Hi everyone,
I have a 2,000 sqm block of land in a semi-industrial area in Devonport TAS. There’s a small house at the front of the block which I rent. The back “paddock” is fenced off from the block the house is on. I would like to increase my returns by doing something with the back block, or maybe even the whole thing…does anyone have any ideas? After reading Steve McKnight’s bulletin I thought maybe self storage, but I just don’t know if there is enough of a market for it in Devonport (there are 6 businesses advertising this service in Devonport in the Yellow Pages). Any thoughts or ideas would be appreciated.Not to many reponces yet! I am a bit of an ideas man so we will see if I can help . You could sub divide into 2 or more blocks, and sell off the block/s without the house on it. By doing this you may pay off completely the morgage for the block which would increase your profit margin.
alternitively you could could advertise your land for lease stating: for lease owner will develop for customers buisness(something like that). This way you could land a big comercial rental, or 2,3 of them
you could build a long building or shed which could be sectioned into 10 stations, they could each be rented out to mechanics, carpenters, cabnit makers, plumbers etc.. it could cost you about $200000 to build something like that but if you had 7 regularly rented at $150 per week the return would be very good.
Not to many reponces yet! I am a bit of an ideas man so we will see if I can help . You could sub divide into 2 or more blocks, and sell off the block/s without the house on it. By doing this you may pay off completely the morgage for the block which would increase your profit margin. and you could use all that equity to buy more property.
alternitively you could could advertise your land for lease stating: for lease owner will develop for customers buisness(something like that). This way you could land a big comercial rental, or 2,3 of them
you could build a long building or shed which could be sectioned into 10 stations, they could each be rented out to mechanics, carpenters, cabnit makers, plumbers etc.. it could cost you about $200000 to build something like that but if you had 7 regularly rented at $150 per week the return would be very good.
what do you recon.
seano
THANKS FOR REPLYING!!!! I really appreciate you spending some time to think about my development question. I really like your commercial ideas…how would that idea work about advertising that I’ll develop for the owner’s need, as they would have to wait a while for the building to be completed, wouldn’t they? I was feeling a bit at a loss as to how to actually get the ball rolling, but your answer has inspired me to take at least the first step of getting the block subdivided and sectioned off (I’d probably put a big fence around the current house to give the tenant some privacy, and have to tear down a derelict garage to give access to the “paddock” at the back). These first steps will take a bit of time and will definitely be a step in the right direction – THANK YOU, THANK YOU!!
I was also thinking of small factories.
Here is an idea of the sort of thing I had in mind.
http://www.shearwateronline.com.au
I am not selling these but if anyone is interested call me instead of the developer as I might be able to help with a better price – IMHO they are too expensive for the yield – however they are new and in a good area…
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked! 6.85% Rate!!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
it was my pleasure. glad you got some good ideas to work with. In rockingham near Perth I saw years ago signs on vacant land saying things like: for lease owner will develop. So in one instance that I kno of, the owners of a toy shop got together with a local gym and approched the owner of this land. the land owner developed a 2 story building, the first floor for the toy shop and the 2nd story for the gym. It may have tacken 6 months to build the place, and the land may have been empty for years, but until you have a deal you have no expences.
Seano
Check out the yellow pages under “property development”, have a talk to two or three people as to what they would do if they owned it. THey will have heaps of ideas and connections, and will fully understand (or find out) Re zoning, setbacks, market niches, etc.
any progress???
Seano
You must be logged in to reply to this topic. If you don't have an account, you can register here.
