Battleaxe block - issues to be aware of?

[bene313]

We are looking at a potential PPOR on a battleaxe block.

The value of the purchase is in the land content, 395sqm, there's a daggy duplex on top but the price I'd say is block value.

The price actually is a bit lower than comparable block sizes in the area. Perhaps because it's a battleaxe block.

Is there anything specifically I should be aware of with purchasing a battleaxe block? We are not looking at developing, but I'm interested in how the shape of the block affects the value of it. The block becomes quite skinny towards the back.

Thanks.

 

[DaveM]

Look for location of easements, I once found a nice house on a battleaxe, then I saw that the house was built between a stormwater easement and a sewer easement, making extending a very expensive thing to do.

 

[Scott No Mates]

Also check who has to pay to maintain the access handle to the property.

 

[Aaron_C]

Battleaxe isn't a problem per se as long as it is a nice property. But you will generally get a lower value because people pay more for street frontage.

 

[eggnog]

What is an access handle

 

[Aaron_C]

What is an access handle

A battle axe is a block of land that has a large rectangle that is accessed by a narrow strip of land. This is the 'access handle' because it looks like the handle of an axe.

 

[eggnog]

So why do you have to find out who has to maintain theaccess handle. Wouldn't the owner of the block be the owner of the handle and so have to maintain it

 

[Aaron_C]

Not necessarily. Sometimes the handle is not part of the land but is just an easement instead. So it gets a bit more complicated.

 

[DaveM]

Not necessarily. Sometimes the handle is not part of the land but is just an easement instead. So it gets a bit more complicated.

And sometimes there are two battleaxe blocks side by side who share a common driveway, so there is shared right of way and burden of maintenance!

Fun fun fun.

 

[pennyk]

we looked at purchasing a battleaxe block, where each property owned 1/5 of the driveway. (divided longways, to ensure everyone had right of access).
thats a lot of people to agree on repairs/ maintenance which, in this case, were desperately needed.