developing

Hi Andrew

– Contact local builder for ESTIMATE of what you require. Allow another $50K-$60k per dwelling on top of builders price as an estimate.  Most builders don't include absolutely everything in their quote.  Read the fine print. 
– Contact local council for DA requirements and fees for whole development.  The answer will probably be very vague as there are more than one department who deals with a development.  You will probably do the transfer merry-go-round. 
– Contact a private town planner for fees if you don't want to deal with the council directly.
– Allow 30% extra money as a "safety buffer" on top of final prices.
– Contact a draftsmen for plan fees.
– Contact a surveyor for fees
– Contact an engineer for fees.
– Cost for demolishing building if any?

All of the above are very hard to quote on a hypothetical.  Alot of developers do a feasability test  which involves getting the Development Approval and floor plans and getting quotes from builders after they have the floor plans.

I have done one 4 unit development.  Had no idea what I was doing.  Employed a builder who I felt I could trust and communicate well with.  Choose a well known builder, don't get the cheapest.  It is worth paying the extra for less headache.

I built 4 units in Toowoomba (west of Brisbane) for $580K which included absolutely all fees, just to give you a bit of an idea.

I have bought investment properties (still have them) in the past, done well out of them but I did alot better developing.  If the figures look good, go for it.

DIYPM

That is good that you have the business in hand.

To get the best deal and the prevailing rates find an professional agent for this purpose

Ardenvale Homes, Hugh Begg