Originally posted by Davo36
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Conversion of Use of Property from Office to Residential
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Profiting from Property, not People
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**** me, in a cafe, just did a huge long post and lost it...
Are you saying to keep it as a commercial development - as in claim all the GST on the conversion expenses, but then pay GST on the sales?
If so, I think it helps with cashflow, but costs more in the long run.Squadly dinky do!
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Davo36 - cost of the fit out and associates permits and pen pushers around $150k each. Might get some savings doing 2 so allow beteeen $220k -$300k. We’ve just costed up a similar project to split a house into 2 dwellings.
one saving you haven’t mentioned is by being a residential building you won’t have to pay separately for EQC - I understand that is a big annual cost that will go away once change of use completed.
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Originally posted by Davo36 View Post**** me, in a cafe, just did a huge long post and lost it...
Are you saying to keep it as a commercial development - as in claim all the GST on the conversion expenses, but then pay GST on the sales?
If so, I think it helps with cashflow, but costs more in the long run.
You should be able to find a way to keep expenditure at 200k without too many compromises. A feasibility study is needed. What is the re-sale price of the completed apartments?Profiting from Property, not People
Want free help on taking your portfolio to the next level?
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Oh maybe $500k each.
I was expecting to be empty for 4-6 months. Office space can be hard.
But it turns out there were 3 tenants wanting to lease this space as offices. So it's leased now, deposit paid! Bit of an increase in rent too! Should have asked for more lol...
Weird, but I'll take it. Much less hassle than a conversion to apartments!Squadly dinky do!
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