Doonside - something wrong

[RetireRich101]

Thanks for the feedback on my Doonside property, actually when I purchased this property 4 years ago now I was told not to touch the area, but at the time I was chasing cash flow and it has been a great performer, always rented and had no problem whatsoever with calibre of tenants.

You did well with Doonside, as with anyone told not to touch 2770 few years ago.
Agent fees can be negotiated to 5.5% if you haven't already..

People say Blacktown and LGA has taken off and is too late to get in. Where else you can buy a property for $400K and takes under 40min on express train from Blacktown station to the city every 10min during peak hours with the new train timetable.

 

[RetireRich101]

When do you think BLEP is expected to be approved by? I know earlier they said Dec 2013.

my last talk with council on this topic was 2months ago, and was still up in the air and dates unconfirmed. The FAQ also advised no early than end of this year.

 

[XMW]

I think it will highly likely there will be a new DCP for the BLEP 2013, as the current DCP 2006 doesn't match the initiative stated in the BLEP 2013. I would also think this be available once BLEP 2013 is signed by the Minister, but last few months Council facing backlash as the BLEP involves acquiring some private property for open space

One of my property was affected and I just sold it two month ago. Had it not been affected by new BLEP 2013, it could have fetched 40k more easily. Apart from submitting of my objection on council's website, nothing I could to really (don't think I could sue the council for the loss). Anyone else on this forum sold property affected by Blacktown city council's BLEP 2013?

 

[MTR]

It will be interesting to see if this RE agent gets back to me with a development site in Marayong, he said it is a property where I can retain the front property and build at rear.

 

[RetireRich101]

It will be interesting to see if this RE agent gets back to me with a development site in Marayong, he said it is a property where I can retain the front property and build at rear.

Probably a battle axe development. I think the requirement has changed in blep2013 for b-axe. If this this the case watch out for what RE is telling you as they might refer to current/ previous dcp....

 

[RetireRich101]

Just trying to find out status of blep2013 so I made a call to council. Yep was a waste of phone call.
There is a last council meeting in Dec for the year. Thy might announce then or they may not as they still going thru the submission.
There will be a new dcp but this have to come after blep2013 is in full operation and thus could be months or light years so for now dcp2006

 

[MTR]

Probably a battle axe development. I think the requirement has changed in blep2013 for b-axe. If this this the case watch out for what RE is telling you as they might refer to current/ previous dcp....

Thanks, I never take what agents say as gospel, will be doing my own homework

 

[RetireRich101]

There is actually quite a bit of those. Some have been sold to private buyers just in time....feel sorry for the uninformed naive buyers who have bought 1000sqm odd blocks or corner blocks thinking they bought something awesome!

It's not end of the world when the property is zoned for open space, its just the uncertainty and pain going through. Even now, if you put one of those property and listed as 'council declare interest in this property' there will be people buying it.

don't forget when the time comes and Councils acquires your house, they will pay you Solatium (a fee for inconvenient you) of ~$20k and supposingly market value of your property. Note Council will use their Valuer for the process and is enough said about valuer in other threads... The downside is once blep2013 is gazette, you can't build a granny flat, subdivide or sell in a open market. The only person you can sell to is Blacktown Council themselves... and they can chose buy it tomorrow or 25 years from now.

 

[XMW]

It's not end of the world when the property is zoned for open space, its just the uncertainty and pain going through. Even now, if you put one of those property and listed as 'council declare interest in this property' there will be people buying it.

don't forget when the time comes and Councils acquires your house, they will pay you Solatium (a fee for inconvenient you) of ~$20k and supposingly market value of your property. Note Council will use their Valuer for the process and is enough said about valuer in other threads... The downside is once blep2013 is gazette, you can't build a granny flat, subdivide or sell in a open market. The only person you can sell to is Blacktown Council themselves... and they can chose buy it tomorrow or 25 years from now.

Yep it was extremely painful to sell my house. It took nearly 7 weeks to sell my house, while all property around my house not affected by Blacktown City council's BLEP normally sells at first open. Very limited pool of buyer in such affected property.

Eventual buyer is a FHB and he didn't care less about this BLEP as he intends to live there for a long time. Glad I sold it, even it sold for 10% less had it not been affected by BLEP.

 

[anisavvu]

Can anyone explain how will the BLEP 2013 going to impact the addition of Granny flat.
on a house. I have house at Curran Road Marayong, it'a 650 sqm perfactly ractangular block with a small fibro housr at the front.

I wish to add a granny at the back, so won't it be a good idea to lodge the application for a granny now.....before tge new rules kuck in....

Secondly, is't it that tge development of granny is now under the state government rules rather than council ?

 

[RetireRich101]

Can anyone explain how will the BLEP 2013 going to impact the addition of Granny flat.
on a house. I have house at Curran Road Marayong, it'a 650 sqm perfactly ractangular block with a small fibro housr at the front.

I wish to add a granny at the back, so won't it be a good idea to lodge the application for a granny now.....before tge new rules kuck in....

Secondly, is't it that tge development of granny is now under the state government rules rather than council ?

The BLEP2013 is not going to impact SEPP, ie Granny Flat construction unless your property is marked little green space by BLEP 2013.
Quick look at Curran Rd there is no green patch

http://apps.blacktown.nsw.gov.au/blep2013/index.cfm?puuid=D842426C-5056-991A-C125-0734DF24E2FB

look for Land Zoning Map 13
when BLEP2013 is complete your property will be R2 low density...

 

[MsAli]

Looks like it's another 6-7 months till BLEP 2013 is gazetted..

http://apps.blacktown.nsw.gov.au/blep2013/docs/Council Report/SD330109.pdf

 

[RetireRich101]

500+ proposed Council/Road acquisition, now down to about 100.

That is a big win for the local residence that got affected. Congrats!!

Not so much win for Council. Can you imagine over the course of few years these Council devoted workers living off our tax payers money, using their green highlighter pen marking recreational open space, and now having to erasing most of them.
This really comes down to poor urban planning IMO.

 

[skater]

500+ proposed Council/Road acquisition, now down to about 100.

That is a big win for the local residence that got affected. Congrats!!

Not so much win for Council. Can you imagine over the course of few years these Council devoted workers living off our tax payers money, using their green highlighter pen marking recreational open space, and now having to erasing most of them.
This really comes down to poor urban planning IMO.

I don't think it's poor planning at all. It's council greed! Here we have a Council that is acquiring people's homes. Knocking them down & then building new subdivisions on land that has previously been 'acquired'.

 

[RetireRich101]

bummer, my IP located behind Show Ground precinct off Richmond Rd initially proposed as R3-Medium density, is now scaled back to R2-Low Density.

basically the Kent St to Lyton Rd will be flat R2-Low Density including the proposed council open space acquisitions..

can't get lucky with blacktown council.

 

[MsAli]

Where did you determine that ? How can we check the current status of our IP ?

 

[RetireRich101]

http://tinyurl.com/m6zo293
This document specific mention of Show Ground Precinct which my properties reside, so I call them up. They advised as as per above. Luck when I purchased so many years wasn't for the rezone anticipation so I don't feel that bad.

 

[MTR]

Just to give you an update on this, got a bank valuation last week and great result came in at $440,000, I believe if it was renovated would be much higher, nice surprise

 

[RetireRich101]

Nice!. still undervalued about $50k as is though IMO

 

[MTR]

Nice!. still undervalued about $50k as is though IMO

Thanks
Lets see whether there is any more steam Syds West corridor in 2014, very interesting times