Warren K.Participant@tdh777Join Date: 2018Post Count: 4
We have the opportunity to develop 2 large adjoining blocks of land (one with an existing dwelling) that are both zoned standard residential.
There is opportunity to create between 8 and 14 additional blocks as a result of subdivision and demand for land in the area is high.
Sub-division/development of the first block requires up to 400K (including council contributions) and we are looking for a JV partner or partners who would like to assist in this development.
Ideally you would have 400K of Super funds available so that we could all benefit from significant CGT reductions (approximately 200K on the project).
Alternatively, if you are an investor with significant funds and experience to take the further step of building townhouses on the blocks and making additional profit that way we would also be interested in talking.
If you are interested, or know someone who might be, please call me directly or reply on here.
Thanks everyone !
0425 331 544.
Robert KingParticipant@robertkingJoin Date: 2016Post Count: 13
- This topic was modified 1 year, 11 months ago by Warren K..
I do not fit the ideal but I have been interested to understand the project further if you do not find the partner you are looking for.
What is the location of the subdivision and do you have a feasibility calculation completed and build quotes/cost forecast etc?
RobertWarren K.Participant@tdh777Join Date: 2018Post Count: 4
Thanks for your reply.
Project is in a Major regional town in NSW receiving a massive influx of retirees + people moving to slightly less hectic lifestyle while still having all the “mod cons” (generally after cashing up their properties in Sydney.)
Feasibility calculation so far is only done at the preliminary stage for subdivision-level only with very pessimistic assumptions making very large allowances for overruns, council demands etc. We wanted to be sure project could be profitable if we were constrained to only be able to do the minimum (subdivision).
Am waiting on a consolidated formal fee proposal from the local Town Planning agency for the range of consultants required to prepare a master plan in moving towards a formal DA. The TP agency are somewhat familiar with the site having done some preliminary work for the previous owners (who are retiring/cashing in due to the wife having cancer).
No costings done at all on the possible construction side except very ball-park figures based on information from on-line Quantity-surveying high-level calculators, as although there is significant potential there this would require significantly more capital (or a build-now, get-paid-on-sale deal with a builder with deep pockets..)
Essentially we know we can make some decent money just from subdivision but are certainly open to other revenue-creative uses an experienced JV partner might see possible on the site.
So early days at this stage but we wanted to sound out the community to see what the likely possibility of a JV partner was as this could significantly influence our funding strategy and overall timelines.
Happy to keep you informed as things progress and we have more precision on costings etc. Or feel free to ring and discuss any time.