Are you the next-door type?

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From: Martin .


Imagine if one of your IP's just so happened to develop a board in front of the fence next door...

Would that be too boring to consider, too non-diversified to be intelligent, or too irresistible to contemplate?

Not wanting to get attached to something that is almost attached to something I'm already attached to, but of course focus on the numbers - right?

Would you like to see one of those boards pop up next to one of yours?

ML.
 
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Reply: 1.1
From: Michael Croft


Do a quick check of your local planning rules and regs. Is there any advantage to site amalgamation? ie. can you sell two blocks to a developer who may put townhouses on it (or do it yourself) which you would not have been able to do otherwise with one block?

Does the deal stand alone? Often, but not always,all the good reasons you chose to live where do did are still valid and may result in good growth.

Michael Croft
 
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Reply: 1.1.1
From: Anonymous


Can you fit on a bungalow?
 
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Reply: 1.1.2
From: Michael Yardney


Michael Croft makes a good point above.
A few weeks ago we approached the owner of the adjoining property to one owned by one of our clients to purchase his property. The client now owns 2 adjoining properties. On their own they would accommodate 3 and 2 units respectively.
Together he can now accommodate 6 units. At about $140,000 per unit site the combined site is worth much more than the sum of the 2 individual sites.
But this does not always work. Go to the council and ask a few questions - see if amalgamating the 2 sites has any benefits then see a local architect or development consultant or QS to get some ideas of what you could do with the combined site.
It also depends what is on the property -if the houses are too good to demolish and develop the site maybe the sums won't stack up

Michael Yardney
Metropole Properties
 
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