Subdivision of 610 sq. corner block

[MrJK]

Hello everyone,

I am looking to buy a corner block of 610 sq m ($300k) in a western suburb in Melb. I am looking to put $80k deposit and keeping mortgage around $220k mark.

I am a first home buyer and here is the scenario:

Considering its a corner block and no easement issues, I hope there won't be much hassles.

My concern:

What are the chances for 3X200 sq subdivisions (3BR townhouses, each with their own frontage)? I have no experience with subdivision but will be taking help from friends and forum etc.


The block has 3BR+2+2 livable house. I plan to sit and hold for 3 years and then put an application for subdivision. I will then wait for another year and then demolish the existing dwelling and build 2 or 3 townhouses depending on the permit.

Do you think its a fair plan? I dont mind living in a old house for the sake of securing investment property in future.

 

[RightValue]

What council?

Brimbank appears to be letting one dwelling per 200sqm through, especially if they all have separate access.

Seems very cheap, unless it is Melton which I do not consider to be a western suburb of Melbourne.

cheers

RightValue

 

[MrJK]

Thanks for replying

Its Wyndham Council.

 

[HppyLilVegemite]

Hi MrJK

As you would know, it would depend on the planning controls for the site.
What is the zoning, are there any overlays, is there significant vegetation on the land?

Also is there good precedent in the area for the type of development you are trying to do. Wyndham CC is a growth area council and so depending on where your site is located, there may be structure plans or development plans that will also affect Council's decision of the kind of density they will allow on your land.

I'm a recently graduated town planner working in the industry atm. Happy to try my best to help with any questions you may have =)
I'm also interested in pursuing a similar strategy to the one you described so kind of in the same boat..

 

[Annietom]

hi, I think 3 x 200sqm is too tight. Speak with wyndham council over phone if you have title details. They will advise you straight away if that idea is feasible on that particular block.

good luck!