Hi all,
Just wondering if anyone can offer any advice here. My friends own a really rundown block of flats in Ashfield, NSW (inner west). There are 4x2BR flats in the block. They want to knock down the whole lot and build a brand new block. They've owned this for many years now, and plan to hold on to it for the long term after development as well.
Problem is, the council has become really sensitive to people over-developing in the area. (Ashfield is basically chok-a-blok full of apartments) They've told them that 50% of the land now must be landscaped gardens, and therefore they can only build on the other 50%. This leaves them with being able to build only 8 apartments (mix of 1br and br). This makes the whole project almost untennable.
What I find suprising that large developers (like meriton) have recently built HUGE blocks of apartments in the same suburb. So how come they were allowed to do it?
Does anyone know if councils can somehow be persuaded to change their minds and let you build more flats? Or if they say wait a few years, will the council change their policies?
John
Just wondering if anyone can offer any advice here. My friends own a really rundown block of flats in Ashfield, NSW (inner west). There are 4x2BR flats in the block. They want to knock down the whole lot and build a brand new block. They've owned this for many years now, and plan to hold on to it for the long term after development as well.
Problem is, the council has become really sensitive to people over-developing in the area. (Ashfield is basically chok-a-blok full of apartments) They've told them that 50% of the land now must be landscaped gardens, and therefore they can only build on the other 50%. This leaves them with being able to build only 8 apartments (mix of 1br and br). This makes the whole project almost untennable.
What I find suprising that large developers (like meriton) have recently built HUGE blocks of apartments in the same suburb. So how come they were allowed to do it?
Does anyone know if councils can somehow be persuaded to change their minds and let you build more flats? Or if they say wait a few years, will the council change their policies?
John