The lot parcel area for this project is substantial and with minimal contour. With favourable plot ratio, setback and building height restrictions this project was set to be a winner. However, the lot parcel included a historically significant building right in the middle which presented a number of challenges severely limiting the development potential of the site.
Phoebe Abbey House is a historically significant location for the Town of Busselton. As a heritage listed property it attracts a number of re-development conditions that need to be strictly adhered to.
At face value the the site would only produce 15 units including the heritage provisions required for Phoebe Abbey House. The clients feasibility required a greater ROI to make the project commercially viable. Property Genesis was approached to undertake a ‘Will it Fly‘ assessment to explore is the ROI could be improved.
Our approach was to scrutinise the strict heritage conditions applied to this property and to uncover any avenues for negotiation with the local authority and heritage commission. Congruently we assessed the local planning codes for any opportunities to introduce performance based solutions.
Our ‘Will it Fly‘ assessment uncovered a number of opportunities relating to plot ratio and building height which indicated a possible increase in the number units that could be developed. However, overshadowing was a restrictive issue.
By carefully space planning each unit type to minimise overshadowing we unlocked the opportunity to increase the plot ratio and reduce setbacks.The increase from 15 units to 19 drastically changed the ROI potential of the project.
Development Approval has been granted based on our negotiated approach. Our clients are preparing for construction in the near future based on a better than expected ROI scenario.