I am considering purchasing property in Melbourne that has scope for a possible subdivision in the future.
Two properties I have looked at, have land sizes of 580m2 and 600m2 respectively.
Are these properties too small to subdivide? If not ,then what is the minimum size which the subdivided land parcels can be?
Check with the local council. The infrastructure requirements usually dictate the smallest size block allowed. Maybe units or duplexes are possible
markk
Happy Hunting
http://www.kentscollections.comOriginally posted by arnold:I am considering purchasing property in Melbourne that has scope for a possible subdivision in the future.
Two properties I have looked at, have land sizes of 580m2 and 600m2 respectively.
Are these properties too small to subdivide? If not ,then what is the minimum size which the subdivided land parcels can be?
The above suggestions are correct, but rule of thumb would suggest that neither lot is big enough.
You can’t just subdivide the lots. You have to have plans approved for what is to go on the lot.
Have a look at our website www.metropoleprojects.com.au in the investor learing centre and click on site assessment checklist.
It will give you an idea of what to look for in a site with development potential.
Or you could use our services to do a pre purchase feasibility assessment
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.au600m2 is probably enough for 2 x 2 bedroom units if the existing house is to be demolished. Check the setback of neighbouring dwellings these will determine your setback. In my local council which is 45 K from melb I have recently seen 2 units approved on 450 sqm block. If there are other 2 storeys in the street then you could always go 2 storey with the front one. Dont waste your money on some checklist unless you are looking to develop straight away as rules change from time to time. A local draftie could probably steer you in the right direction with regards to whether the site is suitable.
Originally posted by theBuildingSurveyor:600m2 is probably enough for 2 x 2 bedroom units if the existing house is to be demolished. Dont waste your money on some checklist
You are correct that you could probably fir 2 very small units on a block this size, but would it be a viable development.
By the way the checklist is FREE – it shows the guidleines we use when buying development sites. We find them useful. Maybe you would also.
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auOriginally posted by MichaelYardney:Quote:…By the way the checklist is FREE – it shows the guidleines we use when buying development sites. We find them useful. Maybe you would also. Michael YardneyHi Folks
I loved your FREE checklist, Michael. Extremely helpful!
What newbies sometimes fail to appreciate with this site (as with http://www.somersoft.com.au ) is that our ongoing learnings have a LOT to do with the networking. Of course a local draftie could help you with a specific task (ie., s/he will REACT to your request), but will s/he PROACTIVELY teach you the Rental Reality formula, or the algorithms /minimum lot sizes /percentage % of land content etc which helps us to distinguish a good development site from a poor one?
Will such a draftie mentor you so you can independently calculate the precise timing of your proposed investment into the property cycle?
In case you were wondering, I’ve never met Michael Yardney, and this is definitely NOT a paid advertisement! [biggrin][biggrin] I just like to give credit where credit’s due.
In the same breath, can I suggest you log onto http://www.navra.com.au , click on ARTICLES, and read them all extensively. Steve navra’s stuff is so good (as with Micheal’s stuff) I’ve copy/pasted every single article to my word processing file so I won’t lose them.
I did the same with Michael’s free checklist. [cigar][buz2][cigar]
Cheers
GregAs a senior building surveyor in local government that works alongside and often involved with the town planning department, I see most developments that are approved in our municipality. I do think your checklist is useful and didnt realise it was free. How much do you charge for a feasability study. It does not take that much homework to work out whether a profit will be made on a 2 x 2 unit development. You could sell the land with a tp permit and make a profit. I deal with people with no experience whatsoever that not only turn over a profit but are building enourmous wealth. There is plenty of information for free out there and most government departments are only willing to help. In my own recent developments I have pushed the boundaries on what is acceptable and managed to get approved what some town planners call an overdelopment, but what REA call large 3 br home on a low maintanance block. If people wish to use your services that is fine, however I beleive they can start of small like the above situatuion and graduate to yourself, without the need for expensive seminars and project management fees. That I beleive is the best way to learn, even if a few mistakes are made on the way. Michael I believe you are an excellent salesman.
hi debtdogg,
to answer your question.i have done it several times in outer Melb (30 kms approx) and my smallest block approved is 290m/2. (With a 3br single storey house and small yard).
iam far from an expert in this area. but iam learning alot from my excellent draftsmen with each subdiv. in fact as ‘thebuilding surveyor’ pointed out. i probably fall into the catergory of the “people with no experience whatsoever…”
cheers
hutchOriginally posted by theBuildingSurveyor:If people wish to use your services that is fine, however I beleive they can start of small like the above situatuion and graduate to yourself, without the need for expensive seminars and project management fees. That I beleive is the best way to learn, even if a few mistakes are made on the way. Michael I believe you are an excellent salesman.
Thanks for the compliment[blink], its funny I don’t consider myself a salesman.
I agree that not everyone needs our project management services. Especially if they are in the industry like you.
Having said that, most beginning developers will learn lots and make most of their mistakes in their first 2 or 3 projects. From what I am told, most will loose money on their first and only project, especially at this stage in the cycle.
Some people are just too busy or don’t have the knowledge or inclination to do it themselves or some just want to minimise their risk. That’s when our project management services may come in useful.
The fact that we are currently managing 83 individual development projects around Melbourne and have been doing this for years suggests that there is a place for our services.
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.au
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