Kallangur

This 972m2 project was sourced on-market as a splitter (2 lots on 1 title). Site purchase was negotiated with a 3 month delayed settlement allowing presales marketing of the 2 lots and a 1 month rent back period to the vendors post settlement.

the project strategy involved demolishing the existing house straddling the 2 lots, clearing the site and installing new sewer & water services. 1 Lot was sold as land only and the 2nd lot had a new Dual Occupancy (3 bed 1 bath/1 bed 1 bath) dwelling constructed as a positively geared cash flow asset for long term holding.

Project funding was via a Joint Venture arrangement with Affirmo securing the site purchase and a valued Equity Partner providing development funding. Affirmo provided both Development Management & Construction Project Management Functions for this Splitter.