Creating equity in a residential development: Jo Chivers
Jo ChiversDecember 17, 2020
We have just completed this fantastic corner block duplex project for our client Bob in Newcastle.
Total cost of project; includes land, DA and CC consents, Torrens title subdivision, full turnkey construction, legal fees and stamp duty: $785,143
Both villas sales price (have exchanged now): $1,035,000
Equity created within 14 months (before any tax applicable): $249,857
Return on Investment in 14 months after project management fee: 19.6%
Key highlights of this project:
• The villas have uninterrupted views
• Equity creation $249,857
• ROI within 14 months is 19.6% (after PM fee deducted)
• Both villas sold before Handover
Jo Chivers is chief executive officer of property development project managers Property Bloom.
Jo Chivers
Jo Chivers is director of Property Bloom, which manages property development.
