Gross realisation valueGRV
Total revenue expected from selling every dwelling in the project, before selling costs, GST, or any other deduction.
- Gross development value (GDV)
Formula
WhereSum the price of every dwelling, every car space, and every storage cage you intend to sell.
Why it matters
GRV sits at the top of every residential feasibility. Profit, margin, residual land value and peak debt all derive from it. A 5% error in GRV cascades into a 5% error in every downstream number.
Worked example
A 28-apartment scheme in Waterloo with 12 × 1-bedroom at $720,000, 12 × 2-bedroom at $1,050,000 and 4 × 3-bedroom at $1,480,000, plus 22 car spaces at $65,000 each.
- 1-bedroom: 12 × $720,000 = $8,640,000
- 2-bedroom: 12 × $1,050,000 = $12,600,000
- 3-bedroom: 4 × $1,480,000 = $5,920,000
- Car spaces: 22 × $65,000 = $1,430,000
GRV = $28,590,000. Gross, before agent fees, marketing, or GST.
Related terms
Connected ideas in the glossary.
Questions
Frequently asked
Is GRV the same as gross development value (GDV)?
Yes. The two terms are interchangeable. GRV is more common in Australian residential development; GDV is more common in the UK and in commercial work.
Should GRV include GST?
Convention varies. Most Australian residential feasibilities quote GRV inclusive of GST and then back out GST as a separate line. Confirm which side of the line you're on before sharing a number.
How do I check my GRV is reasonable?
Pull recent comparable sales for the suburb, dwelling type, and size. The most common error is assuming today's price holds at completion two or three years away.
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