2 Schofield Street, ESSENDON VIC 3040
Development Feasibility Analysis in Essendon, VIC
A 676 sqm HCTZ2 site in Essendon, this block is assessed for 3 townhouses at a total project cost of $4.02 million. The higher land cost of $1,200,000 pushes costs above the 3-townhouse revenue of $3.75 million, resulting in a net loss of $263,919 and a negative margin of 6.6%. The land is priced $157,500 above other HCTZ2 sites assessed in this suburb.
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Frequently Asked Questions
Why does this site perform worse than other Essendon HCTZ2 properties?
Land is priced at $1,200,000 compared to $1,042,500 on comparable HCTZ2 sites. That $157,500 premium reduces the margin from negative 2.4% to negative 6.6%.
How many townhouses are modelled for this 676 sqm block?
Three townhouses, consistent with HCTZ2 zoning allowances for sites of this size.
What is the total project cost?
$4,016,919. Land accounts for $1,200,000 of this total.
Is the $1,251,000 townhouse sale price realistic for Essendon?
It is benchmarked on local comparable sales data. Essendon townhouses in comparable condition and location have sold near or above this level, though individual outcomes depend on finish quality and specific street.
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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).