Development Type: Units

Zoning: R40 and R30/R40

Lot Area: 2366m2 and 1276m2

Housing Type: Single-storey strata

Development Project Overview

Summit Developments worked with a repeat client in Margaret River on two separate development projects: a set of 7 units and a set of 4 units. Following the success of a previous collaboration, the client approached Senior Development Consultant Ewan McConnell once again for a feasibility assessment and development strategy. The first project involved a 7-unit development in the heart of Margaret River, while the second project came up during construction when the client acquired a nearby block for a 4-unit development. Summit Developments provided comprehensive support through feasibility assessments, project management, and navigating complex new energy efficiency requirements. Both projects were highly successful, with one yielding rental income and the other showing strong potential for sale.

Key Insights

  • The client returned to Summit Developments after a successful prior project, entrusting us with two additional developments in Margaret River.
  • The 7-unit development was completed successfully, and all units were rented, providing the client with a strong rental yield.
  • The 4-unit block presented challenges due to new energy efficiency requirements, but Summit Developments worked closely with the client and the local shire to find an optimal solution.
  • The client found the journey with Summit Developments to be structured and well-prepared, which helped ensure the successful execution of both projects.
  • A strong ongoing partnership with Summit Developments has helped the client to realise the full potential of these developments, with plans for more projects in the future.

Development Project Goals

The client sought Summit Developments’ expertise for two projects that aimed to deliver high-quality, efficient residential units in Margaret River. The goal of the 7-unit development was to provide an income-generating asset, which the client has chosen to rent out for a solid return on investment. When the opportunity for the 4-unit block arose, the client engaged Summit for another feasibility assessment. The challenge with this second project was the newly implemented energy efficiency requirements, which required a more involved process. Summit Development’s role was to ensure these developments not only met regulations but also maximised their potential for the client, whether for rental income or potential sale.

Design & Development Process

For the 7-unit development, Summit Developments provided a full feasibility study for the client, helping him understand the best approach for the site. The process included a thorough analysis of the land, zoning, market trends, and rental potential. With the client satisfied with the feasibility, construction began, and the units were completed on schedule and fully rented out. This project delivered strong yields for the client, who has decided to hold onto these units for long-term rental income.

While the 7-unit development was underway, the client acquired a new block for the 4-unit development, located just a street away. Summit Developments worked closely with the client to assess the site and ensure the project met the new energy efficiency standards that had recently come into effect. This presented additional challenges, but Summit Development’s thorough understanding of local regulations and collaborative approach with the local shire resulted in a well-executed solution, allowing the project to proceed smoothly.

The 4-unit development offered the client the flexibility to potentially sell one or two of the units in the future, while still retaining an attractive investment. The design of this development considered the evolving market demands and energy efficiency standards, ensuring the properties remain highly desirable to prospective buyers or tenants.

Throughout both projects, Senior Development Consultant, Ewan, played an instrumental role in guiding the client through each stage, from feasibility assessments to final project completion. His expert advice, structured approach, and clear communication were key to the success of these developments.

Conclusion

Both the 7-unit and 4-unit developments in Margaret River have been successful for the client, thanks to the careful planning and expert project management provided by Summit Developments. The 7-unit development has been fully rented, delivering excellent returns, while the 4-unit block offers a promising opportunity for future sale or rental. The client has found immense value in the structured and well-prepared approach Summit Developments provides, building a strong, ongoing relationship that has maximised the potential of these projects.

The successful collaboration has been rewarding for both parties, with the client appreciating the consistent support and expertise of Ewan and the Summit Developments team. Looking ahead, the client is excited to continue working with Summit Developments on future projects, confident that our ability to navigate challenges and deliver successful outcomes will continue to help realise his investment goals.

Why choose Summit Developments for your next project?

  • Comprehensive Feasibility Assessments: We provide thorough, tailored assessments to ensure your development projects have the best chance of success.
  • Expert Guidance: Our Senior Development Consultants work closely with you every step of the way to ensure smooth, successful project delivery.
  • Proven Success: Our experience navigating complex regulations  means we can deliver projects that meet current and future demands.
  • Long-Term Partnerships: Summit Developments builds strong relationships with clients, providing consistent value and support throughout their development journey.