Hi All,
I was just wondering what % increase one can hope to add to the value of a property by obtaining a DA. Obviously it is not a science but what would one generally expect to add onto the value? It would also be helpful to hear from someone who buys sites, gets DA approval and then on-sells the project to a builder/developer.
Best regards,
Alastair
It depends upon a number of factors as to whether it will add value or not. Is getting an approval going to be easy or is it going to involve months of negotiation, rezoning, engagement of consultants, commissioning of expert reports, making representations to councillors, greasing palms etc? If it is the latter, then you may be able to increase the price demanded substantially, if not, sell it as is as any benefit will be minimal.
I have done this a number of times.
Some times it a major plus but then there are times people are interested in the land but the DA is not what they want.
It can be tricky at times and you really need to do your research and virtually know what is in the pipeline by others.
Not much point in spending 50k to find some one else is doing the exact same thing then there is a flood of the same on the market.
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