Development potential in Perth
- Thread starter vmmg1992
- Start date
speculating?
all suburbs have development potential pockets within them.
you need to understand your market to see the bargains. anyone can grab a corner duplex lot and put two houses on it, which is why you pay more and make less with this approach.
there's plenty of development opportunity in Coolbellup, likewise Midland, likewise Edgewater, likewise Fremantle.
Recently saw a small 180sqm R60 lot in Hamilton Hill for $310k (overpriced!) - but that can yield a pair of 2x1s.
You need to know your suburb of choice. Look at how sanj, westminster, MTR, sash operate.
all suburbs have development potential pockets within them.
you need to understand your market to see the bargains. anyone can grab a corner duplex lot and put two houses on it, which is why you pay more and make less with this approach.
there's plenty of development opportunity in Coolbellup, likewise Midland, likewise Edgewater, likewise Fremantle.
Recently saw a small 180sqm R60 lot in Hamilton Hill for $310k (overpriced!) - but that can yield a pair of 2x1s.
You need to know your suburb of choice. Look at how sanj, westminster, MTR, sash operate.
not likely, no.
would be a good decade off at least - in 2009 i remember a quote from the councilllors re: a high profile site on Yirrigan Dr (proposed R60 instead of R40) saying "high density in this area is decades away".
some areas in Mirrabooka are R40 - R80 already though - around Herb Graham and Northwood Ave.
this thread was archived from 2010 >
http://somersoft.com/forums/showthread.php?t=65133
Pretty sure I know the Hammy Hill one and it's survey strata
vmmg1992 : there is quite a few sub $400k if you are willing to go a little higher risk, vacant land or outside the square. Look at any of the newer estates (Baldivis, Clarkson, Southern River) and find the blocks with the higher R40+ densities and see if they have a single dwelling covenant on them or not. If they don't then find one that can do a duplex/triplex etc
it is, but that doesn't change the number of dwellings, only the number of titled dwellings.
design a 4x2 as a dual key pair of 2x1s and add 60% to your rental return.
design a 4x2 as a dual key pair of 2x1s and add 60% to your rental return.
So the bank will still value as a 4x2.
Is there any extra requirements for parking?
Im assuming a title search which will show the existence of a covenant and can be costly. Some large estates should have a list of their covenants freely available. Anyone know where to search for them?
yes mate - it can never be titled separately (without redoing the entire strata sub plan) so it will always be a single title.
no more parking req'd than a 4x2.
All Intramaps not working?
Most new estates will have a DAP registered with the local council that may or may not be online. It will show the zonings and any special over/under Rcodes that they have.
Often it's easiest just to talk to the REA in charge of the Estate they should have a copy of the estate plan, the DAP, convenants, design guidelines etc
Then if you find one that fits the criteria confirm it all with local council that it's all correct and not REA ********
Easiest to ask, they have to give them to you as they are part of the contract of sale and disclosure
Interesting way to max the yield. Obviously lose out on the ability to max out revals with proper separate titles though.
Some thoughts:
If DA is a 4x2, can we get separate meters etc? Would council make a fuss if its clearly for dual occupancy as there are 2 kitchens etc? (in cases where it doesn't meet the 450sqm ancillary accommodation rules)
Would council let us put it as 2 grouped dwellings on the DA? Then meet all the normal grouped dwelling requirements etc. Even if we know we can never subdivide, it'll be good that legally we're allowed to have the two separate dwellings on that one title.
Would we be able to put multiple dwellings on a survey strata lot?
You apply as if a multi dwelling, just dont sep title. Local Govt has delegated auth over build strata anyway. Not sneaky or deceptive, just two dwellings on one title. Can easily be sep metered and serviced.
Anyway, this is getting OT. The point is there is opportunity in every suburb, hot or cold, north or south, east or west.
Anyway, this is getting OT. The point is there is opportunity in every suburb, hot or cold, north or south, east or west.
Thanks for that extra info.
Agree on opportunity anywhere, just have to pick a strategy or area to look at to narrow your focus.
Pretty sure I know the Hammy Hill one and it's survey strata
vmmg1992 : there is quite a few sub $400k if you are willing to go a little higher risk, vacant land or outside the square. Look at any of the newer estates (Baldivis, Clarkson, Southern River) and find the blocks with the higher R40+ densities and see if they have a single dwelling covenant on them or not. If they don't then find one that can do a duplex/triplex etc
Hi guys, sorry in advance for stupid questions but I'm getting really confused. So i know you can build a 4x2 and seperate into a 3x1 and 1x1 on an R20 Lot as long as the Lot is 450sqm in size.
What are the reqs for an R30 or R40 Lot? For example, if I had a 375sqm Lot zoned R30, with no single dwelling covenant, could i build a normal 4x2 and convert into a 3x1 and 1x1 with no issues in shire?
Or if I had an R40 Lot which was only 300sqm, could I build a 3x2 and convert to a 2x1 and 1x1 with no issues in shire?
Sorry if these are confusing questions, I'm just doing my head in reading the r-codes over and over..
Are you talking about ancillary dwellings? Those rules are separate from the residential zonings.
Yeah that's probably why I'm confused - I'm referring to ancillary dwellings or single bed dwellings.
