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  • Profile photo of fulloutfullout
    Member
    @fullout
    Join Date: 2003
    Post Count: 233

    Hi guys,
    Have any of you bought a big big land, like maybe 900 acres farmland, and then later subdivide it into a housing area? My father was asking me to look out for big farmlands, which he wants to do housing later.

    Can u guys give an example of what the costs are, etc?
    How much would a big land like that cost?
    Better to buy nearer city or outer?

    hmmmm

    Profile photo of NessieNessie
    Member
    @nessie
    Join Date: 2001
    Post Count: 73

    Hi Fallout

    Saw an advert. in the newspaper a few weeks ago for 45 acres of land on the outskirts of Melb – Eastern Suburbs – Price: $900,000
    Equates to $20K per acre.

    Dad will need lots of $ if he wants to buy 900 acres.

    Cheers
    Nessie

    Profile photo of fulloutfullout
    Member
    @fullout
    Join Date: 2003
    Post Count: 233

    Nessie,
    where is that land? is it in Pakenham?
    how big is 45 acres?

    Profile photo of wayne_2wayne_2
    Member
    @wayne_2
    Join Date: 2002
    Post Count: 13

    Hi fallout, you asked how much 45 acres is?
    45 acres is approx 180,000.00 square metres or equivilant to approx’ 300/600 sq/m blocks or 212/850sq/m or ratios of 180,000 divided by the size of the block you want to create.However you won’ get that many blocks out of it as you have to allow for roads recreation areas etc. Up our way it costs around $35,000 per site to develop if you allow for services,road constuction and drainage etc.
    Hope this helps
    God bless
    Wayne

    Profile photo of NessieNessie
    Member
    @nessie
    Join Date: 2001
    Post Count: 73

    Fullout,

    Property was in Carrum Downs/Skye area.
    Was not in advertised in this weeks local news so must have been sold.

    Cheers
    Nessie

    Profile photo of fulloutfullout
    Member
    @fullout
    Join Date: 2003
    Post Count: 233

    how easy/difficult it is to subdivide a big land then sell off the blocks like a developer? WHat are the processes? Anyone done that before?

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