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Success Stories

Newcastle Duplex

Site
Foundations
Completed Project
Lounge Room
Kitchen
Living Room
Bedroom

The land for this development was purchased late 2015. The project was completed late 2016. The purchase price for the land was $275,000. The land is in a premium master planned estate with highly sought community facilities, close to school and shopping centre. This property was carefully chosen for the client by Property Bloom™ for development for three main reasons:

 

  1. The location is planned for massive population growth and expansion by NSW Planning and Council.
  2. The estate community facilities.
  3. The market. This development was sold and targeted downsizes looking for low maintenance, single level dwellings.

 

Living area of each three bedroom, three bathroom townhouse: 171sqm

 

Total Project Cost, including land, stamp duty, legals, DA, CC, build cost, Torrens title subdivision:

$714,546

 

Sold for in 2017:

Villa 1:

$495,000

Villa 2:

$492,000

Total:

$987,000

 

Equity Created: 
The project ended with an equity result of $272,454 before the project management fee within 12 months. 

ROI 24.2% after PM fee. 

 

Gross Rental Yield – 6.9%

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