NSW Leichhardt Duplex Development - case study

Very impressive.

Let me see if I got the numbers right.
Total sales 2.265x2 = 4.53mil
Total project cost = 3.75mil
gross profit (27% margin) = 1.22mil
Net profit(20% margin) = 906k

Someday I aspire to pull off something like this. Just out of curiosity, if you don't mind me asking. How much cash was injected?

 

About 100cc into the forehead region only.

 

About $2m because we didn't want to deal with contruction financing at the time.

 

Thanks for sharing, these look great!

 

I really like all the greenery, wood, and the deep bath & sinks.

 

Hey Mel, how did you go with the driveway situation? Did the properties have front driveways originally?

I’m looking around the area and one of the big questions I have is if Council would allow you to add a front driveway and garage if the property doesn’t have one existing. I’d much prefer having one, however have heard inner west can be tricky about that kind of thing.

 

The property only had a rear lane crossover initially, and given the narrow block width (6m) it was much nicer not having a front driveway. In my experience with Inner West, they don't usually support new crossovers as it takes away street parking (and the neighbours will likely object to it too), plus design-wise on narrow blocks the garage door becomes too much of a dominant feature.