08/06/2004 - 22:00

Joint venture aims to simplify development

08/06/2004 - 22:00

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PROPERTY development is moving into the realm of mum and dad investors with a joint venture between two BGC subsidiaries, Impressions the Homebuilder and J-Corp, pitching its services to the growing numbers of investment property owners wanting to develop their land.

The joint venture, called Develop Plus, plans to launch an advertising campaign to the general public this weekend after refining the idea on its own properties for the last two years.

Develop Plus general manager Damon Stroud claimed the idea is an Australian first.

Mr Stroud said the concept took the development risk and cost out of the hands of the property investor, a huge market that has grown swiftly as land prices have boomed.

“Develop Plus offers a service which will develop a block without owners having to spend a cent,” he said.

“Basically we subdivide sites and then sell them off the plans with a contract to build, and the investor makes a profit without even having to have a brick laid.

Mr Stroud said traditionally an investor wanting to develop their own property had to go through the subdivision, construction and sale process themselves.

Without the right experience this could lead to cost blowouts, delays and did not guarantee a sale at the end of the day.

“It is not actually a hard process, you just have to know how it is done,” he said.

“We offer owners the same, if not more profit without the outlay or risk.

“We have the biggest builder in Australia behind us (BGC) and we aim to be the largest unit developer in WA in 12 months’ time.

“Our machine is ready to go – we have architects, builders and sales people who know what we are doing, and the proof of success is on the ground with our own stock.

“We will not only do everything for them, pay everything for them, we will have all the properties sold for them as well.

“All this in around half the time it would take them to develop.

“They will not have to worry about plans, about negotiating with builders, about choosing colours etc.”

Develop Plus will only be targeting inner suburbs with proven capital growth, rental occupancy and re-sale potential.

“We won’t take on sites that won’t work, because otherwise we won’t make money,” Mr Stroud said.

He is not concerned about recent speculation predicting a downturn in the housing market either.

“A good quality product never stops selling, people always want to make money and there is high demand in the market for value added investment property.”

City of Belmont business development manager Peter Schifferli told WA Business News Develop Plus had done some work in Belmont.

“Being an inner suburb, we are going through a redevelopment phase, and we are happy to attract builders of a high calibre,” he said.

“Develop Plus has an innovative concept, a quality product, and a clear passion for what they do.”

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