Highgate WA: let's build a baby apartment block thread

[Aaron Sice]

Me three.

I didnt sleep too well last night.....kept thinking about this.

Got some good ideas for detailing and...stuff...that will really maximise the internal volume.

Bittersweet win for me - but its still a great project.

 

[bryn]

i like the ground floor apartment with lots of yard space. the fact that the lower floor is larger might block the view lines slightly into that garden from upper apartments too, providing a little bit more privacy.

 

[Aaron Sice]

Privacy is ensured with the WA planning codes for all dwellings around and within.

 

[Blacky]

Me too but it wasn't going to be approved

Its stupid. Why would they aprove a far less apealing design, just because the appealing design doesnt quite meet specs?



Anyway. Its a big win and congratulations! Still a nice development and your persistance has paid off.

Blacky

 

[stumpie]

Unofficially approved - letter will come in a few days.

Unbeleivably relieved.

congratulations WM its been hard hard slog to get there but you made it, well done.

i can't imagine the holding cost this project has costed you.

 

[westminster]

congratulations WM its been hard hard slog to get there but you made it, well done.

i can't imagine the holding cost this project has costed you.

Holding costs has been manageable but yes will impact the bottom line. I think I'm up to $55k of costs from mortgage, design and town planner for appeal.

 

[MTR]

But Myf you have plenty of fat in the deal, therefore you mitigated the risk and can wear the holding costs. My holding costs on my projects average around $10-15K pa, but the profits are smaller 23-25%.
It will be good to see something on the block now, I see lots of graffiti on the sign at the moment......, that's signs going

Getting back to the project, are you holding all or selling, have you decided??? I think I change my mind at least twice a month on this.... I don't know why, my accountant gets ticked off just a little

 

[westminster]

But Myf you have plenty of fat in the deal, therefore you mitigated the risk and can wear the holding costs. My holding costs on my projects average around $10-15K pa, but the profits are smaller 23-25%.
It will be good to see something on the block now, I see lots of graffiti on the sign at the moment......, that's signs going

Getting back to the project, are you holding all or selling, have you decided??? I think I change my mind at least twice a month on this.... I don't know why, my accountant gets ticked off just a little

My bank account would like to challenge your assertion that I can wear the holding costs LOL!

It will be a timing decision
Hold all for at least 1 year then sell one when my income is low for that year. That is the current thinking.
This is a CGT project as it's an investment.

 

[MTR]

So you did not purchase in your Trust??? Distribute??

 

[westminster]

So you did not purchase in your Trust??? Distribute??

This is a personal name project not a trust project. I have a CGT loss I'm carrying forward at the moment which I will use to offset CGT on this project when I sell one and only one.
So it's all been set up with that in mind.

 

[Mr. Fabulous]

They leave the lights on in the park opposite to deter the zombies.

Just wanted to quickly say this is pointless. Zombies aren't vampires. Also, a unit with lots of glass is basically an invitation for an attack. You might as well advertise yourself as a living buffet. Just something to consider. The zompocalypse is coming, get prepared.

westminster, only started reading this thread today and am in the process of going through nearly 20 pages of posts. Phew!

 

[Cadwallader]

WOW took me all morning but i got through the whole thread!

Better story than twilight!!!
Absolutely inspired by this story and cant wait to give it a go my self
Many Thanks,

Cad

 

[Shaz331]

Its now 12.26am - have been back reading all your posts on the Gwelup project and this one......

jeezzee - talk about biting off a bit too much!

so happy for you that you got the planning approval on this one and look forward to pics of breaking ground and building!

Do you do all this with the hubby? or does he take a back seat and just let you get on with it?
and has the highgate project put you off doing R80 developments?

Shaz

 

[westminster]

Its now 12.26am - have been back reading all your posts on the Gwelup project and this one......

jeezzee - talk about biting off a bit too much!

so happy for you that you got the planning approval on this one and look forward to pics of breaking ground and building!

Do you do all this with the hubby? or does he take a back seat and just let you get on with it?
and has the highgate project put you off doing R80 developments?

Shaz

hey Shaz,

I don't think I bit off too much but even though I factored in a non standard amount of time at Council I had no idea it would cause such a ruckus. It seemed like a perfectly sane idea to me - not so to others

Mr Westminster doesn't have the love for resi developing that I do. I eat, breath and sleep it. He likes to see the end product and the $$ though There is probably people on SS who have seen my sites more than he has.

The good news is that it didn't put me off R80. I bought another one around the corner from this but I'm not doing apartments on it as it's better suited to houses. That will be 4 street front houses/terraces on 550sqm.

You have more threads to read tonight to catch up on my other escapes.

 

[westminster]

Someone asked me what was happening with this project after getting DA approved 2 months ago.

Well I'm eagerly waiting my working drawings from Aaron so I can get them cost estimated and go for building license as well.

I'm treading water on all my projects at the moment with not much to report and lots of background work.

I'm taking the time to pretty much sort out what I want for PreStart, ie colours, tiles etc so that when everyone/everything else is ready I'm ready too.

 

[MTR]

That's good, be nice to see bricks and mortar on that site
This developing game is a very long process, am discovering you not only need money but also need to be patient, not something that sits well with me.

MTR

 

[js1]

any updates on this project OP?

 

[westminster]

any updates on this project OP?

I have been a bit slack with updates.

Where am I at?

The plans are with the Engineer at the moment for all the structural engineering stuff. It was hoped that would be finished before Christmas shutdown but it wasn't.

So once that is done then it will go for building certification and then Building Permit.

It is also in for re-costing and that should be complete in January.

I have done Prestart and done all my colours, my tiles are chosen and I am already to go.

All going well I think it will be going to site in April

 

[MTR]

That's is great, been walking my dogs around the park so I will be closely watching, probably even see you there

 

[js1]

I have been a bit slack with updates.

Where am I at?

The plans are with the Engineer at the moment for all the structural engineering stuff. It was hoped that would be finished before Christmas shutdown but it wasn't.

So once that is done then it will go for building certification and then Building Permit.

It is also in for re-costing and that should be complete in January.

I have done Prestart and done all my colours, my tiles are chosen and I am already to go.

All going well I think it will be going to site in April

holding costs must be huge close to 3 yrs when finished?