Did you realise that the Melbourne median house price increased a staggering $70,000 in the 2009 December quarter to be at an all time high of $540,500?
Are you like many other property investors, who are scratching their heads and wondering where to look for affordable opportunities?
Mcorp Developments is excited to present its latest project - 16 Lawn Crescent, Braybrook, which gives investors the opportunity to:
Buy established property that meets bank’s strict lending criteria
Buy in the difficult to find sub-$350,000 price range
Have the ability to renovate and add value to the existing property
Access bank funding for the renovation so you can save your precious equity
Participate as an ‘armchair developer’ as new dwellings are constructed on the site and share in the profit generated
To view a more detailed brief of this project, including the psychology surrounding it, check out out the webinar from Jason below. It goes for about an hour, there is some thought provoking ideas and techniques covered here, and there is money to be made, so it's worth grabbing a coffee and a snack and taking the time. Sorry about the quality of parts of the recording, at the start - stick with it, it does get better:
About the Location
Amongst this inner western cluster of suburbs is the suburb of Braybrook. Located approximately 8km from the CBD it is an area undergoing substantial change as new home-buyers, squeezed by not being able to purchase in surrounding suburbs, move into the area.
The suburb is serviced by bus and rail networks, shopping complexes, park lands and is located within a 5 minute drive of Victoria University and the Flemington racecourse precinct. The graph below provides a summary of the apartment prices in Braybrook over the last 10 years.
About the property
Mcorp Developments has benchmarked 16 Lawn Crescent against the primary selection criteria used by leading banks:
Location – located in a quiet back street 16 Lawn Crescent is:
Located in Residential 1 zoning (not subject to Heritage overlay)
Approximately 200m from the route 10 bus that runs along Ballarat Rd
Approximately 600m from the Ashley Gardens shopping complex
Type – built in approximately 1970 the existing buildings are similar in architectural style to many surrounding apartment blocks making comparable sales for future valuations more accessible. The units are strata titled.
Age – the property is established with a proven sales history dating from the early 1970’s approximately.
Size – an established boutique block with only 12 existing units. There are a combination of 6 x 2 bedroom & 6 x 3 bedroom units all measuring approximately 83m2 internally and all having a separate car space.
Price – purchase prices will be in the $300,000 - $350,000 range which is around the median price where there is the greatest demand to buy and rent.
Style – 1970’s brick construction, which is easily identifiable in the surrounding area for future valuation purposes.
In addition to the existing buildings, from the aerial photograph to the right, you can see that there is substantial amount of vacant land available. The total land area is approximately 2,391m2 and presents an opportunity for future development. Mcorp Developments will seek the approval of additional residential dwellings to be built on this vacant area so that the site can be utilised for its highest and best use.
Please watch the video below if you would like to see a drive-by of this project:
About the project
Mcorp Developments have been responsible for overseeing in excess of 20 development projects comprising close to 200 boutique residential apartments/town houses totalling in excess of $70m.
This project will involve a two-stage process, which involves:
Internal and external renovation of existing flats.
Development of new dwellings on the existing subject land.
The before and after photos below, provide and indication of the style of renovation to be undertaken:
External Before
External After
Kitchen Before
Kitchen After
Bathroom Before
Bathroom After
If you would like to register your interest in this project or future projects please complete the form below:
A snippet of the East Timor road Jason
was talking about in the webinar
(Highway No.1
the Road from Dili to Com)
Amongst this inner western cluster of suburbs is the suburb of Braybrook. Located approximately 8km from the CBD it is an area undergoing substantial change as new home-buyers, squeezed by not being able to purchase in surrounding suburbs, move into the area. 
