Rezoned Land Values

[GreenTreeFrog]

Hi!

I have some land that has been rezoned and I am trying to find resources that can help me value what the land is worth. Does anyone know where I can find information like this? I have been Google searching for ages and haven't found anything concrete.

The land has Commercial, High Density and Medium Density rezoning, I would like to try and calculate a value per square metre I can work on for each zone.

Any suggestions greatly appreciated.

Thanks!

 

[Scott No Mates]

Melissa, if you want to get a fair idea, consult a commercial real estate agent for an appraisal.

If you're serious, then consult a valuer (they will charge).

If you want to waste your time, do it yourself as you won't find the tools for free.

Heads up - register with the OSR otherwise you will get a horrendous land tax bill for the land (if you aren't living on it).

 

[GreenTreeFrog]

Thanks! I do live here.

Will a valuer be able to give a true value though, of rezoned, undeveloped land? I am serious and happy to pay as long as the investment is a realistic guide on what I should be expecting.

I have consulted one valuer and they said they could give me a projected value based on what someone might do with the land. But even they said it was just a projection. I understand it comes down to the price someone will pay. I just thought there might be a set of calculations they use to determine value.

Appreciate your advice. Thanks!