G'day…
I have found a 2900m2 block of gently sloping land on the water in Margate (Tassie. 20mins from hobart) at a price of about $400,000. I know nothing about developing land but have 2 IP's in Tassie. What steps should I take if I am keen to buy and develop this land into blocks? How many blocks of land could you get in that much land? Would people recommend townhouses, houses or units? Cheers
tuggerwaughHi, you need to first check the zoning. What does the council allow you to do? There's a block in Blackwood 2600m2 of flat land & it could not be sub-divided because the council regards it as rural. this is 18km from the CBD in a hills area that's suburban & has hundreds of conventional houses & more than 20000 residents.
At $400K for the cost of land, if you can't sub-divide, you'll looking at building a country estate for $800K.
KYHi Tuggerwaugh,
As Kum Yin says, the first step would be to look at the zoning for the property, which will determine the minimum size for blocks to be subdivided into. Next, I would chat to a planning consultant about what you might be able to do on the land given its current zoning. If it is possible to subdivide, or perhaps re-zone the land, then you would look at what sort of prices you could expect for blocks given the possible size that you could sub-divide them into. Then you would look at the costs of doing the project and figure out if it was likely to be sufficiently profitable. Hope that gives you a basic idea. Good luck with it.
Kind Regards,
Cameron Perry
Perry Financial Strategies
[email protected]Thanks Kum and Mortgage Man…
Yeah it seems a lot of piss farting around but worth it in the long run if it all goes well… we found recently when we spoke to a palnner about a good block of land he was quite keen himself and it appeared he might have been the purchaser at the end with a higher price. We are living in the NT and the block is in Tassie so just a bit more extra work on the phone i suppose… thanks again
tuggerwaugh
Make friendly contact with the Council planner – they can be friendly if you use the right approach. (I am a municipal development control planner)
Also a Tasmanian mapping system at http://www.thelist.tas.gov.au/listmap/listmapstart.jsp is invaluable. It has helped us in making a site plan for discussions with public authories.G'day tuggerwaugh,
Im a building designer who has grown up in tassie amongst all hustle and bustle (if you can call it that
and i have also seen the rise in property prices around the state. Currently i have a couple of clients whom i have designed units and houses for investment purposes. If you're looking for someone who could manage a portfolio down here for you (including design the dwellings and helping to choose the right stop) feel free to give us a call:0423107119
Regards,
Nik
and i have also seen the rise in property prices around the state. Currently i have a couple of clients whom i have designed units and houses for investment purposes. If you're looking for someone who could manage a portfolio down here for you (including design the dwellings and helping to choose the right stop) feel free to give us a call:You must be logged in to reply to this topic. If you don't have an account, you can register here.
