Hi all,
I bought a 7602m2 block 2 yrs ago for $50k. Its 112km from Perth GPO. I have now got WAPC Approval to subdivide into 3 green title lots. However…the 8800m2 block next door has just come on the market for $300k!
So I rang the Agent, and she told me the Vendor has had preliminary discussions with Council, at which the Council suggested their block could be subdivided into 10 lots! Its zoned the same as my block, R20 (Av lot size = 500m2)
Now Im thinking…I might put an offer on next door, subject to approval for a 20 lot subdivision!
I could use the equity in my block(100%) to buy…then get plans approved(bro works at Civil Engineers)…then revalue and use additional equity to finance construction of subdivision.
It looks good on paper….20 blocks of approx 700m2 @ $100,000ea!!!
Problem is….my limited funds and experience!
Are there any Companies/Developers out there that anyone knows of that may be interested in completing the subdivision for a percentage of the profit, or for a block of land or 2???
Alternativley…has anyone been there/done that…and can offer any hints or advice?Its too good an opportunity to miss…so Im looking forward too seeing your ideas.
Any help most appreciated!!!!!
Jamie
Sounds all too good to be true Jim. 8800 + 7600 = 16400 m2, allowing 35% for roadways, footpaths, services etc it will leave you approx 10,660 m2 of useable land for the combined blocks (or 21 x 500 m2 avg blocks).
There are quite a few good town planners, surveyors & consultants in the market to get the maximum number of lots or maximum value out of the combined lots
Sitting on your current DA & going for a new one with the combined blocks may be an option – selling it off to a developer and not enduring the development and sales process.
Why have you only achieved 3 lots on your 7600 m2 if next door can achieve 20?
Hi Scott,
I was initially told by surveror that, without deep sewer, I could only subdivide into 2000m2 lots, or bigger!
This is what I have always understood to be the case too…but a subsequent search of the relevant Town Planning Scheme indicates that YES it is possible to subdivide into smaller than 2000m2 lots without deep sewer!
I then rang the Council…who also confirmed they would not have a problem with it.
Feeling a little peeved by this point…I rang the powers that be at the WAPC…and…low and behold….was dutifully informed that YES…it IS possible to subdivide into smaller than 2000m2!!!!
Not sure what to do about the dodgy surveyor who, in front of witnesses and in writing, told me not to bother with anything more than a 3 lot subdivision…or the "Town Planner" I initally spoke to at the Council who told me the same thing….GRRR!!!
Put it down to a $2500 learning curve…pretty steep!!!
So in answer to your question…because I paid for information that wasnt correct!
But…the problem is easily rectified
Thanks for your interest.
Jim, has the LEP allowing subdivision changed (now allowing greater subdivision than previously)? ie the advice at the time may have been correct but changed due to new planning legislation. The council isn't obliged to tell you what is on the cards only what they can currently approve (the rest is pie in the sky).
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