10 Point Apartment Pre-Sales Checklist

[caption id="attachment_2869" align="alignright" width="200"] Istana Apartments, Melbourne[/caption] To view or print this article in PDF, CLICK HERE Many apartment projects rely on pre-sales of up to 70% of a project's value to trigger the approval of finance from a funding institution to ensure the project proceeds. This can result in the expenditure of large sums of money on consultants' fees, legal costs and permit applications; a risky investment if pre-sales aren't achieved. The Istana apartments in A'Beckett Street, Melbourne are a typical case in point. This project comprises of 320 apartments, a multi-level car park, retail premises and penthouses. The construction value was approximately AUD$100 million and sales values of about AUD$190 million. The original client, Yucai Australia was keen to maximise their exposure and trigger their pre-sales quota as quickly as possible. The company purchased the site in February 2009, settled the purchase in July and by December had completed schematic drawings, obtained development approval and achieved 50% of their pre-sales quota. The key to this feat was teamwork involving close liaison between the client, Caulfield Krivanek Architecture, sub consultants and the sales team. The following document is our 10-point checklist for a successful pre-sales program.

About this Checklist This checklist has been prepared by Caulfield Krivanek Architecture. It is intended as a guide to assist prospective home owners to make informed decisions about the quality of a home before purchasing. The checklist should be read in conjunction with the Home Renovation Guide and Home Renovation Cost Indicator, available in the Caulfield Krivanek Architecture website. Contact Caulfield Krivanek Architecture on 03 8658 4000 to discuss your renovation project or the potential to improve an aging home. For many, the family home is the biggest investment they make. Yet several people launch themselves blindly into purchasing a home, without sufficient care taken to check the quality and condition of the property.

About this Guide This home improvement cost guide has been prepared by the Homesafe Group and Caulfield Krivanek Architecture in conjunction with Kidsafe to provide a guide to home owners contemplating undertaking home improvements, renovations and extensions. In addition to providing stunning, energy efficient buildings, Caulfield Krivanek Architecture is committed to providing safe environments for children, adults and seniors. Every year, approximately 300,000 children and 130,000 adults suffer preventable injuries in their homes. Your home improvement project will provide the opportunity to build a safer environment for you and your family. Home safety design does not add cost, nor does it compromise design integrity, but it could save lives. Additionally, a well-designed improvement is an excellent capital gains tax free investment. Robert Caulfield, Managing Director, Caulfield Krivanek Architecture