Developing a steep site

[pennyk]

We have a development site in a well-to-do northern suburb of Sydney. Its 4 adjacent blocks, each with a house on (3 large brick houses in good condition, 4-6 bedrooms each and 1 original weatherboard in OK condition, but really a knock down rebuilt).
The total land size is well over an acre, but they are fairly steep blocks. The houses are all split level, built on partially flat section at the front of the block. then there is the backyards, which consist of a fairly steep section initially and then a relatively flat area at the bottom. Each of the blocks is narrow and long. next door is a battleaxe block. the front house is already for sale, by someone else. the rear house would give a ready made driveway to the back section of the land. otherwise, a new driveway/ road would need to be built to access the back section.

I'm not sure on zoning. There are other medium density houses in the street (villas, not townhouses) and also lots of battleaxe blocks.

We want to sell to a developer. but I'm wanting to get feedback from those of you who have done developments on whether developers will consider "difficult" blocks, and also what kind of "premium", if any, we can get over what we would sell the blocks for if we were selling as normal residential blocks.

thanks,

Pen

 

[pennyk]

any feedback?

 

[Kristine..]

Hello Penny

http://www.realestate.com.au/property-townhouse-vic-box+hill+south-107185207

I was involved with the original sales of this development back in 2001

Believe me, that site is steep!

If you look at the satellite image you can see how the developer used the slope to advantage

The units fronting Foch Street have driveways to the street. In at least two of the units, the garage is at the top of the house - drive in, park car, open door, walk down internal stairs into the house.

Having the car parked above the kitchen spooked some people, but my customer (by that time I was working as a Buyer's Agent, not a Selling Agent and I remember driving a very hard bargain for my customer) was delighted with the triple level townhouse -and the rent - and was more than happy with his purchase.

If I really scrounge around I could find the architect's details, but Whitehorse Council would have them.

The steepness of the sight provides for lovely views over the Golf Course,and for some of the townhouses, across to the City.

This little village is really something! Very beautiful, and looking at the current prices, has been a very good investment over the ten years.

Steep sites can be the canvas for some lovely developments which grow into real character places to live

Hope this helps
Kristine

 

[Rockstar]

If it slopes away from the street then stormwater discharge will always be a stumbling block for development down the back - unless you have a sw easement or inter-allottment drainage. This has ruled out many development opportunities throughout the country. Most councils require that roof water be discharged directly into an existing system.

 

[pennyk]

thanks Kristine for your encouragement. I think ours would be able to do this sort of development. It overlooks bushland, so nice views out the back.

Good point, Rockstar. I'll have to look into that further, because the land does slope away from the street. I think there is some stormwater drains at the back of the blocks somewhere. but I'll need to double check.

 

[Rapidcortex]

Developing a steep site - Can I help you?

Penny,

Could you send me privatly the details of your development sites? I will check the zoning and review its development potential. Do you have a survey, section 149 certificate and land title available for review and for each property?

Regards,

Lionel K

 

[pennyk]

Penny,

Could you send me privatly the details of your development sites? I will check the zoning and review its development potential. Do you have a survey, section 149 certificate and land title available for review and for each property?

Regards,

Lionel K

Hi,
Thanks Lionel. I'm overseas at the moment, so dont have access to any information. But I'll message you,
cheers Pen

 

[rexilla99]

Get a architect/building designer to draw up some schematic sketches to see what be be built on the site. Than go see a builder to do some cost estimates.

A developer will only buy if there is enough profit in the project. Sometimes a steep block can add advantages such as views or extra balcony. Not too sure what the views are like but you may need to look at other things such as retaining walls and storm water discharge.

 

[Felixter]

If it slopes away from the street then stormwater discharge will always be a stumbling block for development down the back - unless you have a sw easement or inter-allottment drainage. This has ruled out many development opportunities throughout the country. Most councils require that roof water be discharged directly into an existing system.

Just based on this alone I think it will be hard for a developer to make a profit unless the blocks go cheap. Unless there is a view I wouldn't be confident that you will get a Premium.

The council will most like require you to have retention tanks and system to pump water back up to the street. Making money out of a development in Sydney is pretty tough evn with a block that slopes to the street. If he slopes away from the street it will carve $50k or so out of your profit.

 

[Aaron Sice]

my primary piece of advice with any steep site is tomake the house fit the site not the site fit the house.

put the money into the house and create something unique, don't bury money in the ground with earthworks.