Laura St, Lutwyche
Description
521m2 of HR land close to shopping centre and transport with various options.
Strategy
There are two options to be explored: retain the existing house and build townhouses at the rear or demolish and build 9 units.
Purchase Price
$625,000
Client Type
Small Developer
Anticipated Outcome / Development Costs
Various exit options: (1) on-sell at settlement (possible due to 11 month contract period); (2) develop and rent; (3) develop and sell.
Twists
11 month settlement was negotiated (absolute gold in a rising market)