Subdivision Project Before/After - Bayswater, WA

Hey Guys,

Just thought some may find value from may latest property endeavour.

We have just spent the past 12ish months completing a survey strata sub-division around Bayswater.

There was no initial strategy for buying this property. I was leaving my job to start a little venture and knew I wouldn't be able get finance for a while.

I was after something where a little 'sweat equity' would bring some value.

We paid 535k + Stamp duty for a 807m2 block which was fairly straight forward to subdivide and retain.

Initially I wanted to put my builders rego to use and build something on the rear but its just not feasible for me at the moment.

Im yet to compile the rest of my receipts for accurate numbers, here are some generous ballpark figures.

555k in total for the acquisition of the property

House Renovations were around 35-40k

• New Kitchen
• New Bathroom
• Removed a wall
• Polished the existing floors
• Paint
• Etc

Subdivision will come in close to 30k

• Soak wells
• Fences
• Waterboard Contributions
• Green Dome
• Sewer Connection
• Driveway
• Etc

We will be listing the rear block for around 320k.

I was quite hands on for this one from operating machinery to building the fence as we wanted to keep costs down and some cash may/may not have been exchanged for a few jobs

We also decided to install the driveway even though it wasn't necessarily a requirement. COB would allow us to pay a bond of 5g's from memory but I couldn't bare the thought of living in our house for another 12months without a solid substrate under my feet. Plus it add's a bit of charm for a potential buyer in my opinion.

Longterm the front will become a rental.

Here are the WAPC conditions for those who are interested and a few photos of the before/during/after.

 

Looks good @Eusoc. That matching fence and roof is sharp!

 

Great work, thanks for sharing.

Always think it's good idea to push that little bit extra to make it as presentable as possible, good work on the driveway - extra selling points. Hope doesn't get damaged later by machinery :|

 

Looks great! Well done!

 

I wouldn't be to concerned if it got a few scuffs toward the rear of the drive. I do hope they will go easy on it

 

Excellent @Eusoc!
Great area! I live just in Maylands!

How much do you think brand new 4x2's (225m2 site coverage) on 450m2 will sell for in that location? Generally, in Bayswater it can be about 650K. If so, there may be a tidy profit in a little build here too.

I've just done had some designs for a client of ours on similar battleaxe lots that would cost approx 250k to build with nice finishes (not dirt cheap project builder specs). All of these designs were designed by an architect with solar orientation and livability in mind. If things seem a bit weird in size/layout etc it's because all of these are all owner-occupiers who had very specific family needs. For example, in the first plan, the client is a music teacher, and needs her students to be able to directly access the theatre/music room without walking through the rest of the home

1) approx 252m2 (site cover) on a 495m2 block. 4x2+theater+office, plus it has an awesome kitchen/scullery, and cathedral ceilings in the main living areas.


2) 3x2+study+sitting room approx 200m2 site coverage. (354m2 rear block with 97m2 common property),



3) 4x2 (200m2 site coverage) on a 350m2 rear block with 100m2 common property.


Hope this gives some ideas around possible designs for the rear block

Cheers,
Angad

 

$250k for that first design is suspiciously cheap given the roof design, and I would advise against the cassette style cavity sliders everywhere. They're a maintenance nightmare and are flimsy.

 

@boeman
You got a great eye! Apologies if it came across that 250k budget was for the first design.

250k would be a construction budget for the property @Eusoc posted. That design would be more in line with design 2 and 3 which came in at the 250k mark.

The first design is for a larger block, and the house is bigger. It is relevant to the extent that it is a battleaxe property and has some cool design elements. Also, I'm really proud of what our architect created and I wanted to show it off. It is a much larger home and would not be exactly suitable for this property.

Cavity sliders can be difficult to maintain, but we do our best to make sure the workmanship is on point to mitigate this as much as possible. The reason they have been used in this case is because, in the opinion of that client, the space loss due to swinging doors was a greater evil than the maintenance issues of a cavity slider.

Cheers,
Angad

 

Hi @Angad Singh,

Initially the plan was to build something on the rear block as this certainly would create a better return for us.

It just really is not an option at the moment.

I will be using the proceeds from the sale to bring down our current repayments and inject some capital into my business.

Thanks for the advice

 

Looks great. Did you respray the roof?

I've always had mixed feelings about where fences go with front parking but I think if there are kids living there then I'd do it how you did.

 

@Westminster it seemed like the most logical solution to City Of Bayswater's outdoor living requirement (direct access from a habitable room).

Well It was either that or a new doorway through one of the bedrooms

Yes we did respray the roof, the concrete tiles are so good to paint.

Glad to see your projects are coming along! I went past the one in a highgate a while ago, I loved the location you have there

 

@Eusoc thanks.

Out of curiosity how much does it cost to respray the roof?

 

@Westminster all up around $2500 for our one.

My guy removed/repointed all of the ridge caps.

I then pressure cleaned the roof myself.

I also collected the liquid membrane and paint which was 800.00 and it was around 1200.00 *cough*cash*cough* to have it painted by the same guy.

I had a clients house done a while back and quotes ranged $40 - $60m2 which varied depending on condition of roof (cracked tiles etc) , if the tiles are glazed/terracotta/concrete tiles and if they actually wanted to do it.

Quite a straight forward job to be honest