shop top development

Afternoon all. Long time since ive been on here. Since the last time iv finished my subdivision/build. Extended the family and moved a new rural property. very happy to see my development over and done as everything that could go wrong did and to top it all of council cut their contribution amounts by 80% straight after plus a rezoning at that time also made the $20,000 extension they forced me to do nul and void. All up $40,000+ wasted due to council. anyway to the point every cloud has a silver lining.
The rezoning above has worked in favour of another one of my properties.


I have a 2 bedder on a 580sqm block in a central location in Nowra on a major in/out road to the CBD. The rezoning just through this year allows a few things like higher density housing( unit or two in the back) or more interstingly shop top development. This has always interested me as the thought of a bread and butter income from residential topped with some comercial/retail downstairs sound like a good mix.

has anyone developed an existing house in this way ?
Major cost would be to add a second story flat on top but changing the lower story to commercial/retail would be almost zero cost.

basically with very rough figures a $150,000 investment may yield an additional income in the vicinity of $500 per week if done right.

Any thoughts on this approach ?

cheers

Steve
 
Depending upon the layout there will be considerable works to achieve the best result. Consider the shopfront width, is it possible to get a 1.2m section cut from the shop to install stairs? Street access is better than Laneway/rear entry esp if there can be a commercial use (office).

Look to erecting a portal frame/columns through the shop walls and support steelwork for the upper level, if you get away with Bondek or firerated ceiling over the shop you will have less disturbance once you close off the top of the shop and could seek to start leasing at an earlier stage.
 
Thanks for the feedback.

The existing 2 bedder is soild and fresh . The addition of one wall will create
3 offices with potential for a 4th.
reception with storage.
waiting area
large kitchen can have 1/2 converted to storage.
large Toilet/bath will easily accomodate another toilet etc.

its all on piers so earthworks will be easier if needed.

I would plan on the upstairs becoming a 2/3 bedroom flat with access from the side driveway or rear.

Small block but house is only two meters of front boundary. Plenty of room for up to 6 vehicles and a turn bay in the back.

Only 200 odd meters to the centre of the CBD and house has great street presence.( great for business signs)

Your building suggestion sound good. This was my biggest concern. lost rent during construction and keeping the construction costs as viable as possible.
 
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