GRR 4.08% 25.5¢ grange resources limited.

JGPM, didn't you read my post. The only sales in the area that...

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  1. 4,695 Posts.
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    JGPM, didn't you read my post. The only sales in the area that coincides with the description was the units 1 to 4 at No 2 Lumley Court in Prahran, all settlements were in March 2018, Unit 1 ($770,000) Unit 2 ($860,000) Unit 3 ( $710,000) Unit 4 ($710,000)  Total $3,050,000 + stamp duty etc.
    So, Grange paid the lot.
    The block of land is 642 sq m and they plan to build 5 units and the estimated cost for the project is $4 million, as per Council Documents.
    Therefore already we have costs of $3.2 million +$4 million. = $7.2 million.  The 5 x units have a bare cost of $1.44 million each.
    Where is the profit?
    Who is going to pay $2 million for a unit when the units opposite are $280,000 and under.
    You'd have to be an idiot to pay that much for a unit in this development.
    You can buy a luxury unit in the area ie. MARQUE in 202/105 High Street Prahran cost $778,000

    For $1.45 million I can buy a luxury unit in Brisbane CBD  above the new Westin Hotel
    https://www.marylanebrisbane.com.au/#modal
    1. Levels 24-35 Two Bedroom (102-120sqm) – Premium (1 car park) – From $910k
    2. Levels 24-35 Three Bedroom (152sqm) – Premium (2 car parks) – From $1.45m - $1.55m
    Mary Lane.jpg
 
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25.5¢
Change
0.010(4.08%)
Mkt cap ! $266.1M
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24.5¢ 25.5¢ 24.5¢ $277.9K 1.118M

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1 8697 25.0¢
 

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Price($) Vol. No.
25.5¢ 300014 8
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