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Hey Grant,how you doing.
With regard to the subdivision, i would recommend you got to these websites and do some preliminary research.1. http://www.stirling.wa.gov.au/planning/informationSheets
(Click on the Residential Subdivision PDF)2. http://www.wapc.wa.gov.au/Publications/214.aspx
Basically, unless you have already built, individually strata titles blocks of 5 or less, approval is required by the WA Planing Commission.
“In answer to your question about green title here is some information that is hopefully helpful to you.
Both green title and survey strata subdivision allow for the creation of vacant blocks whereas strata subdivision may only be used to subdivide land that has existing buildings or structures. Also, a strata title covers land that is shared by owners of adjoining strata titles (such as a common driveway).
In terms of vacant land, the primary difference between a green title subdivision and a survey strata subdivision is the nature of the titles created – green title allows the creation of individual land titles for each lot, while survey strata creates individual land parcels on one title (eg. units or villas).
It is important to note that the WAPC will assess these applications the same and therefore must comply with Local Government requirements and any other relevant planning policies (eg. Residential Design Codes).”I am in the process of doing a construction at the moment for a client of mine, who has two separate green titled blocks, 3 builds on each block.
Kind regards [specool]
Wayne Costello
MORTGAGE MIRACLES
LIVINGSTON MARKETPLACE
SHOP E/28 100 RANFORD ROAD
CANNING VALE WA 6155Hi Jindou,
In answer to you question, you can subdivide before construction or after.
You are correct, with a subdivision, you would have the individual value of each strata block and then the value of the construction.
So the total in value would be 600k.As the purchase of the land was 150K you would have interest only repayments on this amount payable one month after settlement of the vacant land purchase.
With the added value of the subdivided block, you would be able to finance 300K for construction of 2 houses.
I have a construction deal I am taking care of right now for a client. 2 separate green title blocks, construction of 3 townhouses on each.
Kind regards
Wayne Costello
MORTGAGE MIRACLESMortgage Miracles
Livingston Marketplace
Shop E / 28 100 Ranford Road
CANNING VALE WA 6155