Elevating Ground, Elevating Returns
Development Solution for a Challenging Site
Our client came across a great corner site which they knew would make an ideal development proposition. The site measured 746 sqm and was in a highly desirable, established Auckland suburb. The one drawback was that it was challenging site; it was not flat. The client initially considered the best development option would be to construct a new home and a new unit. However, on further investigation, the expected returns from a development of that size did not justify the costs.
Our client then approached Ashcroft Homes. An Ashcroft Property Development Consultant reviewed the site and the client’s goals and suggested that if the client considered a larger investment into site works, the construction potential and project returns would be significantly improved.
With the creation of a flat building site, our team confirmed it would be possible to create five new terraced houses using Ashcroft’s Windsor design. This proposal was certainly appealing to the client who intended to retain the new homes for rent. The two-bedroom Windsor, with its modern sleek look and easy flow living, is a popular choice for tenants while landlords enjoy the low maintenance and great yields that these homes typically deliver. And crucially, the creation of five new homes would definitely offset the costs required for establishing the flat building site and offer significant returns for the client.
While the proposal was appealing, the client was keen to do further due diligence and approached some other building companies. None of these companies were able to offer a solution that could compare. Ashcroft Homes were appointed, and planning got underway.
The five proposed townhouses were an intensive development for the site, however Ashcroft’s in house planning team prepared the Resource Consent and guided this through Council, achieving approval.
Retaining was a prominent aspect for this project so this was designed to be as visually appealing as possible. A keystone retaining wall was used and this, with its built-in pedestrian access and contemporary fencing has greatly contributed to the street appeal of this contemporary new build.
The client was delighted with the whole development process and the end product. The project not only delivered great financial returns for our client, but he found securing tenants for these lovely new homes, a breeze.
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Ashcroft’s lateral thinking delivers 50% more housing - and profit
Our client’s rental property was a four-bedroom home on an 800 m2 site. When changes to the Auckland Unitary Plan were introduced, zoning adjustments meant the property was now located in a Terraced Housing and Apartment Zone. This provided great development potential for this rental property.