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Land unit cost in Holroyd area

Discussion in 'Development' started by MagicInSydney, 24th Jul, 2016.

  1. MagicInSydney

    MagicInSydney Member

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    Sydney
    Does anyone know what the going rate is for land cost per unit in Holroyd? Looking to crunch some numbers. Thanks in advance
     
  2. Gockie

    Gockie Be the change you want to see in the world Premium Member

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    It will depend on the unit block.... land value will depend on the unit entitlement. Lots of units --> land value will be lower. Perhaps try the LPI website? It should be able to tell you. I've got units ranging from a land value of around $30k (72 unit strata) and another over $100k (36 unit block), different parts of Sydney though.

    Edit:
    If your question is how much is the land worth per unit if you do a development, then I don't think that's the right question to be asking and not the right way to approach a development. You need to see your block and understand what you can put on there. Do your feasibility and see if it stacks up. (Sell price - All costs). If you can make a 20% profit on it, great. But make sure you include all costs....
     
    Last edited: 24th Jul, 2016
  3. MagicInSydney

    MagicInSydney Member

    Joined:
    20th Jul, 2016
    Posts:
    11
    Location:
    Sydney
    Hi Gocki,

    Thanks for the advice, and you're absolutely right - I should be taking a holistic view of the whole development.

    I'm in the very beginning stages of planning right now, so I'm wondering how much a site is worth to me so I can figure out some numbers in respect to cost and how much I should be paying for land - probably the wrong way to go about it