STATS AT A GLANCE:
TOTAL BUILD COST $730,000
RENTAL RESULT: Positively geared at $1440 per week across three dwellings in the Perth rental market
The Jubilee process varies depending on the different needs of each client.
We work with local clients as well as interstate and international investors. For remote clients, not needing to be physically present is vital. For local clients, we work with them to be as involved as they’d like to be.
For this particular project our client already owned a block of land in Perth. Not needing to source available land meant the client was ready to jump straight into the next phase of their efficient development project.
PROJECT DETAILS:
Our client’s goal was to turn the block of land they had owned since the 1990s into a long term investment for their future.
After assessing the development project, Jubilee determined that a three unit development was the best strategy. The focus was to be a cost-effective build, without compromising on quality.
This involved drawing up designs and specs that suited the rental market, for example, not overspending on design options and avoiding luxury fittings.
The client approved the concept, and the final designs for their development project, and the Jubilee team moved forward getting plans approved through council.
The construction program, including subdivision, was executed within seven months from start to finish. During handover, the clients were given keys for their three new rental properties ready for the rental market.
All three dwellings were advertised above market value and were rented within two weeks.
The knowledgeable team at Jubilee also completed a tax depreciation schedule for the client. The client will get eight years of depreciation over fixtures and fittings, AC and flooring. If the development remains a rental the entire building will depreciate over 40 years.
With the three rentals positively geared for quality in future our client was very happy with the outcome.
At Jubilee, we pride ourselves on understanding the nuances and complexity of the development market. Your financial goals are important to us, and our strategy is always closely tied to achieving these.
Whether you need a team to solely work on the construction phase of a development project, or want us to manage the entire project, including identifying suitable land in growth corridors, buying land on behalf of our clients and demolition – we can help.
If you’re looking at leveraging property for your next investment, give us a call today. Joe and the friendly team at Jubilee Home Builders will work with you to achieve your goals and maximise your return on your Perth rental market development.
