42 Berkeley Street, HAWTHORN VIC 3122
Development Feasibility Analysis in Hawthorn, VIC
At 1,380 sqm in Hawthorn's NRZ3 zone, this site is assessed for a duplex at a total cost of $3.46 million. Each dwelling is valued at $1,719,000, producing revenue of $3.44 million and a marginal net loss of $24,585, a negative 0.7% margin. The site is effectively at breakeven, but NRZ3 zoning restricts yield to two dwellings despite the generous lot size.
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Frequently Asked Questions
How close is this Hawthorn site to being profitable?
The net loss is $24,585 on a $3.46 million project. The margin is negative 0.7%, essentially breakeven. A small increase in sale price or minor reduction in costs would achieve profitability.
Why is a duplex assessed on such a large 1,380 sqm site?
NRZ3 zoning restricts the number of dwellings per lot to two. The large lot size does not override zone restrictions on density.
What is the land cost on this site?
$1,432,500. Despite the large site area, land cost per dwelling is $716,250, which is difficult to support on two dwellings even at Hawthorn prices.
What would a rezoning to GRZ2 achieve here?
GRZ2 would likely allow 4 or 5 townhouses on 1,380 sqm. At $1,719,000 per dwelling, 4 dwellings would produce $6.88 million in revenue, potentially returning a margin above 20% on this land cost.
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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).