980sqm Land Corner block (flat)

Get yourself onto both a town planner and the local council.

Also have you done the numbers to see whether you will make money? Are you across all the costs associated with a development?

Regards

Shahin

Ok so you have done the cashflow numbers but what do the total construction costs vs resale/value look like?

Regards

Shahin

Not trying to disagree but I don't think you should look at it that way. If something comes up and you need to sell the dwellings then you need to ensure that the numbers add up?

Re construction costs you also need to factor in council fees, contribution fees, site costs, demolition, fencing, concreting, driveway, etc. Not just the dwelling itself. 

Regards

Shahin

Hi Bosco,

As you are not 100% on which direction to take with your project, you would definitely be best consulting with a private town planner and having a full Property Development Assessment undertaken. I would recommend contacting Breece at Pillar + Post http://pillarandpost.com.au/ as I can vouch for their excellent service and thorough assessments.

Also, as you're in Wantirna South (just around the corner from me), it would be worth your time downloading our spreadsheets from the following forum topic and having a read through. https://www.propertyinvesting.com/forums/adding/4347086

Cheers,

Ashley

Hi Shahin,

I am a land surveyor, not a town planner. As the director of my small business, I do make it a priority to spend as much spare time as possible refining my knowledge of planning schemes, processes and any amendments to these. 

Land Surveyors are often the first point of call in developments, so it is critical in today's marketplace to have a very good understanding of planning schemes and the whole subdivision process- not just the parts that I'm directly involved with. I do however correspond with some fantastic town planners, architects and building designers who are more than happy to share knowledge to increase everyone's understanding.

Regards,

Ashley

We strongly recommend our clients use the services of Stacey Surveying, as we have found Ash to be competitive on price and simply the best surveyor when it comes to attention to detail.

I cannot speak highly enough of his professionalism and drive to deliver the best service possible. It has been wonderful to watch Ash's business grow. 

Here is an example of his recent work for our five townhouse project in Abbotsford. This is called a Feature & Level Survey and Site Analysis: http://pillarandpost.com.au/subdivision/stacey-surveying-feature-and-level-survey/

Ash's prices beat not just his competitors, but the recommended price set by The Institute of Surveyors.

As a developer, I recommend you build a strong team of knowledgeable consultants for small-lot development sites. There are too many horror stories of developers cutting corners or choosing to use the cheapest shyster in the market.

Thanks for the support Ash. I'm proud of our developing relationship as we continue to work closely to deliver quality services to our valued clients.

All the best,

Breece

Hi AlBosco and Dwolf,

Dwolf raises an excellent point with the Public Open Space Contribution levy for Knox City Council.

We have recently completed a number of Property Development Assessments for clients in Knox. One was for a couple who have a 1,300m2 property in Boronia and another two PDAs were for a client who was looking to acquire a development site in Bayswater.

To be blunt:  Knox is horrific for multi-unit development on a number of fronts.

Firstly, Dwolf's point applies to most subdivisions in Knox, however the majority of 2-lot subdivisions are exempt from this Public Open Contribution only if Knox council considers it unlikely that each lot will be further subdivided.

Due Diligence here is critical.

Every Property Development Assessment we have completed in Knox over the past 6 months has highlighted significant restrictions on multi-unit development. In each case, the PDA saved the client from proceeding with a development that would never gain Council support. This saved each client thousands.

Sometimes, the better part of valour is discretion.

I would also point out the excessive application of the R3Z in Knox.

A word of warning to potential developers… The Residential 3 Zone is a silent killer. It provides Council with the legislative justification to refuse multi-unit development in Knox, primarily on Neighbourhood Character and Density grounds.

The Victorian State Government explicitly encourages infill development as a sustainable design solution to increasing population growth, yet Knox City Council have their own ideas.

NIMBYism is soooo 2002.

Good luck with your Development,

Breece