I just wanted to share a property I have just purchased in North West Sydney in a suburb called Riverstone.
It is a 390 sqm block of land which is zoned non urban meaning you cannot build on it today however they are releasing land out this way and building Sydney FC football stadium across the road from this land and also a new industrial park – see link: http://www.marsdenbusinesspark.com.au/images/MarsdenBusinessPark-info.pdf
I was standing in bunnings and realised lamiate floor boards they were selling was $30 per square meter and this works out to be less.
This is in a growth hub, and where there is a rental shortage apparently!
People will think im kidding, but thats ok I have put together a video of some of the property.
http://www.youtube.com/watch?v=rCVOK44bsIkEnjoy
45 minutes away from the airport in the middle of the night maybe .. not when there are other cars on the road tho
I was going by stats off a website, I live in district and never tried to go Airport. However the 45 minutes is the m7/m5 route.
Nath.
Hi Nath,
From what i read from the Business park info book, Rezoning was due 2009, do you know what held that up? and when it is rezoned are you expecting this to be rezoned residentail or commercial?
Sorry for all the questions, but one more…. How much did you pay if you don't mind me asking?
Regards,
Dave
Hi Dave,
Thanks for your feedback.
This project has been approved, however there are many different sections of this area.
Looks like a great block for a self storage type business.
Amazing buy Nathan
dnshull wrote:Hi Nath,
From what i read from the Business park info book, Rezoning was due 2009, do you know what held that up? and when it is rezoned are you expecting this to be rezoned residentail or commercial?
Sorry for all the questions, but one more…. How much did you pay if you don't mind me asking?
Regards,
Dave
Dave it was $11,000 it is in the youtube video
Yep $11,000 block of land.
Sydneys cheapest piece of land.
considering that the land is zoned non-urban, the parcel will probably smaller than a developable size in any future zoning, possibly located on a 1:25 floodplain & cost $270k/ha, is it really a bargain?
What are the alternative uses for the site? Does it have direct street access?
Have to agree with Scott.
First thing i noticed was land size (390 sqm block)… mind you $11000 is small change and possibily worth a bit of speculation .
Good luck with it…The property is on a main drag hence the road frontage. All it needs is kerb and gutter.
In other parts of the area which have been rezoned you can build on 250sqm blocks as there are lots of finger blocks there.
It is a specualative play.
Also, I can rent the place for storage, or to put up a big banner. if I get $40pw rent thats still 20% return in Sydney? Not ideal, but it is ok. My ideal is to get $200pw rent.
The water routes are being changed as infrastructure is going into the town so this will be a positive.
Great buy Nathan, congratulations.
If you don't mind, how did you manage to spot this kind of cheap land? Did you go through real estate agent?Water front in Rivo is always good Nathan. As for storage, it will probably set you back just as much again to put up a chainwire fence around the site.
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