Melbourne Multi-Unit Property Development – Case Study
At delcon we’re fortunate to have a long history of very successful Melbourne property developments, both for ourselves and for our clients. We are often asked about what previous client’s experiences have been, and the results they’ve gained. We’ve profiled quite a few of these stories in our Portfolio.The following case study is one of these clients. His story is one of a highly profitable multi-unit development that took place in Melbourne in 2016 and 2017. This particular project was in Altona North and involved the construction and subdivision of 3 double storey townhouses.
This case study has been profiled to outline the possibilities within the Melbourne Property Development market. Weare not suggesting that results like these are typical, or that you too will experience this level of return if you work with delcon.
When considering a multi-unit development in Melbourne, due diligence is a must. Just to start with you’ll need to research suburb trends, council regulations and speak to an experienced Melbourne multi-unit builder about the potential of your project. A thorough Feasibility Assessmentis always advised prior to commencing any development project.
For a free Feasibility Assessment, contact delcon today on 1800 335 266 or email through the details of your Melbourne project here.
Melbourne Property Development Case Study
delcon design and construct were engaged by a new client, a Melbourne CBD based project manager in his late 20’s. With no residential housing or development experience, our client was keen to bring on a professional development team that could manage the proposed project from start to finish.
The best option was a turn-key service that included design, town planning application, town planning approval, construction, external works (driveways, pathways, landscaping, timber decks, clotheslines, etc), and property subdivision. Our turn-key service is structured in a way that replicates our proven successful formula in order to maximise profit potential. For this new investor, a turn-key solution provided the perfect mix of management, control and learning experience.
The client’s vision was utilising a Melbourne builder with multi-unit experience to turn a small, older 3 bedroom property on a corner block of 530m2(17.6 x 30.15m) into 3 double storey, street facing townhouses.
Our design and construct team eagerly took on the project with a goal of 100% ROI. The corner allotment provided a good opportunity for this as it allowed for a set of 3 townhouses that are all double storey and all street facing. All units were sold post completion with recommended real estate partners, and achieved outstanding ROI of 160% for the client.
Project Details
Each of the three townhouses were 3 bedrooms and included
- Master with WIR with ensuite
- Separate main bathroom
- Powder room
- Study
- Laundry
- Open plan Kitchen/Meals/Living
- Outdoor living space
- Double garage
- Exterior: Merbau timber deck, Lawn, Garden beds, Water tank, Shed & Clothesline.
Construction details for each townhouse:
- Conventional/Raft concrete slab
- Brick Veneer (Selkirk black diamond bricks)
- Acrylic Rendered light weight (EPS) cladding to first floor
- Tin roof in Zincalume
- Aluminium Windows (Bradnams)
- Square set plaster
- Vinyl Wrap kitchen
- Stone bench tops
- Bosch appliances
- Fujitsu Ducted Refrigerating Heating & Cooling
- Hardwood natural timber polished floors to common areas
- Carpet to bedrooms
- Floor to ceiling tiles in bathrooms
- Mosaic tile feature wall
- Freestanding bath
- Stone basins
- Mixer taps
- Bosch Security Alarm
- Rendered front porch
- Exposed aggregate driveway
- Landscaped Gardens
Case Study Profile:
- Altona North, Melbourne
- 530m2(corner allotment 17.6m x 30.15m)
- 3 double storey, street facing, townhouses
- Net profit margin 27.9% @ $480k
- ROI 160%