Any armchair valuers familiar with nth Brisbane area?

I'm preparing documents for preapproval for a construction loan and need to determine the value of the vacant land. It is a 400sq flat, rectangular block in Chermside.

As the block has just been split and not yet titled (this should happen in the next 4 weeks), I can't get a valuer in to value the new block.

The most recent comparable was in Feb 14, being a 400sq block, which sold for 368k.

Has anyone got any guesstimates on what the land would be worth? I'm trying work out a rough LVR to borrow as much as I can on the construction component. I was thinking around 400k but only buying into the Brisbane market 6 months ago I'm largely unfamiliar with the area.
 
Usually you only get the value as is, until the the subdivision happens. So the most recent sale you have or the rates notice val divided by 2 is probably a good estimate. Unfortunately even if the construction portion is valued higher than the construction costs most lenders will restict the value to the build costs in any case. Banks, they always have it both ways.
 
Thanks tobe.

I'm just trying to quantify the value post titling. It's just a preapproval at this stage pending the sale of the other half of the property so the val won't actually be ordered til the titling is complete.
 
Mid - High 300's.

I just got my 2 blocks at Virginia valued at $330k, and chermside is much better.

The issue is also availability, not many vacant blocks around.
 
I'm also interested in this topic as I bought an 800sqm splitter block in Chermside West for $570k last year.

Have no intention to do the knockdown for a number of years though as it is still quite a nice 4 bedroom house sitting in the middle..
 
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