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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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    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 I'm an ISTP-A female, so I might be a bit quirky! 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