This Southbank property represents an opportunity to acquire a development site in a highly sought after precinct of Melbourne CBD. This site has a permit for a landmark residential apartment tower.

The key points of the property are:

1. Approved permit in place for a 33 Level apartment tower comprising of 58 apartments.
2. Majority of the apartments are 2-bedrooms, with an average size of 62sqm
3. Corner site of 170m2 in area, located within the Crown Casino precinct, in close proximity to Melbourne CBD and Melbourne’s art and sporting precincts.
4. Architectural design maximises the efficiency of the site

The Property

Land area – 175sqm. The site has planning approval for an architectural designed 33 level residential tower comprising of 58 apartments. It is on a corner site, with 2 street frontages with a rear lane way access.

Planning Permit

Planning permit is in place for 58 apartments with the following break up.

• 12 x 1 bedroom apartments
• 44 x 2 bedroom apartments
• 2 x 2 bedroom and 2 bathroom apartments (over 2 levels)

Proposing a Gross Floor Area (GFA) of 5798sqm and a Net Saleable Area (NSA) of 3600sqm

Development Costs and Return on Investment

The costs associated with this development and its projected investment returns are tabled below. Detailed calculations can be found in the appendices

From this analysis, it is determined that this project potentially returns a 24% profit on investment. It is determined that this development is a secure and viable investment.