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  1. #11
    Join Date
    Mar 2011
    Posts
    123

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    Quote Originally Posted by John the builder View Post
    Lifting a house and building under is possibly the hardest building task but commonly done. If a sloping section perhaps it doesnt even need lifting?
    Thanks for the reply John. The house is already somewhat 2x story but the bottom floor is half dug-out into dirt. Just used for storage so we need to support and get the house leveled. We are considering moving it forward on site too white they have the gear there to level/support it. This would enable us to subdivide off the rear minor unit we have already constructed, and position the house better on the new site so we can develop or add on to it at a later stage if we want to. We will need to do some earthworks.

  2. #12
    Join Date
    Dec 2013
    Posts
    102

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    I have a friend who owned a very old 3-bed Villa on a site in central Wellington near the top of Cuba St which he wanted to redevelop. If memory serves me correctly, the house may have been protected due to its age and heritage value, making redevelopment pretty unfeasible. Not to be defeated, he jacked the house up and built a 2 storey tilt-slab commercial building underneath it, with stairs leading to the house on the roof. The commercial building virtually takes up the entire plot, and the house now rests on top. As the commercial building's footprint is much larger than the house, the house now essentially has an expansive balcony wrapped around the entire perimeter with great views of the harbour.

    The ground floor warehouse and first floor offices are rented out to a business, while the 2nd floor house is a residential rental. I have been to the house several times since the work was completed about a decade ago. It's an amazing feat of engineering which saw the GV of the property rise from $175k to $550k at the time of completion. It's currently worth around $1 million. He paid $60k for the site in 1994. I am not sure what it cost him to do but he's a pretty savvy investor so I assume he's done alright out of it - I imagine he created a phenomenal increase in cashflow from the development.

  3. #13
    Join Date
    Mar 2011
    Posts
    123

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    Quote Originally Posted by SimonW View Post
    I have a friend who owned a very old 3-bed Villa on a site in central Wellington near the top of Cuba St which he wanted to redevelop. If memory serves me correctly, the house may have been protected due to its age and heritage value, making redevelopment pretty unfeasible. Not to be defeated, he jacked the house up and built a 2 storey tilt-slab commercial building underneath it, with stairs leading to the house on the roof. The commercial building virtually takes up the entire plot, and the house now rests on top. As the commercial building's footprint is much larger than the house, the house now essentially has an expansive balcony wrapped around the entire perimeter with great views of the harbour.

    The ground floor warehouse and first floor offices are rented out to a business, while the 2nd floor house is a residential rental. I have been to the house several times since the work was completed about a decade ago. It's an amazing feat of engineering which saw the GV of the property rise from $175k to $550k at the time of completion. It's currently worth around $1 million. He paid $60k for the site in 1994. I am not sure what it cost him to do but he's a pretty savvy investor so I assume he's done alright out of it - I imagine he created a phenomenal increase in cashflow from the development.
    Sounds like a bloody good result for your friend there SimonW. I'm sure there was a lot of work in dealing with the council on that one.

  4. #14

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    He got that through the WCC?

    Gold star for that investor. I had to get a resource consent to add a window.
    Free online Property Investment Course from iFindProperty, a residential investment property agency.

  5. #15
    Join Date
    Dec 2013
    Posts
    102

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    Quote Originally Posted by Nick G View Post
    He got that through the WCC?

    Gold star for that investor. I had to get a resource consent to add a window.
    Yea not a bad effort - it's the pink building in the below shot.


  6. #16
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    7,999

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    Quote Originally Posted by Nick G View Post
    He got that through the WCC?

    Gold star for that investor. I had to get a resource consent to add a window.
    Oh man... I feel ya.
    Squadly dinky do!

  7. #17
    Join Date
    Mar 2011
    Posts
    123

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    Quote Originally Posted by SimonW View Post
    Yea not a bad effort - it's the pink building in the below shot.
    Sounds bloody good Simon. I wish we could hear more about the stats on that one. Cashflow pre and post etc. Thanks for sharing. Since this development was completed, did you use it for inspiration for something of your own?


 

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