26 Florence Avenue, KEW VIC 3101
Development Feasibility Analysis in Kew, VIC
This 1,205 sqm NRZ3 site in Kew is assessed for a duplex at a total cost of $3.01 million. Each dwelling is valued at $1,485,000, producing revenue of $2.97 million and a net loss of $44,690, a negative margin of 1.5%. The project is marginally unprofitable, with a land cost of $1,072,500 leaving almost no room for profit on two dwellings.
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Frequently Asked Questions
How close is this Kew duplex to viability?
Very close. The shortfall is $44,690 on total costs of $3.01 million. A 1.5% improvement in net margin through a modest price increase or cost saving would achieve breakeven.
What sale price benchmark applies to Kew duplexes?
$1,485,000 per dwelling. Two dwellings produce total revenue of $2,970,000.
Why is NRZ3 limiting for a 1,205 sqm site?
Despite the generous lot size, NRZ3 restricts the number of dwellings to two. A GRZ or TRZ zoning on the same site would likely allow 4 to 5 townhouses and dramatically improve the margin.
What is the land cost per sqm?
$1,072,500 on 1,205 sqm equates to approximately $890 per sqm.
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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).