Thinking Outside The Square
This house might not be much to look at, but it is what lies underneath that interests us most. This off-market purchase has more twists and turns than an Olympic diver. It is an odd shaped block but with a rare LMR3 zoning (most development land is LMR2) in a good location. This zoning opens up a world of possibility for the site and as with all properties we source we investigated every available option including as a three storey unit block, 4-5 three storey townhouses, or the chosen option of three small lots (stage 1) with houses (stage 2). Many wouldn't recognise this as an actual option, or realise it would be a better outcome than others, but it is for two big reasons. The first is a simple subdivision process instead of 6 months+ with council, followed by houses approved through a certifier only. The second big reason is the end value of the finished product is a good 50% (approximately) greater per dwelling than townhouses, which is ultimately what sent this option to the top of the list.