However, after negotiating alongside my business partner, we agreed upon a figure of $725,000. We purchased the site under a 6 month option, with 1 month extension. It had an approved Development Application and required a Building Approval before we could start. Through friends and networking we managed to raise half the funds – vendor finance was how we gathered the rest. The BA is now complete and we are working on pre-sales prior to construction this year.
– Mike Coaker
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