I have bought my first investment property last year on a large corner block and now wish to subdivide. Given how long and costly the process for subdivision is, I was wondering whether a Strata Title could be more economical in terms of time and money spent if you can get the same result as a subdivision. i.e. sell the backyard off completely and make some money. However, I know very little about Strata Titles and would like to know what the pros and cons would be for both these methods.
Would appreciate any info…
Cheers
elly [specool]Hi Elly,
We have had the same thoughts ourselves lately until We talked to the local council who informed us that you can’t sell a strata title block on it’s own without a dwelling on it ,as opposed to a straight forward subdivision.
It was news to us. If anyone can shed some more light on it I’d appreciate it.
Regards,
PeteAlways go separate title wherever you can.
Rules are different from state to state and council to council.
I’ll use my area for an example (NSW). First you need to know the minimum allotment size allowable in subdivision ie 450sqm. Corner blocks may need 500sqm because of two street setback requirements. You friend Council Planning officer can advise on this, I recommend calling the council and find out the planning officer’s email. You may want to contact them directly but they are always busy and will take the easy way of answering (ie stock standard answer of minimum size and not advise on any other oppoortunities such as departures from the ules.) at least an email or letter will be answered in writing, no chinese whispers there.
In NSW there is a strata subdivison allotment called a development site – most planning officers do not have experience in these so will advise they aren’t available – well versed surveying companies are more knowledgable in these.
Then there is Dual Occupancy then subdivide after the new dwelling is completed. Then there is the integrated housing option if it is available from the Council. This allows the building and subsequent subdivision, not unlike dual occupancy and subdivision.To go any further in the possibilities would be futile unless the State and location are identified.
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