Sounds all too good to be true Jim. 8800 + 7600 = 16400 m2, allowing 35% for roadways, footpaths, services etc it will leave you approx 10,660 m2 of useable land for the combined blocks (or 21 x 500 m2 avg blocks).
There are quite a few good town planners, surveyors & consultants in the market to get the maximum number of lots or maximum value out of the combined lots
Sitting on your current DA & going for a new one with the combined blocks may be an option – selling it off to a developer and not enduring the development and sales process.
Why have you only achieved 3 lots on your 7600 m2 if next door can achieve 20?
A tenant will very rarely be liable for the lessor’s management fee – why should they pay for your decision to have a property externally managed?
You will still be up for your building insurance & public liability (tenant pays plate glass and contents).
Tenant also is liable for consumption of water (not the sewer connection/standing charge), rates & taxes (above a base figure).
Alternatively you could get a gross lease where the rent is higher but is all inclusive of outgoings.
Dazzling,
A couple of other areas that you haven’t listed include Property Syndicates and Unlisted Property Trusts as well as partnerships or joint ventures.
UCV bears (almost) absolutely no relation to the selling price of land. It is a system used by State and Local Governments for the rating value of property ie what they basis of council rates.
UCV is a statistical determination method of establishing land values having taken into account all sales in an area then adjusting (theoretically) for the development component, scarcity factors etc.
Refer to the recent court case of Maurici v NSW Govt (Land Tax Commissioner) whereby the plaintiff won the case due to the fact that the valuation did not take into account the lack of vacant/unimproved blocks in a typical inner city suburb of Sydney.
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