experience in subdivision - brisbane 809 block

Viewing 8 posts - 1 through 8 (of 8 total)

noviceinvestor
Member
@noviceinvestor
Join Date: 2012
Post Count: 4
February 4, 2012 - 7:43 am
Hi has anyone recently completed any sub division projects in brisbane. I am looking at purchasing an 809m block which is on 2 lots and building 2 homes.
1. does anyone know what the real cost of getting sewerage/ electricity is? Also council fees
2. Can anyone recommend a builders that they have used? looking at 2 storey 4br 2 bathroom/garage
3. Does this strategy make money in innner city suburbs of brisbane (camp hill????)
I am very interested if someone has done this recently.
regards,
fredo_4305
Participant
@fredo_4305
Join Date: 2009
Post Count: 336
February 4, 2012 - 8:34 am
Which Council?
noviceinvestor
Member
@noviceinvestor
Join Date: 2012
Post Count: 4
February 4, 2012 - 8:45 am
brisbane city council, it is an innercity block….
Cracker1970
Participant
@cracker1970
Join Date: 2009
Post Count: 4
March 20, 2012 - 8:19 am
I did something similar in Coopers Plains several years ago now(2006). You will also have to factor in water connection and have the blocks re surveyed as the orginal pegs are probably long gone and if you plan on building on both blocks whoever you build through will want the blocks surveyed. If you still want me to dig out my costs on this project then let me know.
Sailesh C
Member
@sailesh-c
Join Date: 2005
Post Count: 62
April 12, 2012 - 8:17 am
If the block is already on two lots then you do not have to pay for new sewer and water. These costs only apply to new developments.
To qualify for the savings you will need to get a solicitor to apply to seperate the amalgamated title. This only costs a few hundred dollars.
You can then contact the council to install the services.
Ballerina
Participant
@ballerina
Join Date: 2011
Post Count: 63
April 14, 2012 - 1:00 pm
Hi NoviceInvestor
You should really put the whole feasibility together, prior to purchasing a block. We have recently completed 4 townhouse development in Camp Hill, so I know the area very well. If you intend to build, you have much more costs to cover then just a subdivision: certification, consultants, surveyor…
Sailesh C
Member
@sailesh-c
Join Date: 2005
Post Count: 62
April 16, 2012 - 1:31 am
Ballerina wrote:
Hi NoviceInvestor
You should really put the whole feasibility together, prior to purchasing a block. We have recently completed 4 townhouse development in Camp Hill, so I know the area very well. If you intend to build, you have much more costs to cover then just a subdivision: certification, consultants, surveyor…
Good advice. You need to assess all your costs and factor in how much profit you wish to make only then you can determine how much you can pay for the site.
Be prepared to do a lot of research and look at as many sites as you can. It took us eight months of searching before our offer got accepted on a 26 unit development site in Windsor. If it was easy everyone would be doing it. In fact the majority of small developers loose money because they do not know what they are doing. In developments there are many ways of loosing money.
I have been involved in close to 70 small developments since 2004 and none have lost money. Could be due to good fortune or good management.
Good luck
Ballerina
Participant
@ballerina
Join Date: 2011
Post Count: 63
April 16, 2012 - 1:51 am
Also, you have to know your outcome. If you intend to sell new houses, GST would be applicable. If you keep them as a rental property, different taxation….