$2.6M
GRV on a site nobody wanted
A fire, an emergency order and an easement — three blockers at once. Sequenced as a single program rather than five separate problems, it became a fully funded four-dwelling development.
A site in Norlane, Geelong, acquired for a four-townhouse development, funded with a La Trobe first mortgage and a Portica second mortgage, with a $492,000 second-mortgage tranche supporting a project of about $2.6M.
A building fire. The existing dwelling on site burned, triggering an Emergency Order from the City of Greater Geelong requiring demolition and a visual clearance certificate for asbestos-containing materials — a compliance obligation with a council-enforced clock on it.
An easement running through the site. The proposed built form required a build-over-easement application, coordinated with the council's Report and Consents team, Barwon Water and the project's engineers.
Fire engineering and services design across multiple consultants — fire safety engineer, structural engineer, hydraulic and plumbing, drainage and building surveyor — all needing to align before construction certification.
Ran it as a single coordinated program rather than five separate problems: dealt with the council's municipal building surveyor directly on the Emergency Order covering demolition scope and asbestos clearance, had the arborist and engineering reports commissioned in parallel rather than in sequence, and kept the easement application moving alongside the fire remediation so neither became the other's blocker. Consultant fee proposals were tendered and compared rather than accepted on the first quote.
Valuation returned a GRV of $2,600,000 and NRV of $2,400,000 under the margin scheme, against a fixed-price building contract, with a first drawdown structured at 80% all-up. A distressed, fire-damaged, easement-encumbered site became a fully funded four-dwelling development.
Most buyers walk away from a site with a fire, an emergency order and an easement. Knowing how to sequence council compliance, consultant engagement and lender drawdowns turns a site nobody wants into one that stacks up.
This case study is a representative example. Full details and figures are available on request — get in touch to discuss a comparable structure for your project.