Melbourne Property Rejuvenation

Banksia St - Heidelberg



Sydney based client, 3 bedroom villa unit with front garden and rear courtyards circa 1980. Currently tenanted for $285pw. Agents value $ 320,000 -$ 350,000

Project Objectives

Increase value of property via full rejuvenation and lift current rental by 25%

Before Photos
Banksia kitchen view
Banksia Kitchen OLD
Banksia Bathroom OLD

Works carried out

Full strip out and replacement of Kitchen, bathroom, carpets, light fitting, switches, door handles, appliances, painting, window coverings, door stops. Garden refresh and garage clean thrown in!

After Photos
Banksia St Kitchen Finished
Banksia Kitchen 2
Banksia bathroom

Project statistics and results:

Time ro complete: 7 weeks
Rental before: $ 285 per week
Valuation before: $ 320 - $ 350k
Cost of works: $ 29,800 (Included removal of wall)
Rental after: $ 410pw (69.5% increase or $ 6500 pa)
Valuation after: $ 350 - $ 380k
Time to re-lease: 1 week

Source: Louis Christou, Director Christou &Co R/E Eaglemont Vic

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