This almost perfectly square site consists of approximately 1300m2 of LMR2/3 land suitable for townhouses or subdivision. The big advantage
to the property is the block shape – the wide frontage should allow for a 5 lot subdivision into 260m2 lots, most suited to rooming
accommodation. The alternative would be townhouses, most likely 8. Buyers around $1.85m to $1.9m should call Justin on 0410511535. Read More
Appetite
Depending on your appetite for pushing the boundaries, this is either a really awesome development site, or worst-case scenario, a fabulous
land bank opportunity with future upside. On offer is a circa 875m2 block of LR land with a huge frontage and a pleasant 3 bedroom home
sitting on it that can easily be converted to a 4 bedroom home. It is LR zoned and located in a quality street, though not far from an
abundance of retail. This proximity allows for 300m2 lots. At minimum we can subdivide into two lots, though our numbers are falling short
for this. Regardless, based on recent nearby sales this is a good pickup even if you couldn’t develop it any further, making it ideal for
land banking. There is a chance, though a long way from a guarantee, of achieving three lots that are circa 290m2 each with sensational
equity gain the result. As there’s no certainty around this option, we do not recommend buying this property if that is your only goal.
However, for those happy to land bank should it not come off, or those simply looking to buy well and have future upside, then this is a
great pickup. Buyers at or just over $1m should call Justin on 0410511535. Read More
It's All About The Road
This 600m2 (approx) LMR zoned corner lot is perfectly poised for a two lot subdivision for Rooming Houses, however, it all comes down to the
road! There’s a number of constraints along the frontage and out initial research suggests there’s only two locations where driveways can be
located. Luckily for us they’re right where you want them, but we’ll need a conditional period to confirm this. Our numbers are indicating a
potential gross rent return from the two houses of about 9.25% and a modest equity gain of just under 16%, but make no mistake, you’ll never
want to sell! It has gotten increasingly difficult to source affordable subdivision sites so we jump when we find them. Buyers around $820k
should contact Justin on 0410511535. Read More
Chances
There is most definitely a Risk Vs Reward strategy with this one, but no matter which way you look at it, the attractiveness of the position
and location cannot be denied. On offer is over 1000m2 of LMR2/3 land backing onto quality green and lifestyle space. Just that land size
alone in combination with the location is enough to justify the price, not to mention we’re talking a lower dollar per square metre land
area than we typically for LMR zoned property. That’s reason enough to take the chance! The complication here though is twofold. The first
is a heavily altered pre-47 dwelling the technically needs to stay, but we believe we’re a decent chance at removal, and the second is the
fact it goes to auction in two weeks. We’ve come up with a variety of development options, depending on whether the house gets removed and
how large you want to go. Buyers around $1.75m. Read More
