Duncraig Project

Duncraig Project

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  1. Feasibility
  2. Duncraig Project

Case Study 1: Duncraig Townhouse Project

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The Project

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:

  • Unit 1 (3 Bedroom, 2 Bathroom with Kitchen, Dining and Living) and is 155m2
  • Units 2 and 4 (3 Bedroom, 2 Bathroom with Sitting and down stairs Kitchen, Dining and Living) and is 187/188m2.
  • Unit 3 (3 Bedroom, 2 Bathroom with Sitting and upstairs Kitchen, Dining and Living) and is 182m2.
  • Units 5(3 Bedroom, 3 Bathroom with a down stairs Kitchen, Dining and Living) and is 162m2

The Challenge

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.

The Solution

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 Result

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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19/12/2018 9:14:03 PM
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