Developers Rush To Flip Sites: AFR

Developers Rush To Flip Sites: AFR


February 2016
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Developers Rush To Flip Sites: AFR

As values peak, a growing number of east coast development sites are being listed for sale with those carrying a development permit attracting premium pricing.

Sydney-based Alpha Fund has listed a DA-approved site in Sydney's Waterloo, near the future new township of Green Square.

The fund purchased the 1436 square metre site at 713-717 Elizabeth Street in 2013 for $12.5 million and spent the last two years pursuing a development application (DA) permit for a four-storey apartment block with 36 units and a communal rooftop terrace with views of the Sydney CBD. One third of the apartments have already been sold off the plan.

Read more: http://www.afr.com/real-estate/developers-rush-to-flip-sites-as-values-peak-and-banks-tighten-lending-20160226-gn4mow#ixzz41VcbWIZc 


Image courtesy: ABC News

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