May I suggest that you go to your local agents and ask what would be the best to build and what sort of returns you would expect from what you will build.
Also if the numbers stack up before you start building as soon as plans are drawn and you have quotes from builder, start your sales campaign.
Even if you presell one banks will lend. All the development I do, I average a 70% presell and mostly sell before completion. The savings on stamp duty for people and giving clients a bit of choice in colours helps a lot. A few will ask for extras and that in itself is a money spinner. Good luck.
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