Knock down rebuild Reservoir.
Interesting conversation I had with a developer last week he was saying how he was cleaning up doing knock down rebuilds in Reservoir and Preston. He was saying that he couldn’t work out why the home owners weren’t doing the knock down rebuilds themselves. The only reason we could come up with is they don’t realize how much money they could make. Available vacant land in Reservoir and Preston is none existent so the only way to acquire vacant land is a knock down rebuild. There is a shortage in the area for townhouses, dual occupancy homes and units so there are no problems selling the buildings when completed or even selling off the plan is not a worry.