Knockdown rebuild townhouse development within Melbourne metro growth area
- Purchased 2007 – construction completed 2024
- Project type: Knockdown rebuild townhouse development within Melbourne metro growth area
- Dwelling type: 3 X Double Story Townhouses:
– Unit 1: 4 bedrooms, 3 bathrooms, 2 car garage
– Unit 2: 2 bedrooms, 2 bathrooms, 1 car garage
– Unit 3: 3 bedrooms, 2 bathrooms, 2 car garage - Total project cost: $1,910,800
- Land cost: $408,000
- Build & site cost: $1,502,800
- Land size: 931m2
- Build size: 614m2 (Unit 1: 250m2 / Unit 2: 161m2 / Unit 3: 203m2)
- Rent return: $2,275 total per week (Unit 1: $900 / Unit 2: $625 / Unit 3: $750)
- Purchased: 2007 (construction completed 2024)
Current value (2025): $2,750,000 (Unit 1: $1,050,000, Unit 2: $770,000, Unit 3: $930,000)
Location profile*
One of Melbourne’s strongest property markets, affordable, consistently low vacancy rates. Strong infrastructure spending, strong economy. Rapid population growth in the area demands new housing estates. Home to 390,000 people and forecast to rise 40% to 550,000 by 2041.
Improved access to central Melbourne via the Monash Freeway. State Government has extensive infrastructure plans for region including recently devised Precinct Structure Plans for 16 areas in the LGA. Casey promises to be a strong performer for property owners.
- Casey Central Town Centre -master planned community Berwick Health, Innovation & Education area
- Narre Warren future major urban employment hub
- $1 bill Monash Freeway upgrade
- $565 mill hospital project
- $390 mill of shopping centre upgrades
- $1.2 bill logistics estate.
- Plans to spend $450 million on such infrastructure, including sporting and recreational facilities, over the next 20 years.
*Information correct as at May 2025.
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