Residential feasibilities

Hollywell, modern beach style villa

Taking cues from the local beach landscape and lifestyle character

Design explorations

Exploration designs for a townhouse development in Hollywell, on the Gold Coast
For our client we explored the option of two three bedroom townhouses with a modern edgy look.

The design was based on research that we carried out into the local property market to determine what was on 'trend' and appealing to buyers in this market (market research).

Establish a point of difference.

Feasibility assessment to determine investment opportunity

Our feasibility study identified that there was an opportunity to build 2 x two storey 3 bedroom townhouses.

This would require an impact assessable development application and an initial pre-lodgement meeting with the local authority (council) to obtain their support of the development.

The Hollywell site details

The total site area was 496sqm, with appropriate zoning for increasing housing density (number of houses per lot / sqm). We demonstrated that two functional and aesthetically pleasing townhouses could be build on this site. Offering an affordable entry to first home buyers, or downsizer's who were looking to relocate closer to the water.

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EXPLORE SOME OF OUR FEASIBILITY EXAMPLES BELOW

Labrador, sub-division and renovation assessment feasibility

A two-part feasibility study: Sub-division & Renovation

MARKET PRICE: $515k
DESIGN / DEVELOPMENT COSTS: $30K
SUB-DIVISION COSTS: $40K
RENOVATION COSTS: $125K
ESTIMATED CAPITAL VALUE INCREASE: $90K
TIMEFRAME: BASED ON A 12 MONTH TIMEFRAME

Proposed renovation works

Relocate, Re-stump, Renovate &
Sub-Divide Design explorations

Part of this feasibility entailed the exploration of the viability of relocating an existing house (c. 1965) and sub-dividing the rear lot for sale to the market. Our process for this entailed:

assessment of the LGA city plan, Reconfiguration of Lot (ROL) and other relevant residential codes to determine where capital value could be created
assessment of spatial options for relocation of house (taking into account local government, QDC setback requirements and other applicable building codes)
engagement with agents to determine what the market would be willing to pay for a renovated property on the reduced land size and what the market would be willing to pay for the new land
building and pest to assess structural, termite, and asbestos conditions
cost estimates for the relocation of existing house, re-stumping and renovation works, infrastructure charges (LGA), as well as the modification of infrastructure services (i.e. stormwater, water mains, sewer mains, electrical, etc).

Existing property

Feasibility assessment for land subdivision 'splitter'

Our feasibility study for this site on the Gold Coast identified that there was an opportunity to shift and re-stump the existing Queenslander' style weatherboard home to the front of the block and create a secondary battleaxe block behind.

The existing area was 636 sqm. The site was zoned for medium density development. A side easement would be created for access to the rear block and would be titled for use by both land owners.

This would require a code assessable development application with the local authority (council) to obtain development approval.

Proposed interior (removal of kitchen wall - conversion to open plan living, dining, kitchen)

The renovation details, staged approach for funding

Renovation feasibility entailed:

cost estimates for the relocation of the existing house, including re-stumping, re-connection of services and rectification of building works (asbestos removal)
cost estimates for the renovation works
developing a staged approach to renovating to enable consistent cash flow (revenue) from tenants to offset the land holding costs (loan)

Simple modification of the interior spaces within the existing house enabled:

open plan living room, dining room and kitchen
new kitchen with island bench and breakfast bar
relocated laundry internal to house (within cupboard off newly created hallway)
addition of outdoor dining veranda (opened from an additional bedroom that was created)
3 Bed + 1 (study or children's' bedroom)
new ensuite bathroom for the master bedroom
renovation of existing bathroom
reconfiguration of entry deck and stairs
external aesthetic upgrades

Estimates from agents suggested market would pay between $480-$520K renovated house, and between $320-$350K for the new land.