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Success Stories

House + 2 Villa Development


Equity Created:


The project ended with an equity result of $137,815 after the project management fee.


Rental Returns


$340 per week for the house
$230 per week for villa 1
$230 per week for villa 2

Total rental return is: $800 per week or $41,600 pa


Gross Yield: 7.72%


The property at was originally a 1012sqm corner block with 4 bedroom brick and tile house in need of renovation. The property was purchased in July 2005. The purchase price was $270,000. This property was carefully chosen for the client by Property Bloom™ for development for two main reasons:

  • 1. The 1012sqm corner block has optimal development potential due to aspect, elevation and levels. The brick and tile four bedroom house was original and upgraded as part of the project.
  • The location. On a peaceful street within walking distance to primary and high schools. Only 2.4km to CBD with open park land close by.

Internal Living area of villas 1 and 2: 71 sqm

Area of land assigned to each villa

Renovated house ~ 540sqm
Villa 1 ~ 236sqm

Villa 2 ~ 236sqm

Project Costs:

Purchase price for house on 1,012sqm CORNER: $270,000
Set up costs $11,431
Renovation to existing house: $15,206
Cost to construct duplex: $196,660
Torren’s Title & Strata Subdivision costs: $19,072
Total Costs $538,591

Final Valuations in 2007:

Four bedroom house on 540sqm Torren’s Title: $240,000
Strata Titled 2-bedroom villas: $245,000 each
Total: $730,000


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