Boutique Houses, Melbourne

Driving optimum risk adjusted value

Swing secured an opportunity to redevelop two existing dilapidated, semi-detached double brick houses on a single title.  Each house was refurbished at the front to retain the original period features and add a new single level modern extension to the rear.

Insight

This boutique inner urban site in a quiet residential street had the opportunity to be redeveloped into multiple apartments.  Research into the market, which was subsequently tested by numerous feasibilities, indicated that the best risk adjusted development strategy was to utilise the existing front half of the houses with a new addition to the rear.

This strategy enabled a building permit to be issued for both properties without the need for a planning permit despite the eventual lots after subdivision being under 500 m².  The capital investment program of less than 12 months delivered a meticulous high end design that was well received by the market.  Strategic risk management, architectural experience and a strong grasp of financial analysis was instrumental in achieving an outstanding result from very humble beginnings.