Constructing investment properties and dual occupancies is a specialised process, one that we are intimately aware of. There are a great number of pitfalls that the novice developer can stumble upon – potentially causing significant cost overruns, time delays and compliance complications. The benefit of our experience and wisdom in this sector is second to none, and is shared freely with all of our clients.
How it works
Macquarie Knight Constructions typically identify the best suited sites for investment properties and dual occupancies and offer these as packages to our clients. Our team has a comprehensive understanding of local council and state government requirements, and our streamlined systems ensure the approval process is expedited, and the onsite experience is compliant, timely and cost effective.
We can undertake as much or as little of the process as you require – typically our projects adopt the following process:
- Clients meet with us either with their own land, or ask us to identify suitable land for them on which to build a dual occupancy or investment property.
- After securing the land, our client provides us with some information about their wants and needs, and we commence the process.
- We meet with the client and establish their brief and budget, and ensure they have confirmed their finance is established.
- With a brief confirmed, we typically invoice the client for a commencement fee (which varies from project to project). This fee forms part of the overall contract value. It is charged to process the concept plan, contour survey and geotechnical survey of the nominated block.
- We commence works upon receipt of the commencement fee.
- Once the concept plan is completed, we typically go through a review process with the client. Once the client confirms the concept, we undertake a preliminary estimate and produce a tender.
- The plans and tender are presented to the client, and once agreed and signed, we progress to the signing of an HIA contract, and the payment of the balance of 10% of the contract value (less the initial fee paid in point 4). This generally occurs within 48 hours.
- Upon receipt of the signed HIA contract and 10% deposit, we commence the pre-construction phase of the project, which includes the compilation of: working drawings, engineering, specialist consultants reports, authorities reports, payment of fees, and lodgement of the DA/CC with the Local Government Authority.
- Once lodged, we monitor the approval process following a proven and systemised method, ensuring the application is dealt with in a timely manner.
- Upon approval, we commence the construction phase of the project. We commence onsite within 2 weeks of DA/CC approval. We invoice the client via progress payments at key milestones of the project, such as slab complete, frame complete, etc.
- Once lock-up is reached, we commence the subdivision process for a dual occupancy.
- When we reach practical completion and the final balance is paid, the Occupation Certificate is sought from the LGA. Once sourced, typically registration of the subdivision occurs within 4-6 weeks.
- We are able to assist with the sourcing of property management, tax depreciation schedules and ongoing grounds maintenance, should these services be required.
Contact Macquarie Knight Constructions today to discuss your own dual occupancy or investment opportunity with us, or visit our display home to meet with one of our experienced staff members.