G'day,
we bought a business that has been a bit of a lemon. It is on good real estate however. We have 2000m2 of land in the main street of town. I can't see a lot of future trying to keep the business going so I am looking at development options. The land is zoned commercial but is in a residential area. The adjacent property is residential. I would like to rezone the land to residential and strata title it and build 3-5 units. Does anybody have any experience with rezoning?Is it possible? I spoke to a town planner and he said it can't be done but what if I was to lobby the councilors?
The other option is to build other commercial facilities and sell them/lease them out
OR
sell it. Current market suggests a quick sale unlikely
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