My next door neighbor owns 2 block of land. The total size is 1441 square meters (34 meters by 42.4 meters) They will demolish their home and build 8 double story 2-bed rooms units. I just got the detailed plan from Council.
The street is a very quiet NO-Trough road and has 16 blocks. Only one block was subdivided to two residence a few years back.
My land is 711 square meters (16.9*42.4). I am planning to demolish my house and build 3 units on my land 2 years later. The house is rented out at the moment. I'd like to know the impact to my rental property and my potential development.
If I don't develop my place , will the 8 units next door degrade the capital value of my house and rental income ?
What kinds of reason would be considered reasonable by Council if I ask them to change their plan? e.g. build 6 rather than 8. What factor should I consider ? e.g. car parking shortage on the street?
Any negative or positive impact to my potential development if I reject it ?
I know they want to go ahead at all costs. The chance to stop the development is little. I just want to minimize the impact to the capital value of my house and potential development.
Any suggestion would be highly appreciated. Thanks.
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The street is a very quiet NO-Trough road and has 16 blocks. Only one block was subdivided to two residence a few years back.
My land is 711 square meters (16.9*42.4). I am planning to demolish my house and build 3 units on my land 2 years later. The house is rented out at the moment. I'd like to know the impact to my rental property and my potential development.
If I don't develop my place , will the 8 units next door degrade the capital value of my house and rental income ?
What kinds of reason would be considered reasonable by Council if I ask them to change their plan? e.g. build 6 rather than 8. What factor should I consider ? e.g. car parking shortage on the street?
Any negative or positive impact to my potential development if I reject it ?
I know they want to go ahead at all costs. The chance to stop the development is little. I just want to minimize the impact to the capital value of my house and potential development.
Any suggestion would be highly appreciated. Thanks.
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