Hi there,
Currently we are considering the purchase of a block of land in the centre of a small country town. The block contains a 2 bed Miner’s cottage, (currently rented for $110 p/w an old church hall (about 5 x 11m) and a newer chruch hall (about 8 x 16m).
We have been looking at the possibilities of keeping the existing residence, removing the central old hall and converting the newer hall to 2 two bed appartments.
The challenge is that the $ work out very closely and leave little (if any) room for unseen problems. Consequently we’re looking to walk away from the oportunity, unless we can come up with a smarter idea of a use for the site and buildings.
The position is very good, with the block occupying the complete width of the allotment between two parralell roads, and central. Unfortunately although I can see the long term gain from the position, I can’t realise the immediate $ flowing from the current location.
Does anyone have any thoughts or suggestions for possible uses for the old Church Hall eg business (gym, billiard hall etc), I’d appreciate your input as I can’t help feeling that there’s something I’m missing ( hopefully it’s not the “few frech fries short of a happy meal scenario!!)
Thanks in advance……….
RosePink
Check out a childcare centre!
Simon Macks
Finance Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Depending on the population of the town and the facilities available, I would be leaning towards an IGA store which included various services such as a Bakery, Chemist, Butcher etc. I would probably also allocate a small area for internet services. It sounds like you have the space. Does the town need a good supermarket and/or other services?
Robert Bou-Hamdan
Mortgage AdviserI like the idea of Childcare centre…thanks.
The idea of the Supermarket and services is good too, however there is a reasonably new Woolies only 300m away…with butchers and speciality shops etc,
Looks like I’ll need to spend some time in the town to check out the needed facilities..maybe the Council can help.
RosePink
It must be a pretty big town to have a Woolies. Good luck with the research.
Robert Bou-Hamdan
Mortgage AdviserStart your own religion! Think of the tax exemptions.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Rosepink,
A cottage and two halls…obviously your options shall be limited to what the zoning of the block/s are.
Do you know what it is ??
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
RosePink… I’m thinking country here- I’m thinking… CWA tea rooms, PCYC youth club, dance school hall… b&b?
Woolies in a “small country town”? Do you mean woolies as in sheep? or the major national supermarket?
kay henry
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