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On the 6th October 2017 Sovereign Building Company were contacted by a developer in relation to a modern, cosmopolitan townhouse development in Duncraig. Excited about the possibility of being involved in such a fantastic project, we quickly established a plotting/subdivision on the site and provided a full feasibility study to the developer by the 13th of October. The Developers provided an offer on the property the following week, and then after the 6 week due diligence period we began work on designing a fantastic series of townhouses with the following mix of designs:
The designs were presented to the City of Joondalup planners and accepted by the council, however there was an issue to overcome. Town planning policy dictated that townhouses needed to be 10 metres wide, whereas our designs came in at 6 meters wide.
To overcome this hurdle and deliver the stunning, compact development we had envisioned we applied to the Western Australian Planning Commission (WAPC) to have 5 x 6m wide frontage townhouses lots on the block approved and we submitted this on 24th of November 2017. This was approved at the WAPC meeting in March 2018.
The development also achieved planning approval and Sovereign Building Company is now preparing for commencement of construction in July 2018. The initial feasibility study indicated a range of 15-20% return, and this was backed up by a final feasibility study that indicated a return 16-18% after all build costs, finance approval, real estate sales reports and proposal and fully engineered working drawings and interior pre-sign sections have been finalized. The team is looking forward to breaking ground on the project and delivering some stylish high density living to Duncraig.
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When we first started looking for builders and came across Sovereign Homes on the internet we we're not sure that we had the budget to build with them considering some of the homes they had built, after our first conversation they assured us that they could build the home we we're after within our budget.
We are so happy with our home and would not hesitate for a moment in recommending Sovereign Building Company to anyone who is looking to build a beautiful home without the headaches.
A huge thank you on behalf of the church family for the work you recently completed on our offices. All the matters were addressed with a keen desire to help and were completed in a very professionalism manner. David, we so appreciate all that you have done for us. Thank you again.
We look forward to this project with confidence in you ability to again achieving a fantastic result.
So I would like to congratulate the Sovereign Team for their amazing effort. Thank you so much from the bottom of my heart. I’d definitely go back and recommend them to all of my family and friends
The speed of delivery has been impressive, and build quality is exceptional