Triplex Development In Warwick
STATS AT A GLANCE
SOLD FOR $1,494,000
NET PROFIT $246,723
PROFIT MARGIN 19.7%
TIME FROM LAND ACQUISITION TO SALE 13 months
Jubilee Home Builders often work with interstate and international investors. Our experience, team, and broad industry network allow us to manage the entire process, without the client needing to be physically present.
For this project, our team fully executed the development from start to finish. Our local market knowledge and experience enable us to conduct an accurate project feasibility assessment, acquire the land, and build your development efficiently.
We’re your eyes, ears and feet on the ground and keep your project moving. This is important, as with developments, the build timeframe is paramount to the success of a project.
Our client was from interstate, wanting to invest in the WA property market and take advantage of favourable buying conditions with the assistance of a trusted local partner.
Although initial discussions with the client were around a single build, based on the financial objectives, Jubilee advised the construction of 3 single storey units to manage the balance between return, risk, build cost and timeframes.
Land was found and acquired through our network of real estate agents after performing a feasibility assessment to determine the profitability of the project. The land was selected based on characteristics such as size and locale.
During demolition and site preparation, plans were drawn up and approved by council. Commencing the planning process early meant that construction could start immediately upon building permit approval. Having the experience and resources to anticipate and prepare for lead times means that costly delays are avoided.
Total construction time for the 3 units, from concrete slab to handover of keys was 7 months. Titles were issued as a build-strata, and the sales process commenced during the 2-month post-construction subdivision finalisation period.
Despite going to market during a worldwide pandemic, all 3 properties achieved desired sales prices quickly.
Our client was obviously ecstatic with the outcome, and has engaged with Jubilee for further development projects.