Hi Developers,

I'm very interested in this thread since I'm thrashing the numbers on developing a 5 unit development on a 607SQM block in Wavell Heights, Brisbane North.

Since this is my first venture into a development, I'm finding myself allocating large numbers for contingencies to make up for my lack of knowledge, and that is making my project infeasible. – So I need to better estimate numbers to get a more accurate picture.

Graham and Judy, we seem to be seeking very similar information here. The information I've got so far is:

Building cost for a 3 level unit development is somewhere between a basic at $1108/SQM ( http://www.washingtonbrown.com.au/building-cost-calculator/) and a medium high end of $1897/SQM (http://www.bmtqs.com.au/construction_cost_calculator.htm).

What I don't know is if that budget will include:
Earthworks
Sewer and Electrical connections
Landscaping
Fencing
Sound barriers
Footpath repair
Tree removal
Project management fees
Inclusions such as fridge, dishwasher, dryer, air conditioning

Basically I need a budget estimate to be sufficient for a buyer to walk in and fall in love with the finished product and buy it for the same price that others are being sold at in the immediate area.

If the building per SQM price does not cover all of the above, then what does the estimate cover so I can calculate how much extra I should allocate to be able to get a unit "sale ready"?

A development application to the Brisbane City Council costs $6600 for 2-9 units.
The Brisbane City Council charges around $100 000 as an inftrastructure contribution for 5 units, discounted by 35% if paid by June 30 the year after approval.

Cheers,

Paul Moore – [email protected] – 0411 887 926