Rough Development Costs for Duplex/3x3bed Townhouses

Hi everyone

Looking to do our 3rd development and we're looking at either doing a Duplex next or 3 x 3bed Townhouses on a corner block if we can find one in Melbourne.

Our last project was completed in 2016 so it's a while since we've been in the "marketplace" so keen to get some rough ideas of build costs these days from those that are currently in the process or just finished etc.

For my feasibility study I'm allowing $20k per square for a medium finish or $25 per square for a high finish. This is just build cost only for turnkey and doesn't include things like Drawings/Subdivisions, Demolitions, Holding Costs etc.

Does the above sound about right for my feasibility study on projects?

Thanks

 

I priced a 3+4 bed build in Sydney and it was about 400-450k turnkey with reasonably good fittings. Plus site costs

 

Costs are about right for the current Melb market, maybe a tad under but ok

 

Thanks very much for that gents appreciate it.

Happy for anyone else to provide input too.

 

Don’t forget open space contribution and GST.

$20k/square is $2150 / m2 which sounds ok for investor grade.

 

Plus gst and your on the money! Doing this at the moment, starting build in a few weeks

 

A little off topic, but when considering or doing a development is the a checklist or list of procedures / tasks that people follow?

I have a 1,000 sqm block in Bendigo with a small 1940's house on it with street frontage front & back. Thinking of developing to put 2 duplex's on it.