15 Parkside Rise, CRAIGIEBURN VIC 3064
Development Feasibility Analysis in Craigieburn, VIC
CDZ1 zoning in Craigieburn permits apartment development, but sale values do not support the economics. A 6-apartment project on 1,120 sqm produces revenue of only $2,425,350 against costs of $3,771,340, a loss of $1,345,990 at -35.7%. At $404,225 per apartment, Craigieburn's unit values are structurally insufficient for apartment construction.
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Frequently Asked Questions
Is the 6-apartment project at 15 Parkside Rise viable?
No. Net loss is $1,345,990 at -35.7% margin. Revenue of $2,425,350 is $1,345,990 below total costs.
What zone applies and what does it permit?
CDZ1 (Commercial Development Zone 1). This permits residential apartment development but does not address the fundamental sale value problem.
What is the per-apartment sale price used?
$404,225. Six apartments produce $2,425,350 in total revenue, well below the $3,771,340 total cost.
Why are Craigieburn apartment projects consistently unprofitable in this dataset?
Construction costs for apartments are broadly similar across suburbs, but Craigieburn sale values of $404,225 per apartment are far below the cost threshold for viable apartment development.
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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).