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Dive Into the Unknown


There’s a lot to like about this property, with some answers already available to us thanks to a previous  approval. The main issue with the site though is the approval doesn’t stack up, so as always we’re looking to improve on it, in this case by creating 5 townhouses instead of 4 units! Whilst the existing approval answers some questions, others remain so we’re diving into the unknown a little bit. As a result we will need a decent conditional period here to work through it, something to be carefully considered with Christmas just around the corner, but if everything pans out the way we hope we’re looking at over 31% equity gain. As a little sweetener, the existing house is quite attractive and should probably rent for around $750pw whilst you wait for your approvals. Buyers around $1.4m should call Justin on 0410511535. 

Copy Cat


This corner site has approval for 10 units, that whilst you’re unlikely to get again under current rules, still hold little appeal as they’ve got the unit mix wrong. Our hope is buyers focus on the approval and not on the alternatives, allowing us to buy this one at the right price. Our research indicates the site works best for freehold, terrace style townhouses, each one almost a copycat of the one beside it. Our numbers for this option sit at just over 30% equity gain, but it also isn’t the only option available to us, with a three lot subdivision to develop either small lot houses or rooming accommodation also on the table. Buyers at $1.85m to $1.9m and able to bid at auction should call Justin on 0410511535. 

Square


This almost perfectly square site consists of approximately 1300m2 of LMR2/3 land suitable for townhouses or subdivision. The big advantage to the property is the block shape – the wide frontage should allow for a 5 lot subdivision into 260m2 lots, most suited to rooming accommodation. The alternative would be townhouses, most likely 8. Buyers around $1.85m to $1.9m should call Justin on 0410511535. 

Appetite


Depending on your appetite for pushing the boundaries, this is either a really awesome development site, or worst-case scenario, a fabulous land bank opportunity with future upside. On offer is a circa 875m2 block of LR land with a huge frontage and a pleasant 3 bedroom home sitting on it that can easily be converted to a 4 bedroom home. It is LR zoned and located in a quality street, though not far from an abundance of retail. This proximity allows for 300m2 lots. At minimum we can subdivide into two lots, though our numbers are falling short for this. Regardless, based on recent nearby sales this is a good pickup even if you couldn’t develop it any further, making it ideal for land banking. There is a chance, though a long way from a guarantee, of achieving three lots that are circa 290m2 each with sensational equity gain the result. As there’s no certainty around this option, we do not recommend buying this property if that is your only goal. However, for those happy to land bank should it not come off, or those simply looking to buy well and have future upside, then this is a great pickup. Buyers at or just over $1m should call Justin on 0410511535. 

 

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