Peter Motalli, a property developer with over 30 years of experience discusses a case study of a 20 apartment and 8 townhouse project in Northcote. To achieve a successful result – the developers had to rezone land from industrial zoning to residential, compensate for the railroad at the back of the site and complete the development in 2 stages.
Ultimately the mixed project was successful because of the flexible approach to the project as the demand in the market had changed dramatically because of various global changes.
Optimise the Development by Reducing Yield and Increasing Profitability
Click the link below to watch the 2nd part of the series where Peter talks about optimising the development plans and increasing profitability by reducing the yield of the proposed permit application.
Peter discusses how to briefly evaluate and start doing a feasibility study on a development site.
He also talks about dealing with real estate agents who are selling the development, how he analyses yield on the site with the permit and what can be done next.