DEVELOPMENT PRINCIPLES

For every single site purchased the Purple Sand team will have assessed and run feasibilities on at least fifty others, meticulously and methodically identifying suitable sites near transport, shops and other pertinent lifestyle amenities including parks, hospitals and schools.

The most important work undertaken is the work that goes into buying a site. Purple Sand prides itself on buying the right site at the most appropriate price for the planned development. All sites are extensively researched, analysed and are feasibility prepared. If the site is the ‘right’ site and it is purchased well, strong financial outcomes are more likely. Once a feasibility has been completed and approved the team starts on the best acquisition terms and conditions. Our purchase terms may not always appeal at first to vendors, so negotiations can be lengthy.

Prior to the site identification Purple Sand will have consulted with planners, architects, surveyors and other relevant experts, consuming many days of work. Most of the feasibilities are dropped through the process and few make it out the other end.

Once purchased, then the real work starts internally to determine the best way forward and the best proposal that maximises returns to investors. In addition, we need to consider the spread of the types of homes, to provide the “Purple Sand community” the best option and provide tenants the best variety for them to make decisions on taking on long term leases with us.

Combinations of 1,2,3 and 4 bedroom apartments need to be on offer and this diversifies the risk for investors as well as provides clients (tenants) with multiple options within our apartment base.

Our focus will continue to be Victoria and where possible within the Metro area. This is where our knowledge and base of consultants are and where we have deep understanding of the “lay of the land”. We believe our focus gives us a strong advantage, whilst mitigating risk by working with what we know and where we know.

Our team follows strong disciplines but never deviates from the main lesson of life for the property investor ... “you make your money when you buy”!