Dear guys,
Have been looking at a property with an old colonial that should be knocked down. Block of land is 1200sm and very close to transport and shops.
However it is well over priced compared to similar properties. The only real difference is that it has "Commercial Zoning".
With this what are the real implications that this will have on the price/value of the property? Does it mean you can build that you can build a greater number of stories in a unit development or utilize more of the land?
Is it special or am I trying to read too much into this?
Appreciate the forums input on this.
Thanks,
Sunstone.
Have been looking at a property with an old colonial that should be knocked down. Block of land is 1200sm and very close to transport and shops.
However it is well over priced compared to similar properties. The only real difference is that it has "Commercial Zoning".
With this what are the real implications that this will have on the price/value of the property? Does it mean you can build that you can build a greater number of stories in a unit development or utilize more of the land?
Is it special or am I trying to read too much into this?
Appreciate the forums input on this.
Thanks,
Sunstone.