MissyParticipant@missy45Join Date: 2015Post Count: 6
Hi all, I would love some help with this. I paid $716k for a 650 m2 property on the service road on Nepean Highway. I am new to the forum so I now realise that I probably shouldn’t have bought it but it is near Southland and train.
The house is average and in the middle of the block. I don’t know whether to renovate and sell or build 2-3 town houses. The cost may be prohibitive as maybe overcapitalising. I owe $540k and have an interest only loan at 4.89% fixed for another year. I also have $150k of shares but to sell them means CGT.
Any thoughts would be appreciated!!!!Baz80Participant@bazclarkebuildsJoin Date: 2014Post Count: 5
First of all well done on the purchase. I know the area quite well and being close to Southland and the train station is a great bonus.
As this area of Cheltenham is pro-development I believe the possibility of 2-3 townhouses on the site is quite achievable.
I am a Builder/developer and work with investors on joint Venture opportunities.
If this is something you might be interested in please feel free to contact me.
[email protected]#Planning PermitParticipant@planningJoin Date: 2014Post Count: 64
Hi Missy, I specialise in obtaining multi unit town planning permits for developers. Cheltenham is a good area but check the zoning first. Close to Southland coould mean a favourable zone. BTW a new rail station is starting at Southland! The further you go away from Southland the more restrictive in development. I can help assess your site with great accuracy having done this for hundreds of properties around Melbourne.