Highbury SA - Development

Discussion in 'Development' started by Brady, 3rd Sep, 2015.

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  1. MTR

    MTR Well-Known Member

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    Nice work Brady, and thanks for sharing the numbers on your project so we can all learn.
    Now time to find another;) rinse and repeat

    MTR:)
     
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  2. Perthguy

    Perthguy Well-Known Member

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  3. clemont

    clemont Member

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    Looks great!
     
  4. joel

    joel Well-Known Member

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    Why are modern kitchens designed around the fridge like this? Whoever moves in here is going to have their own fridge and there's a fair chance it won't fit in the designated area
     
  5. DaveM

    DaveM Well-Known Member

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    Fridges are generally a standardish height and width (apart from double door models). Allowing a 900 x 1800 space will fit the vast majority of models.
     
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  6. Perthguy

    Perthguy Well-Known Member

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    I house share in a 1980s build brick house where the fridge recess is brick, not cabinetry like this property. The fridge recess looks small but when I measured it up and went fridge shopping, I was surprised at the number of choices I had.

    I think the kitchen that @Brady has built is a lot nicer than the shared house kitchen. I would live there! :)
     
  7. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Looks great @Brady - it's got some really nice features for that price level.
     
  8. Brady

    Brady Well-Known Member

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    Received keys yesterday after few weeks of getting touch ups sorted.

    Have tenants sorted for both - $430p/w

    I'll throw some pictures up of my place once I've settled in.
     
  9. Sackie

    Sackie Well-Known Member

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    Congrats @Brady. Touch ups were a pain in the ass for me too.
     
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  10. Brady

    Brady Well-Known Member

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    Very tedious but wasn't willing to hand over the final cheques until they were sorted.

    Fortunately the Site Supervisor that we ended up with was awesome to deal with, would have been much better process if he was on board from the start.
     
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  11. Sackie

    Sackie Well-Known Member

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    Agree 100%, that's really our only last cash leverage over them... they really hold most of the cards most of time...
     
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  12. Megan

    Megan New Member

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    Great read Brady. New to this forum, however my partner and i are completing our 9th project in Melbourne. Beginning to look interstate for the next opportunity and currently researching Adelaide. Can you recommend relevant websites for zoning, overlays, land data etc? Any particular councils you would avoid? Fees unique to SA?
     
  13. D.T.

    D.T. Specialist Property Manager Business Member

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    The outer area councils (playford, Salisbury, onkaparinga) are going to be the most generous and flexible. Note that this does not necessarily mean most feasible.

    Mitcham is one to avoid imo - heard quite a few bad stories out of there about them being overly stringent.
     
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  14. D.T.

    D.T. Specialist Property Manager Business Member

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    One block into 2 Torrens titles will run you about 22-25k all up. This included the surveyors fee, council fees, state govt fees, water setup, title registration, etc.

    Obviously if you do community (our strata equivalent) or multiple Torrens then the costs for each comes down a little bit.

    The biggest variable is water. If it has to be ran more than a standard distance they'll charge you big $ / metre.
     
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  15. Megan

    Megan New Member

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    Thanks so much D.T, appreciate this. Will certainly always do feasibility. Are there any websites that offer free property data for SA? Zoning/overlays etc? We have land.vic.gov.au here for Melbourne where we can look at a particular sites restrictions merely by typing in the address. For instance, general res zones compared to neighbourhood res zones, vegetation protection overlay, aboriginal sensitivity, design/development overlays etc.... however looking at your SAILIS site - no data comes free??
     
  16. D.T.

    D.T. Specialist Property Manager Business Member

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    Have a look around at all the stuff at sa.gov.au - Planning and property to start with. Most stuff here is council specific though and the council websites usually have policy docs and maps.
     
  17. Megan

    Megan New Member

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    Great we will start here, thanks again.
     
  18. SRE

    SRE Member

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    I'm a huge fan of using Property Location Browser v2.1 for my initial research. This free website saves a lot of time when trying to find the council and zone a property is located. You can click on the zone overlay to see the extent of the zone etc.
     
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  19. Brady

    Brady Well-Known Member

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    @Erica it's completed - been done for couple months now. Tenants are in both the rentals paying $430p/w
    I've moved into RES1.

    I haven't gone through and kept my spreadsheet up to date since the build heavily progressed, once it was at that stage it didn't matter was just a case of what needed to be done needed to be done.

    My spreadsheet last had TDC around $1.3M there wasn't much change in either of the rentals except I spent ~$10-20k on landscaping as went fake grass and $5-10k for window treatment. Besides that everything was already built into the contract or ready with trades. So total would be say ~$1.33M

    I don't think the property would have any troubles achieving $500k+ each for the rentals and $600k+ for mine.
    So total values around $1.6M+ gross profit ~$270k+
     
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  20. Erica

    Erica Well-Known Member

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    Excellent outcome Brady, & gorgeous properties, got plans to do any more developments?
     
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