The Brief
The owners of this Ipswich property had held it as an investment for nearly a decade. Wear from long-term tenancies had accumulated, and while the bones of the home were solid, the property was presenting poorly against newly renovated comparables in the area. A traditional listing would have meant competing on price against better-presented properties, or waiting months for a buyer willing to take on the work themselves.
The owners approached Eleva Property looking for an alternative to accepting a heavily discounted as-is sale price. With the western Ipswich corridor attracting renewed buyer interest — driven by Springfield's continued growth and improving infrastructure — the timing was right for a targeted renovation before going to market.
The Execution
After an initial assessment and comparable sales analysis, Eleva structured a Property Partnership with the owners. Works were scoped and documented upfront, with a clear floor price and agreed profit-share arrangement before a single tradesperson was engaged.
The scope covered:
- Exterior extension to the rear — adding covered outdoor living space to the existing footprint
- Full exterior repaint including fascia, gutters, and fencing
- New vehicle crossing poured at the front — replacing a cracked and uneven existing entry
- Interior full repaint in a warm neutral palette
- New flooring throughout — existing worn carpet replaced with durable LVT
- Bathroom refresh including new tiling, vanity, and fittings
- Kitchen update — new benchtops, handles, and splash
- Landscaping front and rear including lawn revival, mulching, and new plantings
- Professional styling and photography for the listing campaign
Extension framework — before roof
Completed extension
Extension — side elevation before roof
New vehicle crossing
The Timeline
The project ran nine weeks from agreement signing to settlement. The first two weeks were planning and material procurement. Structural works for the extension — including permits, framework, and roofing — ran through weeks three to six. Interior works, landscaping, and styling were completed in parallel during weeks five through eight. The property listed in week eight and sold in the first campaign weekend.
Completed exterior — after repaint
Bathroom — renovation complete
The Outcome
The property sold at $112,000 above the pre-renovation floor assessment. After renovation costs were recovered, the owners received their agreed share of the profit — a significantly better outcome than a direct as-is sale would have delivered. The owners had no out-of-pocket costs at any point during the project.
The extension added genuine functional value — buyers in the Ipswich corridor prioritise outdoor living space, and covered al fresco areas consistently attract premium offers. The new vehicle crossing removed a presentation negative that would have been visible in every listing photo.
What Made This Project Work
- Suburb-specific scope: Ipswich buyers at this price point value outdoor space and presentation over luxury finishes. The extension was targeted precisely at what the market was paying for.
- Speed of execution: Ipswich's western corridor was active. A property that lingered would have faced more competition. Nine weeks to settlement was competitive.
- No owner involvement required: The owners were not local to the property during works. Eleva managed all access, trades, and quality control independently.
- Aligned incentives: Under the Property Partnership structure, Eleva's return depended on achieving the highest possible sale price. Both parties were pulling in the same direction.