Our Projects:
Richmond townhouses
and commercial
An investment
that adds-up
332 Victoria Street,
Richmond
Set within a high-density pocket of central Richmond, the development of this boutique mixed-use project was carefully considered to deliver both liveability and long-term value. The project comprises six three-level townhouses and a retail/office space.
This Co.Development brought together six participants who each contributed $330k capital. The rest of the funds required to purchase the land and build the townhouses were borrowed from the bank. Each of the participants had the option of customising their internal layout adding features such as concrete-rendered ceilings and additional storage.
With a floor area ranging from 163 -175m² these residences are substantially larger than the average inner-city townhouse adding further to their long-term value.
Based on the final valuation at project completion, participants made an 84% return on their initial cash contribution. Beyond financial gains, this project demonstrates Co.Develop’s strength in delivering projects that don’t compromise on quality, with two of the six participants now calling this address home and the other four remaining as landlords
Project in numbers
6 townhouses & 1 office
6 participants
12 months town planning
15 months construction
Townhouse design
3 bed, 2 bath, 1 study, 1 car
Townhouse internal size
163 to 175m²
Per participant
$330k initial equity contribution
$1.27m cost to develop
$1.55m final valuation
Because we are effectively building for ourselves, we think deeply about the function of each space, how we can use every square inch, and what the experience of each space will be. That extends from details such as where to position power points and light switches, to larger decisions such as the building’s structural form.
Behind the walls of these impressive townhouses, the use of concrete floors on each level delivers soundproof internal spaces, while hot water heat pumps and acoustically treated glass add to the project’s significant sustainability features.
Smart inclusions
01
Concrete Floors
Each floor level and all-party walls are constructed of concrete. The use of this heavy weight material ensures building longevity and minimises sound transmission while maximising comfort.
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