Farm re-zoned to residential sale

Hi,

We own approx 40 Acres of farming land in Cobram Victoria that has recently been approved by the Minister of Planning for resedential development.

It is a unique piece of land as it is the only remaining piece that is close the town centre (approx 5 min walk).

We are looking to sell this land and have put together a proposal outlining all the important details.

We need some help as to who to send this too and/or finding someone who would be interested in an opportunity like this?

We look forward to hearing back from you for any ideas/thoughts.

Thank-you
 
Hiya

Great news for you from a financial point of view !

Rural Residential or Residential proper...............what will be the minimum lot size under the new zoning please ?

ta
rolf
 
You waon't have any problem selling this sort of property. Perhaps a tender process may be best.

But.............. I would suggest that if it has just been re-zoned you can value add a very significant amount by gaining a DA before selling - or if you have the financial ability do the whole process yourself. Of course it depends on your circumstances, but look into these options before you pass up a fantastic opportunity.
 
good for you skeeter. It is my understanding (and I may be wrong ) that a developer will price it at one third his expected final sales amount. for example. If he is expecting 150 000 per block and he can get say 4 blocks per acre then he would pay 8 million for the land i.e. pay 50k per block, 50k development costs per block and make 50k profit on each. This is for raw land and was told to me by a developer about 3-4 years ago. I am in QLD too so I dunno what it is like down there. I hope that gives you a starting point anyway.

I would suggest having your minimum sale price firmly in mind before putting the property out there.
 
Thanks for the replies.

Rolf Latham the rezoning will make it resedential proper. 3 stages have already completed on the site prior to this new re-zoning. Approx 160 lots will fit in the remaining acres based on a lot size of 800m2.

joanmc thank-you for that info, that will be a great help in justifying a price.

Plan_Trader can you explain exactly what you mean by a DA?
 
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