Renders are marketing. Completions are evidence. Before you buy off-the-plan or invest into a developer’s fund, the single most useful due diligence is the completed record — what has actually been delivered, where, and to what standard.
Four questions to ask about any completed project
- Did the developer manage the site through to occupancy?
- Are titles issued and homes underway on the completed site right now?
- How does the finished product compare to the original render?
- How does the residual value of the neighbourhood compare to the sale price at launch?
Worked example: the Nexus Developments completed record
The Nexus completed record is currently four projects totalling $57.5M delivered.
The Clan Estate — $18M, 61 lots, Beveridge
Completed Northern Corridor community. 61 residential lots on Lewis Street, Beveridge. Delivered.
Armstrong Grove — $32M, Armstrong Creek
Completed Geelong / G21 corridor estate at 440-450 Horseshoe Bend Road. Sales for the next-door Boundary Road estate are now ongoing beside it — the completion is the direct proof point for the ongoing release.
66 Northcliffe Road, Edithvale — $5M
Completed boutique townhouse infill. Bayside south-east location.
246 Boronia Road, Boronia — $2.5M
Completed small-site infill development. The smallest project in the completed book — and useful because the operating discipline it took to complete transfers up to the $42M Brighton job currently in basement civils.
Completed is the only word that decides a track record.
How to use this framework
Ask any developer for their completed list. Not their pipeline. Not their under-construction sites. The completions. Then apply the four questions above. It’s the fastest due diligence you can do.
Nexus Developments — Melbourne multi-sector property development.
nexusdevelopments.com.au · +61 3 9460 1865