Toby and Donelan with daughter London, 2, at the New York-inspired villa they are selling at Palm Beach. Picture: Glenn Hampson
Mum-and-dad developers Alex and Toby Donelan have taken a creative approach to their latest project to maximise returns by ensuring their grand vision was not limited by budget constraints.
The couple brought on a team of five private investor partners, who contribute either cash or released equity, and share in the profits when the modern duplex rebuild is sold.
The property is located in a popular southern Gold Coast neighbourhood.
It has been completely transformed into a contemporary and family-friendly home.
“We’ve met a lot of people who wanted to get into renovating but didn’t know how, which we saw as an opportunity to say, ‘we can take you on the journey with us, you can learn from us and get a significant return on your investment as well’,” Mrs Donelan said.
“A lot of people have either the time, the skill, the knowledge or the money but they don’t have all four.
“If we can share our knowledge, time and skill with people who have the money we can all benefit.”
Each investor typically contributes between $50,000 to $300,000, with returns ranging from 15-20 per cent per annum.
There are four bedrooms and three bathrooms.
Modern luxury throughout.
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Named Laguna House, the just-completed four-bedroom, three-bathroom home at Palm Beach is a complete transformation from the dated brown-brick building which stood before.
They demolished the old two-bedroom duplex and converted garage, designing a contemporary two-storey dwelling connected by internal archways.
Black framed French doors and a custom steel balustrade accent a crisp palette of whites, opening onto a travertine-tiled courtyard with plunge pool and entertaining area with built-in barbecue and bar seating.
The home goes under the hammer on August 19.
The crisp white palette is accented with black-framed glazing and French doors.
As former buyers’ agents, the couple specialised in securing investment properties for their clients across Australia, then advised them on how to best add value to their asset through renovation and upgrades.
The Palm Beach duplex on a 359 sqm lot is marketed by Harcourts Coastal agents Dan and Essie Moloney, and goes under the hammer on August 19.
It is the second completed renovation for the Donelans, who between them have two children aged 9 and 2, following their sale of a 5-bedroom Southport house for $1.55m in March — an uplift of more than 100 per cent from the purchase price the previous year.
Their upcoming projects include a family home in Elanora, and another Palm Beach duplex which will be converted into one house.
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