All Topics / General Property / Investment Property Next to Tip… What would you do?

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  • Profile photo of ConnollyConnolly
    Participant
    @connolly
    Join Date: 2012
    Post Count: 49

    Hi guys,

    Wanted some thoughts on this one.

    have a property under contract well below market value that is a divorcee sale- however agent has just told me that the parkland next door an part of the street was a rubbish tip in the 1940's. it's been completely redeveloped for a long time now with residential housing and a parkland next door.

    There are a few restrictions- all earthworks completed below half a metre on the site must be reported to local council.

    All soil from the site needs to be taken to landfill.

    This will be a buy a hold for the next 10 years with potential to develop the site at a later point after which.

    calling council tomorrow to see if anything else I need to be aware of- I dont see any issue that it is on the site of an old tip- any thoughts? 

    Profile photo of Brett RBrett R
    Participant
    @brett-r
    Join Date: 2013
    Post Count: 5

    I certainly wouldn't let the fact there was once a tip next door stop me from purchasing if the deal looked good. Go for it I say!

    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404

    If you are going to develop it, there's a good chance that you'll need to dig deeper than half a metre. I'd check that out further.

    Profile photo of wilko1wilko1
    Participant
    @wilko1
    Join Date: 2010
    Post Count: 510

    See if you can look up the general soil classification for the area. Ie clay, sandy etc and that could give a indication of your footings depths for your building. But generally 600mm would cover most residential buildings. So you'd only be tipping 100mm of your footings. Prob wouldn't be much more then one skip worth of extra dumpage. 

    Dont go installing a swimming pool though ;)

    Profile photo of FreckleFreckle
    Blocked
    @freckle
    Join Date: 2012
    Post Count: 1,680

    Dumps release fumes for decades. Good luck.

Viewing 5 posts - 1 through 5 (of 5 total)

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