hi all this is my first post so bear with me please , we own a property in outer east melb with income of $38,000 (rent from tenants $17160) then 2 leases from phone companys commercial leases worth $21160.00 with 3%increases etc . we have been told could look at subdividing with 40%chance of sucess ,we arnt sure whether to chance the cost or maybe sell. also we will be moving os in 6 weeks time, some good advice from the experts appreciated
phil131Hi.
I’m no expert and from your post I’m not exactly suer what kind of development or subdivision you’re proposing but maybe this will spark some discussion…
If you already own the property why not just get a surveyer in, get some plans drawn up and costed and take them to the council? I’m sure it wouldn’t cost more than a couple thousand at most and would give you a better idea of where you stand?
Perhaps I’m being naive but, as I said, hopefully someone with a little more experience will chip in. Perhaps, Phil, you could elaborate on your post with a bit more info?
Art
‘Great spirits have always encountered violent opposition from mediocre minds.’ – Albert Einstein
hi phil,
i agree with Artuad. More information may be required. But on the surface of it. I would hold on to it. It is not a hard or expensive process to get a land serveyor to measure and submit to council, regardless of if you are in Oz or O/S.Hi,
I am a Valuer and I’m not clear on whether you have a commercial/residential property that you are trying to strata title? (subdivide).
Your post states What is a property worth?
If you are going overseas shortly, you are better off selling the building rather than mess with subdivision of title.
I recommend you get a valuation of the building. There are many good valuation companies in Melbourne.
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