What’s the cost per lot across SEQ Growth Corridors

Back

Analysed data to calculate the average cost per lot cost for greenfield development across the various SEQ growth corridors.

By Troy Schultz

We know that developers need to act quickly to secure development sites. Quite often a quick, informed assessment of a site using typical revenue and cost data is sufficient to enable a site value to be ascertained and a high level offer put in front of the vendor. To assist our clients, we have collated and analysed data to calculate the average cost per lot cost for greenfield development across the various SEQ growth corridors. This data is based on 104 projects across 23,000 residential allotments (78 projects in feasibility stage and 26 projects in delivery). Project size ranges from 20 to 2,000 lots.

The following summary shows the average per lot costs as well as a high/low range observed across projects in each region. As the data shows, costs can vary significantly from project to project, largely driven by the uniqueness of each site, specific infrastructure servicing and the local market dynamics such as material supply rates and lot sizes. Whilst we acknowledge nothing beats a comprehensive due diligence, the average figures presented below can act as a good rule of thumb for an initial higher order assessment (with DD to follow on).

Table 1:  Average Internal, External and Total Developments Costs

  Internal Civil 1 External/Major Civil 2 Total Development Costs 3
Region/Area Average per Lot
Sunshine Coast $40,299 $15,688 $82,154
Moreton Bay $42,968 $16,966 $105,434
Brisbane North $51,780 $30,027 $121,394
Brisbane South $38,961 $10,312 $94,889
Ripley Corridor $43,630 $11,315 $99,025
Flagstone Corridor $36,535 $8,429 $90,117
Logan Reserve/Park Ridge Corridor $37,397 $10,721 $85,512

1. Civil costs to service allotments.
2. Civil costs not directly associated with servicing allotments.
3. Includes civil, electrical/comms, Authority fees, contributions and offsets, professional fees and 10% contingency.

Table 2:  Average Development Costs with High/Low Range

  Internal Civil External/Major Civil Total Development Costs
Region/Area Average Low High Average Low High Average Low High
Sunshine Coast $40,299 $33,930 $72,881 $15,688 $       – $19,688 $  82,154 $74,397 $127,600
Moreton Bay $42,968 $27,985 $50,277 $16,966 $       – $35,878 $105,434 $72,372 $129,756
Brisbane North $51,780 $34,153 $65,873 $30,027 $       – $80,015 $121,394 $79,315 $172,754
Brisbane South $38,961 $27,695 $58,472 $10,312 $       – $28,675 $ 94,889 $69,388 $128,072
Ripley Corridor $43,630 $32,070 $68,469 $11,315 $2,928 $40,377 $ 99,025 $79,496 $126,350
Flagstone Corridor $36,535 $34,362 $38,241 $ 8,429 $       – $93,491 $ 90,117 $84,510 $ 93,491
Logan Reserve/Park Ridge Corridor $37,397 $31,800 $ 55,135 $10,721 $   556 $17,093 $ 85,512 $75,242 $107,752

For convenience, we have also shown this data in an infographic map. Click here to access the map.

As we stated, nothing beats a good comprehensive DD, however the data presented here should be useful for high level assessments and benchmarking purposes. We would be happy to discuss any of the data and assist in developing more detailed cost estimates to assist with your next project.

Read more

What’s the Development Cost per Lot across the SEQ Growth Corridors?

7 September 2021 – Do you know how much it cost to develop a site in Moreton Bay? How about Logan, Ipswich, Brisbane, or the Sunshine Coast?

Read more

Bringing Projects Forward and Developing Out of Sequence – A Drainage Perspective

31 August 2021 – We spend a lot of time figuring out ways and coming up with ideas to help our clients bring their projects forward

Get in touch

To get in touch with our team, click through to be taken to our online form.

Contact us

General Enquiries

Brisbane

Level 4
196 Wharf Street
Spring Hill, QLD, 4000

07 3532 1300

Email us

Sunshine Coast

Level 2
1 Innovation Parkway
Birtinya QLD 4575

07 5413 5300

Email us

Melbourne

Level 1
1-5 Nantilla Road
Notting Hill VIC 3168

03 9562 7424

Email us