Inspected a house today on a corner block, on almost 2500m2 of land. There is room at the back to fit at leat 3 more properties. The asking price is that of one property. The reason for the low price is that the back part of the property is low lying and in a flood affected area. The council will not allow sub division of land that is flood affected.
Is such a waste. Surely there is a solution. As Steve says (are you there Steve? Do you read these forums?), Problem + Solution = Profit.
Anyone have a solution or idea?
Having said that, have thought of a potential solution whilst typing this post. Will action it tomorrow and let you know how it goes.
Hi wazl,
It is now today and I wonder how your potential solution panned out???
However although the council will not allow subdivision at the current height– Can you “fill” or can you leave it as one block and develop Town-houses or units with car parking space under. I believe building is allowed on flood prone land but no “livable areas” can be under the designated flood height. You may consider this avenue.
Cheers and Good Luck,
LenThere is a tree growing business at the back that operates in a flood affected area. My idea was to sell the flood affected land to him. Didn’t go further as I realised can not dubdivide to sell to him anyway.
Thanks for the advise, Len. I do not have the money to develop units at this stage.
Here is a link to the property if anyone is interested. The house is in good condition
Hi Wazl,
It may be worth consulting with a hydraulic engineer to discuss whether the flooding issue can be overcome. In Melb, a good resource to consult (and there is likely to be a NSW equivalent)is the Melbourne Water Guidelines for Development in Flood Prone Areas. See http://www.melbournewater.com.au (under Online Services, Land Development).Good luck!
LeilaLove this thread, Have a house on a long narrow 1240 sqm block with 55% at the back below flood level. Raising the living above with carparking below, what an inspiration.
Im off to council, yahoooooooo
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!
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