Embankment Grove - Block Renovations Series, Part 1
By | 31st May 16

Embankment Grove, Chelsea – Group Block renovations: Part one

Chelsea is a bayside suburb located approximately 40kms south from the Melbourne CBD and is a popular spot for families and older couples who enjoy the bayside lifestyle. We are excited to bring you on the transformation journey with our Group Block service and share the outstanding results from start to finish.

About the Block:
This boutique block of units is conveniently located just moments from the beach and features a block of 2 one bedroom villa units, and 4 two bedroom villa units.

Once rejuevnated, the rental return is estimated to appreciate for each unit to approximately $250- $320 per week. Currently the rental return for a 2 bedroom in this building is as low at $160 per week.

The Investment:
After the Owner’s Corporation was established, all six investors agreed to contribute between $15,000 -$20,000 to go into the renovation of the external façade and any additional structural works for the building. The original façade (featured below) is dated and the decision to render the outside will rejuvenate the whole look of this group block. It’s all about street appeal and we think the a new rendered façade will make it striking, modern and timeless.

The renovations:
Apart from updating the external façade, the Owner’s have decided to further revitalize other areas on this Embankment Grove property. The extent of works includes replacing the tired and old gutter and down pipes with new ones, as well as replacing the current cracked concrete pathways and driveways. 

Over the coming weeks we will be posting part 2 of the renovations and reveal the final results!