Creating equity in a residential development: Jo Chivers

We have just completed this fantastic corner block duplex project for our client Bob in Newcastle. 

Total cost of project; includes land, DA and CC consents, Torrens title subdivision, full turnkey construction, legal fees and stamp duty:  $785,143

Both villas sales price (have exchanged now):  $1,035,000

Equity created within 14 months (before any tax applicable):  $249,857

Return on Investment in 14 months after project management fee: 19.6% 

Key highlights of this project:

•      The villas have uninterrupted views

•      Equity creation $249,857

•      ROI within 14 months is 19.6% (after PM fee deducted)

•      Both villas sold before Handover

Jo Chivers is chief executive officer of property development project managers Property Bloom.