16 Cudmore Street, ESSENDON VIC 3040
Development Feasibility Analysis in Essendon, VIC
This 839 sqm HCTZ2 site in Essendon is assessed for 3 townhouses at a total project cost of $3.85 million. Revenue at $1,251,000 per dwelling totals $3.75 million, producing a net loss of $93,744 and a negative margin of 2.4%. The project is marginally unprofitable; a modest reduction in land cost from $1,042,500 would bring it to viability.
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Frequently Asked Questions
What is HCTZ2 zoning and what does it permit in Essendon?
HCTZ2 is the Housing and Character Transition Zone 2. It is a Victorian zone that accommodates medium-density residential development while managing transitions to established character areas.
How close is this project to being profitable?
The shortfall is $93,744 on a $3.85 million project, a negative margin of 2.4%. A land reduction of approximately $100,000 to $150,000 would achieve breakeven.
What is the townhouse sale price benchmark for Essendon?
$1,251,000 per dwelling. Three dwellings produce total revenue of $3.75 million.
What is the total project cost breakdown?
Land is $1,042,500 and total project costs including construction and other expenses are $3,846,744. Revenue of $3,753,000 falls $93,744 short.
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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).