Apartment development in Brighton Vic - partnership opp

Discussion in 'Development' started by Tinaandalex, 25th Jan, 2018.

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  1. Tinaandalex

    Tinaandalex Well-Known Member

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    11th Aug, 2015
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    Location:
    Melbourne VIC
    Hi All,

    We have a development site of over 700sqm (16.2m wide by 44.5m long, rear laneway, two cross-over at front) which is going to be rezoned to allow 3 storey buildings. This site is 300m away from railway station and just over 1km away from Brighton beach.
    Our neighbor next door has managed to get plan and permit for 7 (2bedroom) apartments with three storey building for a much small site (550sqm). The apartments were all sold OTP last year ranging between $775k and $1.3m. Floorplan and street layout are attached.
    We've seen this a great opportunity if we can do a similar development but this will be a massive project for us. Would any developer from here be keen on forming a partnership or would anyone be able to guide us to the right direction hooking up with an experienced developer?
    Also any info on the expected margin/yield would be highly appreciated.
    Thanks in advance and look forward to hearing from you

    regards,
    Tina
     

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  2. S.T

    S.T Well-Known Member

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    Melbourne
    Might be stating the obvious here, but have you had a chat to your neighbor?
     
  3. melbournian

    melbournian Well-Known Member

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    why don't get the plans and see if you an on-sell if off.
    Also I think it is 4 storey or more if it is being rezoned growth zone.
    All places can go 3 storeys now if you are in the general residential zone.
     
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  4. Tinaandalex

    Tinaandalex Well-Known Member

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    You were right @melbournian, it’s GRZ not growth zone but we can utilise lane way as no rear setback is required
     
  5. Tinaandalex

    Tinaandalex Well-Known Member

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    @S.T we ve tried to contact neighbours and waiting for them to call us back but would like to explore other ventures in case they r not interested
     
  6. LukeR

    LukeR Well-Known Member

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    Location:
    Melbourne
    I have some developer mates I could get you in touch with

    send me a DM and ill pass on some details for you
     
  7. Tinaandalex

    Tinaandalex Well-Known Member

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    11th Aug, 2015
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    Location:
    Melbourne VIC
    Thanks so much LukeR, will pm you shortly
     
  8. SayNoMore

    SayNoMore New Member

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    13th Jan, 2019
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    Location:
    Melbourne
    How did this go? Very keen to hear people's experiences going through the process.