All Topics / Value Adding / Selling off one flat – can this be done?
Hey guys,
Firstly I apologies for my lack of knowledge, and likelyhood I am using the wrong terminology for what i would like to do.(im not even sure if this question belongs in this category)
I have an old house in a regional area in Qld that has been divided into 2 flats. (this was done many years ago). A 3 bedder and a 2 bedder. It is basically divided down the middle, with no shared rooms, and the entry door are on the extreme left, and extreme right of the front. The rear yard isn’t seperated into 2, but that can be done easily.
Okay, my question, can I sell these flats off individually or does it need to be sold as one unit.
Thanks guys,
Right now the building is on one title. It would need to be put on two titles. Not impossible, but the cost and logistics of doing it might outweigh the benefit. For a start the wall dividing the two would have to be fire rated. First thing to do would be to talk to the local council.
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It will also depend on the zoning of the land.
I am assuming that the property is approved for multi flat dwelling? Many of the properties in Brissie aren’t and are on Res A land.
As Scott mentions the costs may well outweigh the benefit. You be better off to convert it back to a Queenslander and renovate it.
Cheers Richard
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