113 Droop Street, FOOTSCRAY VIC 3011
Development Feasibility Analysis in Footscray, VIC
This 393 sqm NRZ1 block in Footscray is assessed for a duplex at a total cost of $2.24 million. At $846,000 per dwelling, revenue of $1.69 million falls well short of costs, producing a net loss of $546,971 and a negative margin of 24.4%. The small site area limits yield to two dwellings, and the land cost of $660,000 is difficult to justify on a 393 sqm NRZ1 lot.
Loading interactive analysis...
Frequently Asked Questions
What is NRZ1 and how does it restrict development in Footscray?
NRZ1 is Neighbourhood Residential Zone 1. It typically limits development to two dwellings per lot, which restricts yield and reduces the economic efficiency of higher land costs.
What is the assessed sale price per dwelling?
$846,000. Two dwellings produce total revenue of $1,692,000 against total costs of $2,238,971.
Is the 393 sqm site area a constraint here?
Yes. At 393 sqm, the site has limited net developable area, which raises construction cost per dwelling and reduces the total number of units that can be efficiently delivered.
What margin does this project return?
Negative 24.4%. The project is not viable under current assumptions. A loss of $546,971 is recorded on total project costs of $2.24 million.
More Reports in Footscray
Nearby Suburbs
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).