STATS AT A GLANCE
COST: $1,905,771
SALES: $2,674,000
RETURN ON EQUITY: 111.85%
RETURN ON INVESTMENT: 31.06%
GROSS PROFIT: $768,229
NET PROFIT: $633,761
Developing and building with Jubilee Home Builders is a service from start to finish. For the quadplex at 90 Star Street, Carlisle, we provided the client with support throughout the whole process including the acquisition of land, applying for permits and titles, ensuring a quality build and chose a high performing local agent to sell the homes.
What we offer is guidance, support and expert advice throughout the development journey giving our clients peace of mind they are making a worthwhile investment.
PROPERTY DETAILS
The client purchased the land in October 2019 through a local buyer’s agent. The intention was to develop and sell the properties upon completion.
Careful research went into finding the ideal location for a development with a large focus on local amenities. The result was 90 Star Street, Carlisle a perfectly positioned block located in close proximity to Perth CBD, the river, casino, and the Victoria Park cafe strip. The property was within walking distance to public transport, numerous local parks and the popular Archer Street meaning residents would have everything they needed on their doorstep.
Sub-division and DA drawings were started immediately after executing the offer and acceptance from the vendor. The DA and building permits were approved by March 2020.
The beginning of construction experienced delays due to the Covid-19 pandemic. During this time uncertainty in the economy and property market caused hesitations however the client powered through and as we moved further through the year confidence gathered momentum.
Demolition of the existing dwelling and the sub-division into 4 separate titles was completed by August 2020 and the beginning of construction followed in October 2020.
Construction finished in July 2021 taking a total of 9 months to complete. The 4 villas were then staged, photos were taken and put on the market with the best local agent.
There were 51 groups through the first home open weekend and all homes went under offer within 3 weeks. The properties sold for 20% higher than the bank valuations done in the previous year (February 2020).
We couldn’t have asked for better results and despite the brief period of unexpected delays and uncertainty, the client was extremely happy with the support they received throughout the development process.
LEARN MORE
If you’d like to learn more about how we can help you achieve your own property development goals – we’d love to chat. Why not meet at our display home at the Carlisle development and you can see firsthand the design and quality of this build.
