All Topics / Value Adding / Mount Isa development strata title
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I have just bought 4 1/2 acre rural property in Mount Isa with 3 houses on one title ( council approved ), have spoken to council town planner and have been informed property will be rezoned rural/residential in the coming months.Council Town planner has said they would not allow property to be subdivided, but would look at a material change of use of the land, in other words maybe another 3 houses on the property. Council town planner also told me land is almost impossible to find in Mount Isa to build on unless you buy an old house and demolish it, which is usually not cost effective at current prices.
I have also spoken to a private town planner and have been informed I could keep the property on one title, but strata title each of the houses and the rest of the land would be classed as common land for strata owners, like driveway ect.I was thinking if possible to put a battle axe driveway in the centre of property and I could have 3 x 1/2 acre blocks at the back to build on or to sell.The only thing needed would be power for each of the blocks, water is bore and septic for toilets.
Here are some questions if anyone can help.
Has anyone done this type of development before?
Can I sell the vacant land lots as strata title blocks or do I have to build on them first?
Any idea what cost for this may be?
What is a building block worth in Mount Isa as I can’t even find one listed for sale?
Any other ideas would be appreciated.
Don
djr
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