The client was looking to construct multiple units to rent out and hold long term in order to build an ongoing passive income.
We needed to search various near city suburbs to find the right site that could be purchased at the right price.
We had to ensure the land had the right zoning and was ready to proceed immediately with a residential project as the client was keen to start.
Orbic found the perfect 2,700sqm site in Bayswater, with zoning that allowed for 30 residential apartments to be developed.
We managed to secure the land for the client at a reduced price, then organised the Design of the project, obtained Development Approval, sourced project funding, carried out the construction and secured tenants for the units on completion.
The client now has on an ongoing income stream and is looking for the next development project to build her portfolio.
All 30 of the completed rental units will be retained by the client for at least 5 years to ensure they do not need to register or pay GST on the development, as they are a passive Investor and not involved in the industry as a full time developer.