22 Rooming House (Kthryn & Kenneth Bondoc)
970m2, MU1, Cardiff, New South Wales
Ever started a deal thinking you’ve got the perfect strategy… only to realise the numbers just don’t work?
It happens more often than you think. You spend months working through a Development Application, running feasibility after feasibility, and then reality hits, the project simply doesn’t stack up the way you planned. Then come the delays… council approvals dragging on… and lenders scratching their heads because your project doesn’t fit neatly in their box.
This is where many mum and dad developers get stuck.
At our next meetup, Kthryn and Kenneth Bondoc will walk you through a real project where the original plan — a mixed use commercial and residential development — simply didn’t work. Instead of forcing a bad deal, the sibling duo pivoted the strategy and transformed the project into a new generation boarding house development.
But that pivot came with its own challenges.
Long approval timeframes for the DA, complex funding because of the asset class, and the need to rethink the entire project strategy. The good news? Once the approvals were in place, the tender and construction phase ran incredibly smoothly.
In this Real Deal presentation, Kthryn and Kenneth will share the behind-the-scenes reality of the project, including:
• Why the original townhouse strategy didn’t stack up
• How they identified a better development strategy
• The approval hurdles that slowed the project down
• The complexities of funding a non-standard asset
• How the project came together during construction
• How they secured a headlease with a disability provider
If you’ve ever had a deal that didn’t quite go to plan or you want to learn how experienced developers adapt when the numbers change, this is a session you won’t want to miss.
Because sometimes the best deals aren’t the ones that go perfectly…
They’re the ones where you pivot, adapt, and make the deal work.