Pallative Care Hospital, Sri Lanka
A 1,240sqm development site acquired with a permit pathway already tested against council policy.
- Purchase price
- $2.65M
- Valuation uplift
- +$520K
- Gross yield
- 5.8%
- Income
- $2,940 pw
A four-member syndicate sought a site they could hold with holding income while a permit was pursued. The requirement was a parcel where the planning outcome could be modelled with confidence before contracts, not hoped for afterwards.
- 01
Planning tested pre-contract
A town planner reviewed the scheme against council's most recent decisions on comparable sites before we made an offer.
- 02
Income while it waits
The existing dwellings carry the holding cost through the permit period, so the syndicate is not funding an idle site.
- 03
Corner position
Dual street frontage removes the internal access driveway most competing sites require, lifting saleable area.
- Land area
- 1,240 sqm
- Frontage
- 31.4 m corner
- Zoning
- GRZ1
- Interim income
- 2 dwellings leased
- Indicative yield
- 5 townhouses
- Independent valuation
- $3.17M
- Step 1Syndicate structure, contributions and exit terms documented before searching.
- Step 2Twenty-two sites assessed; four progressed to planner review.
- Step 3Feasibility modelled at three yield scenarios; offer set at the conservative case.
- Step 4Purchased at $2.65M with a 120-day settlement to begin the permit process early.
Permit for five townhouses lodged within 90 days of settlement; site revalued at $3.17M on the strength of the planning position.