x1 (@80m2 internal living, convertible into commercial space) and 2 big 3x2x2 (@160m2 internal living each).
     
    mrdobalina, 25th Jul, 2015
    #23
  4. mrdobalina

    mrdobalina Well-Known Member

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    What are your numbers refining up as for this project Westminster? Total cost and end values?
     
    mrdobalina, 25th Jul, 2015
    #24
  5. stumpie

    stumpie Well-Known Member

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    @mrdobalina - realistically if your 3x2 were to be sold today, what do you think you can sell it for?
     
    stumpie, 25th Jul, 2015
    #25
  6. mrdobalina

    mrdobalina Well-Known Member

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    I would have thought realistically $700k?
    Just saw the Bristol Lane apartments. 2x2 with 80m2 internal living for $800k! It'll be great if they could get that :)
     
    mrdobalina, 25th Jul, 2015
    #26
  7. stumpie

    stumpie Well-Known Member

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    I had a look at Price Finders OTP sales for this development they were all sold within 2 weeks back then, what you see now are all resales. The OTP 2x2 were all sold for more than 700k i don't think 800k is achievable though. I went to 1 of the 2x2 apartments home open last weekend just to see the level of finish and internal space.
     
    stumpie, 25th Jul, 2015
    #27
  8. Blacky

    Blacky Well-Known Member

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    Just waiting on engineering drawings and updated estimate. We have changed the design slightly and the estimate jumped a bit. Not life threatening, but the market has moved as well. Once we have the drawings we will go back and have another look.

    We will keep the Blackminster thread updated as we get more info.

    Blacky
     
    Blacky, 25th Jul, 2015
    #28
  9. MTR

    MTR Well-Known Member

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    Great, look forward to this

    MTR:)
     
    MTR, 25th Jul, 2015
    #29
  10. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    + @mrdobalina we'd love $650-700k in end value but all the sums have been done on less than that. Sums were done on $600k.
     
    Westminster, 25th Jul, 2015
    #30
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