Deserted Properties

[jrc77]

There is a property near our house that is clearly deserted (smashed windows, front door left open, grass two feet high etc). We walk past it regularly and day dream about buying it and doing it up - would be lovely when done.

Pricefinder tells me the sale history:

$1,060,000 11/10/2003 Normal Sale
$430,000 06/05/2002 Normal Sale
$337,500 17/10/1992 Normal Sale

So someone bought it in 2003 for over a million dollars ... $630k more than it sold for the year before, and then have left it deserted??? wtf?

Anyone have a rational explanation for this sort of thing?

Jason

 

[cu@thetop]

Deceased estate?

Local Council would have moved on it for unpaid rates if no one was paying them so more likely developer looking to get a demolition approval for redevelopment. May be in a demolition control precinct.

 

[jrc77]

Seems there was an approved subdivision on the land in 2007. The owners appear to be the owners of one of the the adjoining properties. Nearmap shows that there has been some extra structures on the property removed (condition of the subdivision approval it seems) in the past couple of years.

Got to love internet spying

Regards,

Jason

 

[hematite]

Wow, in Beecroft of all places too?

 

[ozsupra]

I see properties like this all the time. Originally I started contacting the owners to see if I could purchase them. I have never once received a message back. I can only assume as stated they are either a deceased estate or a long term investment awaiting a DA or an increase in land prices or some form of tax offset. Makes my cry.

 

[redwing]

Seems there was an approved subdivision on the land in 2007. The owners appear to be the owners of one of the the adjoining properties. Nearmap shows that there has been some extra structures on the property removed (condition of the subdivision approval it seems) in the past couple of years.

Got to love internet spying

Regards,

Jason

Was the subdivision built on?