All Topics / Help Needed! / advice needed please

Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of ScottybeScottybe
    Member
    @scottybe
    Join Date: 2004
    Post Count: 58

    Hi all.
    Recently been looking at a property in QLD as a rental. Its a QLDer that has been split into 2 units, figures are great, all looks good except that i thought the zoning was res but turns out it is actually commercial.
    Can anyone think of how this zoning could be a problem for us in any way?

    Thanks

    Scott

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493

    I would think a Commercial zoning would provide you with a lot more opportunities regarding tenants and/or future development.

    The Mortgage Adviser


    http://www.themortgageadviser.com.au
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    Profile photo of LuciLuci
    Member
    @luci
    Join Date: 2005
    Post Count: 114

    A potential problem is if the area is currently a residential outlook and you want the property as residential, but later down the track a commercial development goes up next door that impacts upon the streetscape. Nobody will want to live next to a McDonalds or busy shopping centre.

    Profile photo of annemlanneml
    Participant
    @anneml
    Join Date: 2003
    Post Count: 54

    But then maybe MacDnalds or the shopping centre or someone else may have a great commercial idea for your property and be willing to apy for it?

    Anne

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493

    There is also the possibility of mixed use development – ie: some shops downstairs and residences upstairs. I like Commercial or Mixed Use zonings smack bang in the middle of a residential area. Every area needs a shop!

    I bought one in part of Geraldton WA and I was looking forward to the area developing further. I would then be the guy that puts up the Commercial development next door to the neighbours if I intended keeping it long term. Who knows, maybe they will hate it and sell me their property cheaper to create a larger development!!! :)

    The Mortgage Adviser


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    Profile photo of ScottybeScottybe
    Member
    @scottybe
    Join Date: 2004
    Post Count: 58

    Thanks all, i feel better about this one now.
    What sort of lvr would most lenders loan on this sort of thing?

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493

    residential can go up to 106%. If it is classified commercial, it might be as little as 65%. Mixed use is the best.

    The Mortgage Adviser


    http://www.themortgageadviser.com.au
    [email protected]
    Essential Links


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