This Redcliffe Peninsula Property is a low-set brick home with 4 Bedrooms, 1 Bathroom & 2 Car Spaces (double LUG) on just under 1000sqm block.

It features:

  • a large fully fenced in-ground pool with partially completed water feature
  • 2 Bedrooms with Built-ins, 1 without & a 4th Bedroom with room to build in a Walk-in Robe and Ensuite
  • Dated Kitchen and Dining area that flows out to a covered rear patio
  • large living area/loungeroom
  • stripped out bathroom and separate toilet
  • fully fenced yard, DLUG/Workshop, garden shed, double-gated side access

The Owner has been making some DIY changes to the property over time, including:

  • stripping out the bathroom, adding dual-shower heads where the bath used to be and partially tiling with very dark tiles (to be removed), however it is mostly a blank canvas ready for a new modern bathroom installation.
  • built a large ‘water-feature’ structure at one corner of the pool with leaky plumbing and partial slate tiling externally (finish or remove)

It is a distressed property as there has been a separation and the bank are looking for an unconditional contract before 4th October 2018.

Planned Renovations:

Big Ticket Items

  • Install new Kitchen Cupboards, Benchtops, Sinks/Tapware, Appliances, Lighting, Walls/Skirts/Ceiling painted, Tiled Flooring & Window Furnishings
  • Install New Main Bathroom with new Bath, Vanity, Shower Screen, Tapware, Mirror, Wall & Floor Tiles, Lighting/Fan/Heat, Towel Rails, Paint & Window Furnishings
  • Install New Ensuite with Framework, Sheeting, Door, Plumbing, Electrical, Waterproofing, Vanity, Shower, Fixtures & Fittings, Wall/Floor Tiles & Wall/Ceiling Paint

All Other Works

  • Remove 45sqm tiles from Kitchen/Dining/Living floor areas (first) and replace with laminate floor boards or vinyl planks (last)
  • Install led downlights in Kitchen/Dining/Living areas
  • Install underlay & carpet in all 4 bedrooms (last), build in robe in Bedroom #3
  • Install Light Fans and new switches in all bedrooms, renew power points as necessary
  • Paint all ceilings and cornices (formulated anti-mould ceiling paint in wet areas)
  • Paint all walls, skirtings, architraves etc. in our strategic modern colour scheme
  • Repair/replace screens, minor general internal repair and refresh required, replace door handles and other fixtures as required
  • Paving Paint Patio floor, paint ceiling beams and replace lighting (Rear Entertainment Area)
  • Remove partially constructed water feature from pool, replace 6-8 pool edge pavers and install rubber pavers in poolside area
  • Clean up DLUG/Workshop, pressure clean all concrete slab & driveway
  • Using timber boxing, soil, mulch, bark, pebbles and new plants to create strategically placed garden beds to compliment the simple but effective landscaping front & back
  • Repair/replace some areas of timber fencing (minor) and paint sections as required
  • Replace Letterbox with Timber Panel Letterbox

Project Funding Required: $470,000.00

Funding Period: 4 Months (Actual Estimated is 3 Months)

Rate of Interest to Private Lender: 20% p/a over 4 Months = $31,300.00

The Feasibility Financial Summary table is below: