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More To It


There’s more to this property than we first thought. On offer is a vacant parcel of land in a fabulous location, but with some minor flooding. As a result of this we believe subdivision is not possible, so we assumed there’d be no viable options moving forward considering the land size. However, we’ve come up with a design for three townhouses that works surprisingly well and would be highly sought after in this location. It has been a while since we’ve managed to make a three townhouse site stack! Numbers are indicating approximately 29% equity gain. This one is going to auction and we’re working on a buy price of $1.2m.

Decisions


There are a few decisions to be made with this site. On offer is a comfortable 2 bedroom home, which if you were looking to hold for the medium term you would try and convert to a three bedroom home. It sits upon over 600m2 of land in a nice, quiet and convenient street, with the likely ability to subdivide into two lots. It is a corner lot with an odd shape and advantages and disadvantages in how you create the two lots. You are buying at about land value so we know this is a good buy, and the site would suit 2 x rooming houses, but the numbers, whilst acceptable, are only average. So… do you hold or develop? Do you leave as a two bedder or create the third bedroom? What lot shapes do you think is most advantageous? Do you create rooming now or later? Do you bank on increasing rents? Lots of decisions to make, but at just over $1m, this represents a good pickup for a variety of buyers.

Now For Something Completely Different


This is something you don’t see everyday (if ever). The product, the density and the planning framework is all unusual. On offer is 350m2 (approx) of land approved for 6 x townhouses. Yes, you read correctly. They are each a 4 storey walk up townhouse (yes, again you read correctly) but the proposed finishes and ultimately the position means we’re selling to a very specific buyer who will pay big dollars. We’re talking a total development cost exceeding $12m and an equity gain approaching 40%. Buyers at $3m should call Justin on 0410511535.

Halve


We all know how difficult it is to source quality splitter blocks, let alone off market ones! On offer is a post-war home to demolish that sits on 2 lots and a total land area of 810m2, ready to be halved through a ‘paper separation’ of titles (i.e. no town planning required to create the two lots!). The property is in an awesome location opposite hectares of parkland and an area achieving high vacant land and new house sales. Numbers are indicating circa $315k equity gain from selling land, or over $1m or 19% equity gain from building houses. Buyers up to $2.2m should call Justin on 0410511535 (we’ll attempt to buy this for $2.15m or less initially).

 

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