Project Seaton Update: March 2023

We can’t believe that March is here! So far, the year has been good to us and we’ve reached a few exciting milestones on our journey towards completing House Lambie. In case you missed it, here are the boxes we’ve been able to tick so far…

We received Plan Approval

Plan number 23/01/012 for House Lambie was officially approved and we were able to collect stamped plans at the beginning of March. With those in hand, we knew we would be able to start construction. Although our plans didn’t come through as quickly as we would have liked, in the grander scheme of things, we were only delayed by a few weeks.

We appointed our builders!

After much deliberation and a tender process, we decided to appoint Karl and Rob from KR Projects as the builders for House Lambie. They use a ‘cost plus management fee model’ which was attractive to us, and no matter how many people we asked, we could not find a bad review of them or their work. We were also most impressed with the homes they have already built on the North Coast, which we were shown to us on a recce. Both live 5 minutes from Seaton and only take on a handful of new builds each year, so we feel in safe hands for an honest and experienced build process.

Investec gave us the green light for funding

Investec has given us the bond that we require in order to build our home at Seaton. The total lending facility matches the total cost that KR Projects and our QS have estimated.  Cash flow is key, so structuring our lending to only pay interest on the money used will help us. The trick for us now is registering the bond as quickly as possible and in time to start making payments. Looks like we might have to float the first few payments by using some savings before the bond is in place as a new bond can take 6-8 weeks to register.

We broke ground on 7 March!

Last week on 7 March, we completed our site handover. Green shade cloth went up and it was officially go time for House Lambie. Earthworks started this week and the diggers, graders, rollers and excavators came out in full force. As the first home at Seaton to break ground this was both a proud and special moment for us. Next up… piling!

Watch this space for more updates and as always, make sure you’re following along on Instagram: @patlambie_

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