Hi there
Wasn’t sure where to post this, has a few elements that would fit under different forums. But anyhow…would genuinely appreciate any help or suggestions. Bit of an essay, but here goes.
To give some brief background, my folks have a house on 24 acres in north nowra nsw. Its currently rented for 250 a week. Its double brick 4 beds, 2 lounge rooms, big veranda, big garages etc. Most of the land is bush.
They are keen to sell it but have/had been waiting for the Shoalhaven LEP. There was a draft out in 2011, and now a 2nd draft was recently tabled. (http://www.slep2013.shoalhaven.nsw.gov.au/content/online-mapping-system).
The issue is the proposed Nowra bypass is set go through the land as per this screeny from the LEP. Block highlighted in teal border.
Its been talked about/land was marked as a highway for decades..as above finally made it onto an LEP in 2011…but cant see it being built for many more decades either.. We were always hopefully part of it would be subdividable, it was really my parents super/retirement fund. The release of the LEP zonings in 2011 was very disappointing.
As you can see, its rather unfortunate, the highway is set to take most of the block..leaving a small triangle, a land locked parcel..and a small bit on the right of the highway that you can barely see.
The LEP zoning is based on the ‘Threatened Biodiversity Survey And Assessment – Nowra Bomaderry Structure Plan Area’. Below is the relevant page taken from that.
The land is mainly marked as ‘moderate’ in terms of environmental importance, except for maybe a small part at the top which is ‘low’.
Should have done the wrong thing and cleared the block when we had the chance, like the guys on the higher side, who were rewarded for clearing there land and had it marked as general residential, and will be laughing…(except for that block with trees in the middle). Other blocks at top of pic north are ‘moderate’ but are now zoned r1 too
As feedback in 2011, we asked them to acquire the land immediately, or change the zoning to R1, and to explain what will happen to the land locked land. They ignored the latter and said no to the first 2 (as you would expect). Neighbours asked for other things, zoning to r5 etc, to no avail.
So, its had the effect of freezing the asset, sure could sell it, but given most of it will be highway one day, no one would want to build a new house on it (I don’t think?). Can’t sell it for what its worth (ie what it would have sold for if there was no proposed highway). We have no idea what its worth, its hard to value (no agents have looked it in a while).
Not really sure what my questions are…we are at a loss what to do. My parents did speak to a ‘specialist’ lawyer a few years ago, but he essentially just said wait for the LEP and ask that they immediately redeem the land. Of course they will not do this (maybe if you can prove hardship if I recall correctly).
No doubt 250 a week rent is low yielding. Folks want it sold as its been a dead asset for years…
Is there anything we can do? Legally?
Force a reply re. the land locked land
Anything to boost the sale price?
Who to talk to?
Even just being able to subdivide off that triangle bit or something to add some value – it will have to be separate title one day anyhow.
Its damn frustrating…even one block over we would be ok, wouldn’t be subdividable or anything but at least you could build a nice new house, and not have to plan for some highway that is unlikely to happen for a long long time.
It’s a great block / place to have a family, with dams, lots of fruit trees and the like. And no doubt one day would be worth a bit (assuming they acquire it at fair value, or if the highway was canned). Folks are retiring so the low yield is not a good use of the equity. Would hate to sell it only to find out something could be done.
Cheers
Simon
Wasn’t sure where to post this, has a few elements that would fit under different forums. But anyhow…would genuinely appreciate any help or suggestions. Bit of an essay, but here goes.
To give some brief background, my folks have a house on 24 acres in north nowra nsw. Its currently rented for 250 a week. Its double brick 4 beds, 2 lounge rooms, big veranda, big garages etc. Most of the land is bush.
They are keen to sell it but have/had been waiting for the Shoalhaven LEP. There was a draft out in 2011, and now a 2nd draft was recently tabled. (http://www.slep2013.shoalhaven.nsw.gov.au/content/online-mapping-system).
The issue is the proposed Nowra bypass is set go through the land as per this screeny from the LEP. Block highlighted in teal border.
Its been talked about/land was marked as a highway for decades..as above finally made it onto an LEP in 2011…but cant see it being built for many more decades either.. We were always hopefully part of it would be subdividable, it was really my parents super/retirement fund. The release of the LEP zonings in 2011 was very disappointing.
As you can see, its rather unfortunate, the highway is set to take most of the block..leaving a small triangle, a land locked parcel..and a small bit on the right of the highway that you can barely see.
The LEP zoning is based on the ‘Threatened Biodiversity Survey And Assessment – Nowra Bomaderry Structure Plan Area’. Below is the relevant page taken from that.
The land is mainly marked as ‘moderate’ in terms of environmental importance, except for maybe a small part at the top which is ‘low’.
Should have done the wrong thing and cleared the block when we had the chance, like the guys on the higher side, who were rewarded for clearing there land and had it marked as general residential, and will be laughing…(except for that block with trees in the middle). Other blocks at top of pic north are ‘moderate’ but are now zoned r1 too
As feedback in 2011, we asked them to acquire the land immediately, or change the zoning to R1, and to explain what will happen to the land locked land. They ignored the latter and said no to the first 2 (as you would expect). Neighbours asked for other things, zoning to r5 etc, to no avail.
So, its had the effect of freezing the asset, sure could sell it, but given most of it will be highway one day, no one would want to build a new house on it (I don’t think?). Can’t sell it for what its worth (ie what it would have sold for if there was no proposed highway). We have no idea what its worth, its hard to value (no agents have looked it in a while).
Not really sure what my questions are…we are at a loss what to do. My parents did speak to a ‘specialist’ lawyer a few years ago, but he essentially just said wait for the LEP and ask that they immediately redeem the land. Of course they will not do this (maybe if you can prove hardship if I recall correctly).
No doubt 250 a week rent is low yielding. Folks want it sold as its been a dead asset for years…
Is there anything we can do? Legally?
Force a reply re. the land locked land
Anything to boost the sale price?
Who to talk to?
Even just being able to subdivide off that triangle bit or something to add some value – it will have to be separate title one day anyhow.
Its damn frustrating…even one block over we would be ok, wouldn’t be subdividable or anything but at least you could build a nice new house, and not have to plan for some highway that is unlikely to happen for a long long time.
It’s a great block / place to have a family, with dams, lots of fruit trees and the like. And no doubt one day would be worth a bit (assuming they acquire it at fair value, or if the highway was canned). Folks are retiring so the low yield is not a good use of the equity. Would hate to sell it only to find out something could be done.
Cheers
Simon
