17 Joan Street, MELTON VIC 3337
Development Feasibility Analysis in Melton, VIC
This 2,468 sqm TRZ2 site in Melton is assessed for a 10-apartment project at a total cost of $5.73 million. Apartments are benchmarked at $354,112 each, generating revenue of $3.54 million and a net loss of $2.19 million, a negative margin of 38.2%. Melton's low apartment values do not support multi-storey development costs.
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Frequently Asked Questions
Why is apartment development not viable in Melton?
Apartment sale prices of $354,112 per dwelling are too low to recover construction and land costs. Ten apartments generate only $3.54 million against a $5.73 million project cost.
What is the land cost on this Melton site?
$383,362. Even at this relatively low land cost, the project is deeply unprofitable due to low apartment values.
Would townhouses perform better than apartments in Melton?
Townhouses typically have lower per-unit construction costs than apartments. Based on this analysis, the feasibility model assigns apartments to TRZ2 sites, but a townhouse assessment may produce a different outcome depending on site yield.
What is the negative margin on this project?
38.2%. Total costs of $5,730,072 exceed revenue of $3,541,120 by $2,188,952.
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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).