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South Brisbane Splitter development

Discussion in 'Development' started by Leo2413, 1st Dec, 2015.

  1. Leo2413

    Leo2413 Well-Known Member Premium Member

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    I know its quite early but I thought i might start this thread for a splitter development we've started (right at the beginning stage). Knocking down existing house, subdividing and building 2 high(ish) end free standing homes.

    Location:
    South Brisbane 8km from the CBD.
    Property: 964sqm block, Residential A
    Cost $640k for the site, 900k build
    Sale: $2,300,000-$2,400,000

    I'll update the thread as it progresses but not looking to start building this one for another 8-10 months.

    cheers,
     
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  2. WilliamB

    WilliamB Well-Known Member

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    Hi mate, very interested to hear how this pans out.

    Is this on two lots already, or one into two lot DA required?
     
  3. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Hi William,

    Unfortunately it's on 1 title only mate so DA required to subdivide and reconfigure into 2. Allocated approx 65k for that whole process.

    Ckeers
     
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  4. Azazel

    Azazel Well-Known Member

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    Sounds like a comprehensive job @Leo2413 !
    Nice one, looking forward to reading about your progress.
     
  5. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Thanks @Azazel . It's got quite a slope so should be an interesting challenge but hopefully it'll pay off! :)

    Cheers.
     
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  6. Logan

    Logan Well-Known Member

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    + 1 following with interest
     
  7. WilliamB

    WilliamB Well-Known Member

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    So
    Sounds fair mate best to be on the conservative side with that. Last one we did earlier this year was about 50k not including connections I think (can give you more accurate figures if you want), but you never know what they will throw at you even with a "simple" block like a splitter. Very keen to read about your progress. Have you selected a builder yet? What sort of gradient are you facing? Sloping toward the street I hope?
     
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  8. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Thanks for the info William, I would love any numbers your happy to impart to me mate. Yes that's what we were thinking regarding the costs - council have a knack for throwing curveballs almost all the time, so we thought 65k hopefully will cover it.

    With regards to builders, we have gone to see a few that were recommended and experienced in split level designs to get an 'educated rough idea' on the feasibility of the build cost. Based on their collective feedback we think its going to be feasible and hopefully their official tenders will reflect their estimates somewhat! In terms of slope I think were looking at about 8-9 meters falling to the street. It has its drawbacks and benefits in this case. The site is located in a prestigious multi million dollar area and is on a very elevated position with mountain views so the slope will cost more in site works but hopefully will also command a higher sale price due to its elevation and sweeping views.

    Did you choose a project home builder or custom mate? Also if your happy to share build cost here or in private msg I would love to hear.

    thanks William
     
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  9. WilliamB

    WilliamB Well-Known Member

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    Wow that is not an insignificant, but if you do it right you may be able to consider a three level to capture the height as best you can. We have seen a few designs where the garage is street level, then two full levels above. I have not done one of these personally so I'd have to assume (as you mentioned) site works could add very significant costs, but again, if the views are worth it who knows.

    We have built with a few project builders to this point, and have pretty much stretched them to their limits :) Our target sales/completion vals have been between 550k - 900k and they have performed well, however they work best with simple cookie cutter plans. In this market, I'd be surprised if you could convince a bigger project builder to do a "custom" build, and nor would you want them to.

    Flick us a PM with your email and I'll send you some details of the DA costs.

    Cheers
     
  10. Leo2413

    Leo2413 Well-Known Member Premium Member

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    HI William,

    Tri-level design is something we are looking at but 2 levels would capture all the views. Also we have to be really careful to not over capitalise on the size, so we are going for a little smaller in internal living space around 265sqm and 310sqm all up, but keep the level of finish quite high as opposed to having a larger internal living space but have to sacrifice on the specs in order to meet the sweet spot for the numbers to (hopefully) work.

    Yes I agree that project home builders wont touch this job and like you said we wouldn't want them to either. Needs to be a custom build. Great to hear your sales targets were met mate. Always a relief! :) I have also just Pm'ed you.

    Cheers.
     
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  11. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Update but nothing exciting:

    Application for subdivision has been lodged at BCC. Hopefully we'll get it back without too many hoops that need jumping though..

    Let the rollercoaster begin.

    Cheers.
     
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  12. Azazel

    Azazel Well-Known Member

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    Good stuff.
    Still looking forward to following your progress.
    How long do you think it will go for?
     
  13. Leo2413

    Leo2413 Well-Known Member Premium Member

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    @Azazel hey buddy,

    The subdivision?
     
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  14. Azazel

    Azazel Well-Known Member

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    Yeah, but also the 'long' total with the above build time?
     
  15. Leo2413

    Leo2413 Well-Known Member Premium Member

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    We're looking to start building in Aug or sep 2016 so we have until then to get all our ducks in a row with less pressure. Unless there is a time blowout o_O

    Are you looking to do a similar project in Brissy mate?
     
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  16. Azazel

    Azazel Well-Known Member

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    Woah, now you're making me sweat.
    I have a fair bit of learning to do before then. But I will be taking notes!
    But seriously, in saying that, you do a lot of learning while doing.
     
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  17. sandyfeet

    sandyfeet Well-Known Member

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    Hey @Leo2413, looking forward to learning from this one as you move along...

    Could you share the breakdown for the subdivision of $65k?

    Thanks
     
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  18. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Ain't that the scary truth! Biggest thing I realised awhile ago is that i have to learn to be comfortable outside any comfort zone otherwise I wouldn't make it. Also there is so much to learn from others so I tend to shut up most of the time and listen when other consultants are explaining processes and mentoring me re development.
     
    Last edited: 17th Dec, 2015
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  19. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Hi @sandyfeet , here is my breakdown so far:

    Town planning: = 3000
    Council contributions = 28000
    Council fee = 4000
    Soil test = 500
    Engineering report = 1000
    Stormwater report = 2000
    Survey preparation = 1640
    Survey registration = 3250
    Cross over repair = 2000
    Contingency = approx 15-20000
     
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  20. lightbulbmoment

    lightbulbmoment Well-Known Member

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    Did you buy the block at auction or elsewhere? Sounds good!