Vesi were engaged to determine the most appropriate option for maximising the return from the proposed sale of a residential property in Camp Hill in Brisbane.  The house had been rented for many years, and had incremental additions constructed in past decades.   Vesi reviewed the potential of partial demolition and subdivision, major renovation for resale, and minor renovation for resale.   Full demolition and subdivision was discounted due to the dwelling being protected, and lack of council support for demolition of similar or more degraded dwellings in recent years.  The cost of modifying the existing dwelling to enable potential subdivision, alongside planning risk in regard to the zoning, was also found to make this option inappropriate.  Very substantial renovation and addition options were investigated and a moderate renovation that targeted key deficiencies in the existing house, and maximised internal connection and external outlook, was found to be the most appropriate response for sale of the asset.  The input of experienced sales agents and an experienced builder was utilised to determine potential sales returns and costs of the options investigated.  During the review process Vesi suggested including renovation to rent and hold as an additional option for consideration, and obtained feedback from an experienced rental agent.  This additional information has enabled the clients to also review with their financial advisors the potential financial benefits of holding the property, based on an assessment of their personal circumstances.

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Camp Hill aerial view courtesy of Google Earth