Look more closely at the remedial building work proposed for your strata scheme. Will the work increase the market value of the remediated properties?
An ‘upgrade’ looks beyond the immediate repair to consider a tangible return on investment.
The General Manager of Paynter Dixon’s Remedial Division, Tim Kurniadi, believes every remedial project has scope to increase the principal equity for lot owners. It’s a matter of eyeing the opportunity.
“Low scale work such as painting or replacing floor finishes can reap the value of an upgrade through simple yet smart decisions,” says Tim.
“There are multiple scenarios, such as the use of colour, or selecting particular tiles which markedly enhance the visual appeal for a minimal cost difference.”
“However, expertise in this area goes beyond the selection of materials to consider what can be achieved within the parameters of compliance, including council requirements. For example, remedial work undertaken as exempt development has constraints for tiling, including the size of the tile.”
Design expertise can make all the difference in the early stages of a project. As a multi-disciplined company, Paynter Dixon’s inhouse design team is regularly engaged to assess the upgrade opportunities.
“A lot of money can be spent in pursuit of a solution. However, our design expertise can gauge the feasibility of a specific approach before the client makes a financial commitment.”
Prior to commencing a major façade upgrade to a multi-storey strata residential address in Mosman, Paynter Dixon arranged a property evaluation by an independent real estate agent, factoring in the proposed scope of work. The ROI was accurately calculated in advance, with the resulting increase to property value exceeding the cost of remediation.
Working closely with the client, Paynter Dixon optimised sunlight and expansive views of Sydney Harbour, while also enhancing safety and comfort. Full-height glass with superior thermal properties replace existing windows, renovated juliette balconies feature stainless steel balustrades, and a new automated fire system can activate fire curtains and close windows and doors in an emergency.
In the case of the residential property in Maroubra, Paynter Dixon’s early design input saw the brief evolve beyond the initial waterproofing of four apartments. Enclosed balconies now serve as internal living areas, while newly installed guillotine windows capture sweeping views of the Maroubra coastline.
An upgrade or renovation often involves a major alteration to the built form. This is where experience in adaptation comes to the fore.
“It’s important to assemble a delivery team with specific knowledge and experience of that regulated building type. Of course, Class 2 is synonymous with multi-storey residential buildings.”
“As Principal Contractor, we take great care in appointing consultants who are experienced with the adaptation of Class 2 buildings because the benchmark of compliance under the Design and Building Practitioners Act is much higher.
“This experience is best placed in engineering solutions which sensibly meet the standard.”
As a multi-disciplined construction company, Paynter Dixon’s seamless ‘back of house’ coordination spans design and documentation, compliance, cost planning and contractor engagement. To learn more contact:
Tim Kurniadi, General Manager – Remedial