What is a battleaxe block worth?

[tmaggs]

Hi,

We are looking at a battleaxe block currently on sale in the northern suburb of Sydney. This area was sub-divided into 3 blocks.

The front 2 blocks have been sold, but the battleaxe block is yet to be sold.

I am aware that the value in the battleaxe block is much less than the front blocks so can someone tell me what percentage in value should the battleaxe land be worth relative to the front blocks generally?

Thank you.

Trevor

 

[Propertunity]

Does not work like that on a % less basis.

You'll need comparable sales of other battle-axe blocks to go by.

 

[wylie]

I agree with Prop. However, I have always used as a "rule of thumb" that battleaxe blocks generally are like a house on a main road.

If the house was not on the main road, but a street back from the main road, how much more would you pay.

I view battleaxe blocks in a similar light.

It may be hard to find comparable battleaxe blocks, so using this main road comparison may help you to firm up an idea of how much more you would pay for a "proper" street frontage (ie. how much "less" are you prepared to pay for lack of a street frontage).

 

[tmaggs]

Thanks Wylie. It makes sense to compare with the property value on the main road nearby.