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Offline PA

  • One man comedy gala

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Offline mondi

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That would be no good at all - I can see lots of hurts trying to get up those front steps pissed!!!!     :o



Offline M308

  • Degranged

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  • Location: Adelaide
  • Name: Scott



Offline Joel


  • Joined: Oct 2009

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http://www.theaustralian.com.au/news/nation/mega-rich-are-digging-deep-to-make-their-mark-with-mansions/story-e6frg6nf-1226262279739

This bad boy is being built down the road from me. From the waters edge it looks insane!

He has some wicked cars and I think he races the Radicals as well



Offline PA

  • One man comedy gala

  • Joined: Jan 2008

  • Drives: MB SLK230 - VW 3.6 CC
  • Location: Hiding in the bushes
Get up to date PA..... :P
No thanks, I'll stay in my own little time warp.



Offline app


  • Joined: Sep 2008

  • Location: Adelaide
http://www.theaustralian.com.au/news/nation/mega-rich-are-digging-deep-to-make-their-mark-with-mansions/story-e6frg6nf-1226262279739

This bad boy is being built down the road from me. From the waters edge it looks insane!

He has some wicked cars and I think he races the Radicals as well

I noticed the caption with the picture said

Quote
Builder Allen Sammut and architect Cameron Jones on site of Steve Shelley's 30 million dollar house in Burraneer Bay, Sydney, on Friday. Picture: Nikki Short Source: The Australian

What house? :confused:

Sounds impressive though.



Offline Joel


  • Joined: Oct 2009

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they only started excavating in Nov. There is an onsite crane there. Will try get some photos from down on the water if it isnt to cold to take the boat out.



Offline dkabab

For those with cash to invest, what sort of costs are involved in subdivision? This property is on the market for $2.5m and I've done some drawings working it out and you could easily get 15x 330m2 blocks @ $260-300k. Meaning $3.9-$4.5m return. Of course you would need to add a road etc, but surely there's profit to be had?

http://m.realestate.com.au/property-residential+land-sa-fulham+gardens-2932326



Offline mhh

  • Chief Test Pilot

  • Joined: Feb 2006

  • Location: Adelaide
For those with cash to invest, what sort of costs are involved in subdivision? This property is on the market for $2.5m and I've done some drawings working it out and you could easily get 15x 330m2 blocks @ $260-300k. Meaning $3.9-$4.5m return. Of course you would need to add a road etc, but surely there's profit to be had?

http://m.realestate.com.au/property-residential+land-sa-fulham+gardens-2932326

You'd want to run the idea past council before you get too far advanced.  And go in with someone with experience - land dev has plenty of pitfalls for the uninitiated.  Here's one...

http://www.sawater.com.au/NR/rdonlyres/8CCE6A79-A809-415F-866C-700DB0C6212A/0/AugmentationCharges.pdf


.



Offline DJS


  • Joined: Sep 2009

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For those with cash to invest, what sort of costs are involved in subdivision? This property is on the market for $2.5m and I've done some drawings working it out and you could easily get 15x 330m2 blocks @ $260-300k. Meaning $3.9-$4.5m return. Of course you would need to add a road etc, but surely there's profit to be had?

http://m.realestate.com.au/property-residential+land-sa-fulham+gardens-2932326

Costs include the road as you mentioned which also includes curbing, storm water, servicing the allotments (gas, water, phone etc), would need to check loading as transformers can be a big cost. Additional site works could be required but impossible to tell without seeing the site.

How much space have you allowed for turning circles, etc? As its a main road cars need to be able to exit straight onto the road. Visitor car parking too.

Not to forget the big one holding costs; plus you would struggle to find a bank who would give a decent lvr with that many allotments.



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