South Brisbane Splitter development

Loving it. To me it's crazy for the price and distance to the CBD compared to closer suburbs but who am I to stand in their way. Go for it bay-be, buy away

 

It is really cheap. I built my double storey house with steel frame around $1400/m2

Whom did you build with?

 

What do think about putting this Metricon house on subdivided lots of 400m2?




http://www.metricon.com.au/new-home...trovogue.jpg&floorplan=31#4MEZ2ETfLaSdU2WB.97

 

Hi Retire rich
Did you have problem to connect to neighbor storm water discharge point? Why did you add storm water pump instead of connecting to neighbor storm water?

 

this is Leo2413's post. will PM you

 

Hi Leo

I suppose that you built on Low Density Zone (LDZ). Can you build up to 3 levels on LDZ?

 

You can't build 3 levels in the technical sense but with some smart designing you can get 3 levels as we've achieved .

 

Hi Leo

Enjoy reading your thread.
Was your subdivision plan sealed?

Are you still working on architect design? Do you start looking for builder quotes and when you plan for construction commencement?

 

Not sealed yet, can't be sealed until after demolition. we've done everything else so when we're ready we'll demolish and start building. Design is 95% done and just doing some tweaking to reduce structural costs. We have our quotes back so just massaging a few things to make it even more cost effective for us. So important to have a good builder for sloping blocks who is willing to work closely with you. Plan to start building early Feb.

 

It is about more than 1 year from DA approval upto commencement of construction. Are you still renting out the house for cashflow?

 

Yes.

 

Hi Leo, progress wise, it seems has been so long since you bought it. What's been holding you up?

 

HI tony,

When we bought it, it was a buy - hold/rent and then develop when ready. We were planning to start construction at the end of this year or near to it but with Parramatta dev taking longer than planned and also working on other projects at the same time in Aus and in Asia, we've had to postpone the starting date to early 2017. The property is still rented so holding costs are very low and land continues to increase in value in the mean time which is a plus. If we would have started this dev this year then we would have missed out on snapping up other opportunities as well. So now we've done some good buying, parra is finished, we plan to start Feb/March 2017 fingers crossed. I'll update the thread when I have more news. Tenants are on monthly lease and know we are developing it and happy to stay on as long as they can before they need to move.

 

are you doing George RR Martin on us ?..making us wait that long..

 

I had to Google him . .

I want to start asap too trust me . I was so eager i even paid for the minor water/sewer to be done months ago and now put them on hold til next year lol They keep wanting to come out and start the work and I'm telling them hold your horses!

 

Following this with interest. Thanks for sharing

 

Some final colour selections/locations for Lot 4, Lot 5 almost done. Lot 4 to have all Chrome tapware and Lot 5 all Matte Black.

 

Thanks Leo for great sharing. Very interested in following the process.

 

Hi Leo.

Any updates on this project? Read through all of the threads and am keen to know end of the storey! Am assuming not built yet?

 

Hey @Doculus

We had some good opportunities to get involved in, 2 JVs which really needed to start right away, as well as a venture overseas. We could pass them all up and start with our splitter builds, or keep renting the sites and take on our other ventures first which we decided to do as we didn't want to lose the opportunities. It's actually worked out well because the market for splitters in the areas we have bought has grown even more since we bought the sites, so will add a greater margin for error, greater margin of profits too hopefully. We are itching to get these splitters started and if all goes well we will start this year if we can get the timing right with our other ventures.