Good luck with it Jonathon.....hope the purchase pans out favourably for you
Any thoughts on what premium the corner block would attract over a middle block of the same size?
Yep, totally agree, still haven't quite landed on a figure, but I have no emotional attachment whatsoever to this particular spot, so walking away won't be a problem.You really need to ascertain your walk away bid (purchase price) based upon your feasibility.
To this end irrespective of whether you keep for yourself as rental stock or wish to onsell, you still must not over-pay (regardless of whether it is a corner or not). Your numbers are crucial.
Also depending upon your desired exit strategy with the development, you need to check with your accountant regarding the margin scheme for GST and if (at auction) the vendor is willing to apply the margin scheme to the contract should you so desire and are the successful purchaser.
Shouldn't be a problem with sufficient equity available to only need 40%ish funding if I can't get 80%, but serviceability isn't an issue so there shouldn't be any problem in any case. Worst case scenario I just hold it for a few years as a rental.Also, bearing in mind your anticipated purchase price and intended future development plans, have you got any reasonable idea of your likely finance position from a bank or broker?
Haven't really answered your question in any quantifiable manner and actually asked more of you, however hopefully this assists with your investigations and diligence moving forward.
In addition to Gools post above, I cannot give you a quantifiable percentage figure to add as a premium over and above a site locked by dwellings on either side.
I also like corners for the flexibility and street appeal.
So did plenty of others, this corner block went for $736k this arvo, $126k more than the identical but not-corner block next door 2 weeks ago!