Tri-Level Development Feasibility

Hi guys,

A family member and I bought 2 sites (1 each) which are adjoining near Ipswich which are zoned for medium density and can each fit 3 x tri-level townhouses (off memory I think the blocks are 600sqm each).

Just wondering if anyone has done a similar development recently, or know of anyone who has in QLD? I'm just wanting to find out what the construction + planning costs would work out to roughly. We likely won't be developing for 5+ years but keen to identify a costing now anyway.

Cheers

 

some data you can start with this post.
Feasibility - engineering reports, etc

 

You may get 4 or 5 on the site if you can join them together ( depends on the zoning and planning codes ).

@Westminster has a current project in WA that is a good indicator.

Highgate WA: 4 townhouses development

( although in Ipswich you would likely have low spec, depending on the location )

Get sqm sizes from @Westminster's plans and plug them into the BMT calculator

Construction Cost Calculator & App | BMT Tax Depreciation

By combining the 2 sites together you should be able to get 2 or perhaps 3 more townhouses ... maybe.

 

I plugged in the numbers for a 3-bedder two level townhouse ( medium spec )

 

Thanks guys - very helpful. With the BMT calculator, is that just construction?

Would I have significant additional costs for planning and clearing the existing improvements etc?

Cheers

 

Probably $25k to $40k ballpark for design and planning for one site.

Perhaps $20k for demolition.

You need to look into infrastructure contributions for Ipswich council. This is typically a per dwelling charge. You also have legals and strata levies.

Best just to read through all the development threads ( you will learn a great deal just by doing this ). Plenty of people have posted their project costings.

 

@Steven Ryan has a deve block in Brissie which he hasn't developed yet but he has done some numbers on which might be helpful to you