33 Canning Drive, BERWICK VIC 3806
Development Feasibility Analysis in Berwick, VIC
Berwick's GRZ1 zone permits apartment construction, but the numbers here do not work. A 6-apartment project on 800 sqm produces total revenue of $3,345,900 against a total cost of $4,016,208, resulting in a loss of $670,308. The margin is negative 16.7%, making this project unprofitable at current land and build costs.
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Frequently Asked Questions
Is a 6-apartment project at 33 Canning Drive financially viable?
No. The projected net loss is $670,308 on a total project cost of $4,016,208, giving a margin of -16.7%.
What is the land price and how does it affect feasibility?
Land is priced at $599,962. At $557,650 per apartment, the combined build and land costs exceed projected revenue by $670,308.
What zone is this property in and what does it allow?
The site is in GRZ1 (General Residential Zone 1), which permits apartment development subject to planning requirements.
What would need to change to make this project viable?
Either land acquisition cost would need to fall significantly, or sale prices per apartment would need to rise above $557,650 to recover the $670,308 shortfall.
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DISCLAIMER: This analysis is generated by automated algorithms for informational purposes only. It does not constitute financial, investment, or legal advice. Actual development costs, revenues, and returns may vary significantly from these estimates. Users should consult qualified professionals including a registered quantity surveyor, accredited town planner, and solicitor before making any investment decisions. DA Leads Australia Pty Ltd holds no Australian Financial Services Licence (AFSL) and is not authorised to provide financial product advice under the Corporations Act 2001 (Cth).