Given the fact that we tend to prioritise buying character homes (they are, after all, one of the key pillars of what we deem a ‘Milk Chocolate property’) many of our construction projects require us to work with dwellings from bygone eras: Victorian terraces, quaint workers’ cottages, Californian bungalows and many more across the country. In Sydney in particular, though, we handle a number of beautiful art deco units.
Such was the case for a recent construction project in the beachside ‘burb of Bronte: a stunning art deco apartment for our clients to use as a bolthole when they return to Australia.
Packed with natural light and sitting right on the beach, the property already boasted several fundamental advantages. Our objective was simply to capitalise on these by creating a bright and breathable space with open-plan living and a homelier feel, and to modernise the apartment while paying respect to its heritage.
Over a 30-week period (eight on planning and 22 on the build) and with a $235,000 budget, we undertook a fairly significant structural and cosmetic renovation to achieve our goal.
Most notably, we removed the column from what is now the living and dining area to take advantage of the sweeping beach and park views. Doing so also allowed us to completely open up this space, creating a living area that’s much more relevant to modern standards and feels bigger and brighter.
To make the kitchen more functional, we extended it into the living area and integrated a dining bench off the edge of the kitchen island. We also made the apartment more conducive to working from home by converting the existing laundry space into a dedicated home office. Cosmetic touches included new flooring, repainting throughout and updates to the bathroom.
The end result is a really nice balance of old and new that combines the beautiful character features of the apartment with contemporary design and materials. From a financial perspective, the property was purchased for $1,682,780 in November 2020, with $235,000 spent on the renovations, the property is now worth $2,300,000. The net profit is $381,793 or 22.6% (which is 11% per annum).
Looking to undertake a renovation or building project? Book a complimentary 30-minute session with a member of the Milk Chocolate construction and design team by clicking here.
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