19 Swift Street, NORTHCOTE VIC 3070
Development Feasibility Analysis in Northcote, VIC
This 492 sqm GRZ1 block in Northcote is assessed for a duplex at a total cost of $3.14 million. Each dwelling is valued at $1,442,250, producing revenue of $2.88 million and a net loss of $259,211, a negative margin of 8.2%. Land at $1,201,875 is priced for townhouse development potential but the GRZ1 zone and site area limit the yield to two dwellings.
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Frequently Asked Questions
Why is a duplex assessed for this site rather than townhouses?
At 492 sqm in GRZ1, the site area limits the feasible development to two dwellings. Townhouse development requires a larger site to achieve the yield needed to justify Northcote land values.
What is the development margin?
Negative 8.2%. Net loss is $259,211 on total costs of $3,143,711.
How does GRZ1 differ from GRZ2 for this type of project?
GRZ1 and GRZ2 both permit medium-density development, but GRZ2 generally allows greater density in some councils. The practical distinction here is site area, not zone.
What land cost would achieve viability for a duplex at this sale price?
To achieve a 15% margin on 2 townhouses at $1,442,250 each ($2,884,500 total revenue), total costs must not exceed $2.51 million. That implies a land budget under $650,000, well below the assessed $1,201,875.
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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).