Here's a curly one.
I'd like to get a bit of an idea on high rise apartments construction costs.
The Surfers Paradise site is almost 3000m2 with about 40m river frontage and is zoned for 18 stories.
Assuming 4 units per floor (or possibly more) of about 130 m2 each x 18 stories =72 units.
Also, all associated building works, including basement parking, lifts, services, lobby, nice riverfront pool, common areas etc etc.
Is there an approx $ per sq metre amount, or does anybody know of some similar type project and what it can cost?
Reason that I ask is because I own a unit in a rather unloved complex of units, nearly all rentals, which sits on an extremely valuable piece of prime land. I've spoken to a few of the other owners and we seem to share the view that this is ultimately the way to go.
Basically i'm trying to gauge what the property would be worth to a developer, so that we can determine whether it's worthwhile to proceed further.
I would appreciated any feedback from those experienced in this area.
Thanks in advance.
I'd like to get a bit of an idea on high rise apartments construction costs.
The Surfers Paradise site is almost 3000m2 with about 40m river frontage and is zoned for 18 stories.
Assuming 4 units per floor (or possibly more) of about 130 m2 each x 18 stories =72 units.
Also, all associated building works, including basement parking, lifts, services, lobby, nice riverfront pool, common areas etc etc.
Is there an approx $ per sq metre amount, or does anybody know of some similar type project and what it can cost?
Reason that I ask is because I own a unit in a rather unloved complex of units, nearly all rentals, which sits on an extremely valuable piece of prime land. I've spoken to a few of the other owners and we seem to share the view that this is ultimately the way to go.
Basically i'm trying to gauge what the property would be worth to a developer, so that we can determine whether it's worthwhile to proceed further.
I would appreciated any feedback from those experienced in this area.
Thanks in advance.