November 30th, 2020
We have made great progress getting this project moving forward as we have now received the approval from the lender to finance construction of the project. We are currently making preparations with the builder so we can commence works.
We are working to finalise the points highlighted by the building surveyor with the builder and anticipate construction to commence promptly after.
October 31st, 2020
We are in the final stages of working with the lender to get the finance finalised.
Throughout the month we have been working collaboratively with the builder to acquire the building permit. We received feedback from the building surveyor and we are working on incorporating the new requirements. Once this is finalised the works can commence.
As previously mentioned we had approved the renders for the project which will assist with the illustration of the end result. We can confirm these are now complete and you can view on the project update page below.
September 30th, 2020
As mentioned last month we have secured a lender for this project however we are still in the process of settling on the construction loans which we anticipate will occur in the coming weeks.
We are still in conversations with the builder on how we can best expedite the project once the delay with lending has passed.
While there have been slight delays due to the lending there has been a great deal of progress with a number of marketing items that will greatly facilitate the sales process.
The fence wraps for the project are currently being designed and are scheduled to be installed onsite next month. In addition we have approved renders which will be used online and for sales purposes. We are also in the final stages of designing a look book that will also be utilised for sales.
August 31st, 2020
We have finally secured a funder in COVID times for this project. It is the same funder as for our Pink Hill project. This funder has issued a letter of offer. In the offer, one of the conditions was we needed to facilitate 4 sales in Pink Hill before they would consider progressing the application.
We still needed to negotiate as their policies changed pre and post COVID times. Finally we are now progressing the application forward and anticipate settlement on the construction loan to happen in the next 3-4 weeks.
In the meantime, we have been working closely with our builder as to how we can progress the project in the meantime. They are coming back to us with some suggestions and timeline next week.
July 31st, 2020
Demolition of the existing property has been completed, and the site has been completely cleared—ready for construction to start.
We are in the process of putting the finishing touches on the loan documents for construction finance. Once the construction loan has been confirmed and settled, we will begin construction right away.
Since we’re waiting anyway, we’re working with the builder on some additional value engineering to improve the overall development. A better final product, equals a higher selling price, equals better returns to investors.
We’ve also launched a digital marketing campaign to start getting some off-the-plan sales on the board, in addition to the work being conducted by Barry Plant Real Estate
June 26th, 2020
Demolition began on the 22nd of June (we posted a video earlier this week!) and we expect the site to be fully cleared in approximately two weeks.
May 26th, 2020
The demolition permit has been granted and the demolition works have been booked to start in ten days.
We are also in talks with potential lenders to secure construction funding. We are aiming to confirm construction finance before demolition is complete so we can smoothly transition into starting construction.
April 22nd, 2020
We are working with the appointed builder to arrange for demolition once construction finance is secured.
Concurrently, we are negotiating with potential lenders to secure a good deal for the construction finance.
March 27th, 2020
After reviewing tenders from twenty different builders, we have nominated Blue Sky Building and Construction as the builder for this project.
February 26th, 2020
We have received build price tenders from seven different builders. We have been busy reviewing these tenders and negotiating with our shortlisted favourites. We will be finalising the builder shortly once negotiations are concluded.
January 26th, 2020
We have received build price tenders from three different builders, and we should receive several more by the end of next week. We have begun reviewing the offers we have already received.
Negotiation with builders will begin next week.
December 20th, 2019
The tender stage to appoint a builder began two weeks ago. We have distributed documents to five potential builders and we will receive their offers in January after the holiday break.
November 25th, 2019
The drawings required for the building permit are completed, including engineering, architectural, structural, civil engineering, electrical engineering, and fire engineering drawings. We are reviewing those drawings and finalising them so we can start the tender stage.
The tender process to nominate a builder will also begin this month. We will be inviting five builders to submit tenders for our review.
September 24th, 2019
The soil investigation on site was completed on the 5th of September, knowing the makeup of the soil on site is essential for designing the foundations and supports of the homes. A Structural Engineer and a Civil Engineer have been nominated and started the design works. A Building Surveyor has been chosen and we are in the process of choosing Fire, Electrical, and Mechanical engineers within the week.
All of the above is required to prepare the Building Application drawings. Once these drawings are complete we will begin the tender stage to choose a builder, and we expect this to last for 10-12 weeks.
August 23rd, 2019
When our planning permit was granted, there were some conditions from Council that were issued alongside it. We submitted our endorsement application a few days from today to demonstrate that these conditions have been addressed and to get the permit endorsed.
We have also begun liasing with the required consultants to begin preparing the drawings required for Building Approval. Work on these drawings is scheduled to commence next month (September), and once completed, the tender stage will begin usually 10-12 weeks, starting from September 2019.
We have also begun preliminary discussions with builders.
July 19th, 2019
We received the approval from Council today! Now the next phase of the project will begin.
June 19th, 2019
We are still in the process of obtaining approval from Council.
May 21st, 2019
We are still in the process of obtaining approval from Council.
April 18th, 2020
Still in the process of obtaining approval from Council. We should hear back from Council in a weeks time.
March 20th, 2020
Plans have been submitted to council and we are awaiting their decision. We are expecting to receive the decision in early May.
February 20th, 2020
Plans have been submitted to council and we are awaiting their decision.