Status: Completed
Services: Feasibility, Design, Approvals, Construction
Client: Investor
Scope: Entire apartment renovation including layout reconfiguration
This Inner West apartment renovation transformed an underperforming one-bedroom unit into a high-yield two-bedroom investment property.
Located in a high-demand rental pocket near transport, lifestyle amenities and recreation hub, the property was originally rented below market value and presented with original 1980s finishes.
Rather than applying a cosmetic upgrade, the strategy focused on layout optimisation and controlled renovation scope to increase rental return.
Snapshot
The property was unable to attract market rent primarily due to its aged condition.
The challenge was to increase rental income within a compact apartment footprint while keeping construction risk and cost tightly controlled.
Key challenges:
The feasibility report investigates whether increased rental income is possible for the apartment and how the renovation should be carried out to maximise the rental increase potential.
 It analyses the rental market and demand, design and approval risks, construction complexity and total project cost.
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Findings
The 2-bedroom conversion showed significantly stronger return potential than a standard cosmetic upgrade.
The renovation design was based on the feasibility findings, targeting flexibility, durability and long term rental appeal.
Given that the there was a higher rental uplift potential for the 2 bedroom reconfiguration, the layout was configured to suit either couples or flat mates.
Final design elements:
This value-engineering approach ensured the finished apartment aligned with what Newtown tenants actively look for.
As works were internal, council approval was not required. However given the impact to common property due to the bathroom renovation and minor structural works, approval was required at a Strata General Meeting.
Clear documentation  and a well-defined scope enabled a smooth approval process.
Approval Summary
Construction risks were identified early during feasibility stage, allowing the build to proceed smoothly. The project was completed in approximately six weeks with minimal disruption to residents.
Construction Highlights
The property was unable to attract market rent primarily due to its aged condition.
The challenge was to increase rental income within a compact apartment footprint while keeping construction risk and cost tightly controlled.
Key challenges:
The feasibility report investigates whether increased rental income is possible for the apartment and how the renovation should be carried out to maximise the rental increase potential.
 It analyses the rental market and demand, design and approval risks, construction complexity and total project cost.
Â
Findings
The 2-bedroom conversion showed significantly stronger return potential than a standard cosmetic upgrade.
The renovation design was based on the feasibility findings, targeting flexibility, durability and long term rental appeal.
Given that the there was a higher rental uplift potential for the 2 bedroom reconfiguration, the layout was configured to suit either couples or flat mates.
Final design elements:
This value-engineering approach ensured the finished apartment aligned with what Newtown tenants actively look for.
As works were internal, council approval was not required. However given the impact to common property due to the bathroom renovation and minor structural works, approval was required at a Strata General Meeting.
Clear documentation  and a well-defined scope enabled a smooth approval process.
Approval Summary
Construction risks were identified early during feasibility stage, allowing the build to proceed smoothly. The project was completed in approximately six weeks with minimal disruption to residents.
Construction Highlights
The completed renovation repositioned the property as a competitive two-bedroom rental in the Inner West market, materially increasing income potential.
The conversion broadened tenant appeal, reduced vacancy risk and strengthened long-term asset value.
Rental Uplift
Return on Investment
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