84 New Street, Brighton
Project Outcome
- Purchased a 40% complete, 800sqm high end home at land value.
- Engaged new builder to finish home.
- Redesigned internal and external elements to increase appeal to a broader buyer pool.
- Strategy to sell into a turnkey market with limited comparable offerings.
- Home completed in April 2024 and divested.
Summary
- StatusUnder Construction
- SectorResidential
- Development Debt FundingN/A
- Acquisition Date March 2022
- Building Size800sqm
- Land Area650sqm
- ZoningNRZ3
- Acquisition StrategyDevelop and divest
Key project features:
- 800sqm French Provincial home over two levels plus 4 car basement garage.
- Bought at a low point in the residential market, c.30% below replacement value.
- Home features 5 bedrooms (3 master suites), 5 living zones plus a basement cinema room, 4 basement carparks and outdoor living zones around a 12m pool.
- Re-designed all interiors and landscaping design to reposition the product at the premium end of the market and broaden the ultimate buyer pool.
Capital Works:
