Hi guys,
I have been looking at a DA opportunity in the Hornsby Shire Council. The land is 1400 sqm and I plan to subdivide the same into two.
Is there any specialist on this forum that specialises in NSW? There was a previous DA approved which has now lapsed and hence I think it would b easier to get the DA approved the second time.
Any advice, if its wortwhile just getting the subdivison done and then selling the two individual plots? i have never done a subdivison before and hence would want to get advice from seasoned players as to what kind of percentage returns should one look for to make this meaningful?
Thanks for all the help
Cheers
Firstly just because the land had a preivous DA doesn't mean you will be able to get DA again. Policy changes and you will not be able to get DA second time around. An example is the old dual occupancy code in Willoughby which changed several years back.
Talk to a town planner familiar with the council. If we are talking Hornsby – your man is Ian from http://www.glendinningminto.com.au/mpages/contact.shtml
Have you considered Sepp 5 on the property?
Regards
Shahin
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Shahin,
What is a Sepp 5?
I have never done a subdivision before so pardon me for my ignorance.
I shall contact Ian and get some info from him. I have also asked the agent to give me the copy of the previous DA done.
You should go into council and request copies of everything you can.
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Check this website out. If you can do Sepp 5 (old name but everyone calls it this) then the numbers are in your favour more than what you originally proposed.
Regards
Shahin
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Helps if I paste the website
http://www.austlii.edu.au/au/legis/nsw/consol_reg/seppfsopwad2004826/
TheFinanceShop | Elite Property Finance
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Shahin,
What I understand from Sepp 5 is that the property has to be used by the elderly or the disabled.
By doing a Sepp 5 wouldn't i be reducing the available pool of people buying the subdivided plot and thus affecting the price of the subdivided plots?
Is it easier to get a Sepp 5 approved by the council? Once approved can i then change the usage of the plot?
Cheers,
Hi,
Not a pro..but undergoing my 1st subdivison via the Hornsby Shire Council as well ( Cheltenham)…and i can tell you they are a pain in the ass! my land is 1,250 and it's a corner block with 2 street access – took ~5 month..
You should DL the DCP ( Development control plan) it explains EVERYTHING! Hornsby has 8-9 different DCP depending on your zoning.
Click below for PDF
Happy reading
Regards
Michael
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Yes that is correct but you will not have any issues with either resale or renting it out due to the demographic in Hornsby and Kuring Gai (im from Gordon). The benefit of the Sepp is that you are following State Development Guidelines rather than the outdated and backward council DCP.
Do you due diligence on both and see which one looks better. Michael said it took him 5 months – I think you should count yourself lucky it took you that long.
Regards
Shahin
TheFinanceShop | Elite Property Finance
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Thanks Michael.
I shall read the docs. I am looking at Thornleigh.
TheFinanceShop wrote:Yes that is correct but you will not have any issues with either resale or renting it out due to the demographic in Hornsby and Kuring Gai (im from Gordon). The benefit of the Sepp is that you are following State Development Guidelines rather than the outdated and backward council DCP.Do you due diligence on both and see which one looks better. Michael said it took him 5 months – I think you should count yourself lucky it took you that long.
Regards
Shahin
Hi Shahin,
I may be wrong but wouldn't the LEP and DCP still apply given that the development would be assessed under Part 4 of the EP&A Act? The SEPP would prevail to the extent of any inconsistencies but would it be worth it?
Yes and no – there are certain sections that the State policies refer to the DCP so they work side by side.
Would it be worth it? Depends on the area – every is doing Sepp 5's in Kurring gai because its almost impossible to do it via the council policy. Land value is high so numbers stack up in that area.
Regards
Shahin
TheFinanceShop | Elite Property Finance
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Hi
Andrew from these guys seems to know his stuff
http://thedesignpartnership.com.au/about/meet-the-team/
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