Hi there,
This is my first post. I have been a property investor for some time with a modest portfolio.
Now I need some help in stepping up to a higher level.
I have done a few small corner/battle-axe sub-divisions that were not too hard, as the surveyor did most of the work.
There is a very sweet deal to buy a block of land in regional NSW that has an approved 14 lot sub-division, and I need to get a feasibility study done, but am not sure of how to start, and can't lay out too much cash for this.
The land is level, flood free and has no easements or encumbrances. It is on a corner fronted by 2 sealed roads with all services in the street, so looks very good to me, but I am not an expert.
I want to find out approx. cost of putting stormmwater, sewer connections, power etc to each block, also need a small amount of road widening to reach curb/guttering which I must also provide.
Would prefer to avoid paying a town planner (or quantity surveyor?) a heap of cash to work out costs, as if it is too hefty we may not proceed with purchase.
Council can give me estimates of S 94 etc, and cost to widen road and do curb and guttering. Would a plumber give me an estimate of drainage/sewerage works - it is a pressure system so have to add cost of a pump to each block (about $3 to $4000?)..... you can see I am struggling.
I have factored in about 40k for subdivision and all other costs per block and numbers are still very good. Development can be staged, but will they let you just chop off one block to start with to get things rolling. I actually planned to put a house on the block first to get some rent coming in and to pass finance, then start doing sub-divisions.
Also, although approved for 14 lots I believe they are too small and unlikely to sell in this regional area. I would like to amend sub-division to 9 lots about 900 sq.m each. Would it be very hard / expensive to get the approval amended like this or would we have to go back to square one?
Anyway, any constructive comments are very welcome. Not interested in negative ones saying .... boy that sounds hard, don't do it.
I just want to get as much feasibility done as I can before outlaying lots of funds. The vendor has already spent about $30,000 getting engineering reports etc done and will let me or some other person sit down and look at them, but will not let me copy them. Who would be a good person to sit down and look at these? I suspect that from these reports they would get a good idea of costings. I read somewhere that an estimate of infrastructure and development costs has to accompany a DA so perhaps some costing estimate is already there?
Anyway, any constructive comments are very welcome. Not interested in negative ones saying .... boy that sounds hard, don't do it.
Many thanks
CAMI
This is my first post. I have been a property investor for some time with a modest portfolio.
Now I need some help in stepping up to a higher level.
I have done a few small corner/battle-axe sub-divisions that were not too hard, as the surveyor did most of the work.
There is a very sweet deal to buy a block of land in regional NSW that has an approved 14 lot sub-division, and I need to get a feasibility study done, but am not sure of how to start, and can't lay out too much cash for this.
The land is level, flood free and has no easements or encumbrances. It is on a corner fronted by 2 sealed roads with all services in the street, so looks very good to me, but I am not an expert.
I want to find out approx. cost of putting stormmwater, sewer connections, power etc to each block, also need a small amount of road widening to reach curb/guttering which I must also provide.
Would prefer to avoid paying a town planner (or quantity surveyor?) a heap of cash to work out costs, as if it is too hefty we may not proceed with purchase.
Council can give me estimates of S 94 etc, and cost to widen road and do curb and guttering. Would a plumber give me an estimate of drainage/sewerage works - it is a pressure system so have to add cost of a pump to each block (about $3 to $4000?)..... you can see I am struggling.
I have factored in about 40k for subdivision and all other costs per block and numbers are still very good. Development can be staged, but will they let you just chop off one block to start with to get things rolling. I actually planned to put a house on the block first to get some rent coming in and to pass finance, then start doing sub-divisions.
Also, although approved for 14 lots I believe they are too small and unlikely to sell in this regional area. I would like to amend sub-division to 9 lots about 900 sq.m each. Would it be very hard / expensive to get the approval amended like this or would we have to go back to square one?
Anyway, any constructive comments are very welcome. Not interested in negative ones saying .... boy that sounds hard, don't do it.
I just want to get as much feasibility done as I can before outlaying lots of funds. The vendor has already spent about $30,000 getting engineering reports etc done and will let me or some other person sit down and look at them, but will not let me copy them. Who would be a good person to sit down and look at these? I suspect that from these reports they would get a good idea of costings. I read somewhere that an estimate of infrastructure and development costs has to accompany a DA so perhaps some costing estimate is already there?
Anyway, any constructive comments are very welcome. Not interested in negative ones saying .... boy that sounds hard, don't do it.
Many thanks
CAMI
