53 Mckenzie Street, MELTON VIC 3337
Development Feasibility Analysis in Melton, VIC
Zoned TRZ2 in Melton, this 1,014 sqm site is assessed for 6 apartments at a total cost of $3.57 million. At $354,112 per apartment, revenue of $2.12 million falls well below costs, producing a net loss of $1.45 million and a negative margin of 40.6%. Apartment development in Melton is not financially viable under current market conditions.
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Frequently Asked Questions
How does this site compare to 17 Joan Street in Melton?
Smaller at 1,014 sqm versus 2,468 sqm, with 6 apartments versus 10. The negative margin is similar at 40.6% compared to 38.2%, confirming that apartment development is consistently unviable across different site sizes in Melton.
What is the apartment sale price benchmark for Melton?
$354,112 per apartment. Six apartments produce total revenue of $2,124,672.
What is the total project cost?
$3,574,644, including land at $332,247.
What development type would work better in Melton?
Lower-cost residential formats such as land subdivisions, house and land packages, or single-storey townhouses with lower construction costs per sqm tend to suit Melton's market better than apartment buildings.
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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).