construction of a boarding house in sydney

Discussion in 'Commercial Property' started by belmoreclark, 16th Nov, 2014.

  1. belmoreclark

    belmoreclark Member

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    True, good idea bro. Thanks for that, might ring them lunch time
     
  2. Scott No Mates

    Scott No Mates ...and people wonder why?

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    That link is just for a town planner
     
  3. belmoreclark

    belmoreclark Member

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    Yep, they are town planners, and they have architects who can do design works etc, and they also do DA.
    Seems legit, any comments on them Scott?

    Thanks :D
     
  4. belmoreclark

    belmoreclark Member

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    This one is sold three, four month ago, and agent refuse to tell the sold price, which is understandable.
    Two storey floor plan, with 4 car parking space under ground. Two buildings permitted, each has 7 or 8 self contained studios.
    The construction cost approx 1.8 million. Does any one know if underground car park would be really expensive?
    But still, felt 1.8 is a lot more expensive then I thought it would be....
     
  5. Scott No Mates

    Scott No Mates ...and people wonder why?

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    Underground parking should be avoided if possible ($$$$$). There is a small block built at the bottom of Grosvenor Cres Summer Hill (Ashfield Council) and another on Old Canterbury Rd Hurlstone Park. Neither have underground parking. The Summer Hill site has two parking spaces, ambo space, bike spaces, Hurlstone Park has RLA, don't know how many spaces.
     
  6. belmoreclark

    belmoreclark Member

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    Went to council today, spoke to a town planner. So far so good. :)

    Fsr: according to the planner, my land should be 1:1 which is really good


    Height limit: 8.5 meters max, means do blue storey is possible

    Set back: no regulation sets the standard for boarding house yet, which means it is more flexible if I apply now, but planner said new boarding house control will be out mid next year, so I guess will have to be quick on getting DA approved to avoid that then.

    Submission: neighbors against the DA, doesn't affect council on their decision making, it is more whether this DA comply with all the regulations and rules
    Which is a relieve for me as well. Planner said once they got about 1000 signature on submission going agaisnt a DA but it still got approved.
    I guess it's all up to my town planner/architect to come up with a complied plan.

    0.2 car parking space for every room we have.
     
  7. belmoreclark

    belmoreclark Member

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    Yeah, I agree, will avoid underground car parking.
    With the set back regulation blank on boarding houses, we could take some advantage on that and make the car parking all set on the front. That's just my guess, will know when I talk to the town planner.

    :)
     
  8. Scott No Mates

    Scott No Mates ...and people wonder why?

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    Check the sold results on house.ksou.cn or onthehouse.com.au
     
  9. Scott No Mates

    Scott No Mates ...and people wonder why?

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    Height - you may even get 3 storeys with a reasonably flat roof.

    Setback/parking - 12 units will require 3 parking, no mention of visitor space/disabled/ambulance space.

    When is the new DCP due out? Is it on display? Has it been submitted for ministerial approval?
     
  10. gach2

    gach2 Member

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    Cant boarding houses be done through Complying Development.

    Remember reading about on SEPP site
     
  11. Scott No Mates

    Scott No Mates ...and people wonder why?

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  12. gach2

    gach2 Member

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  13. bumblegoodie

    bumblegoodie Call me BG

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    hi Belmore,

    how did you go with your boarding house search any luck?


    market in sydney is going wild and insanely expensive so is it worth to buy?

    BG
     
  14. Mick C

    Mick C Mortgage Broker

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    Hi

    Not sure how your going with the boarding house project but here's a few hints.

    1. There are grants available for boarding house ( it's limited now and i think there's plan to axe it or reduce the amount around mid this year...so get in quick!

    http://www.housing.nsw.gov.au/Centr...e+housing/Boarding+house+-+New+supply+grants/)

    From exp some of our clients has gotten around $5,000 per boarding room...better than nothing :p


    2. Make sure the numbers stack up....are you planing on keeping this for rental yield or selling it off? ( it's not easy to sell...- look at the price and demand if you sold as a boarding house VS a new luxury house etc...)

    http://www.news.com.au/finance/real...e-homes-for-2014/story-fncq3era-1227200605515

    :p

    3. Make sure you have the funding capacity...this is a commercial loan...and to a point a specialized commercial development loan as well...should you only finish half the project- it be VERY HARD for the bank to sell this project off.

    No point you spending 2-5k on all these checks and realize the bank is not gonna fund you.:eek:
     
  15. belmoreclark

    belmoreclark Member

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    Yeah mate, it is so expensive now in the inner west, also don't even need to mention, the inner city. These area have great number of population but I just can not afford to buy one in such area.

    But from my point of view if I can get approval for a new boarding house in the west where has convenient public transport with 20rooms, this is still worth it.
     
  16. belmoreclark

    belmoreclark Member

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    Thanks for your reply,
    I think the same way with the funding issue, so my plan is:
    1. Get the land that I desire first,
    2. Get the council approval,
    3. Test the plan with many builders or see if the option of me building it is possible, if the price is too dear to build by my own funds, i will then seek funds from bank,
    4. If the bank won't lent the money, I'll then sell the place with the approved DA.
    By then I should know if I am capable of finishing this project by my own resources.

    :)
     
  17. Scott No Mates

    Scott No Mates ...and people wonder why?

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    Something that you will also need to consider in the design phase of any building offering either mixed uses or short term accommodation: Accessibility
     
  18. JohnHenry

    JohnHenry Mister

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    Is it somewhere close to Ashfield ;-)
    I've seen one and almost rent one room there for myself, but I ended up living in a granny flat in Ryde.
     
  19. fullylucky

    fullylucky Member

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    everyone gets their own toilet? the idea sounds good. but will it work in practice? how will you share the water bill? it's covered in the rent?

    if the toilet is in a private area and not shared common area how do you know if the boarders are not spamming the water? you would need to treat them like gods if you don't they will make you pay...
     
  20. Scott No Mates

    Scott No Mates ...and people wonder why?

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    Own toilet?!#*&

    Next they'll be expecting hot water too not just a bucket and slow dripping tap.