MCHP Architects have created a design and have gained development consent on a small site, with an undeveloped single residence currently, which has reaped big dividends for the property owner. The property has just sold for $2.76 million, a 250% increase on its sale price of 5 years prior with just the Development Approval.
The 560 square metre property, which is only 14 metres wide, contains a simple single residence was purchased in May 2011 for $1.12 million has had no upgrade works to the property, but now has an approved Development Application for a 3 storey, 5 apartment development.
The proposed apartment building took some skilful designing and close working with North Sydney Council to establish how to effectively create a multi-unit development on such a tight high-density zoned site. We are pleased with the result which achieves a high yield on a small site with pleasing and very liveable, boutique apartment design in a location close to the city.
MCHP Architects will be happy to work with you on your development to maximise the development potential of your property.