What is a Battleaxe Block?
- Thread starter Flutterby
- Start date
... and you can sometimes have a few homes inside the battle axe.
Cherry
Wasn't it George Washington who chopped down a cherry tree with a balle axe?
Harris
It may not be resulting from the subdivision of an existing block. They are quite common in Canberra, quite often being used to keep streets further apaprt, and to fill in odd shaped subdivisions. We live on a battleaxe- which is an especially large block backing onto bushland- which we later found is intended to serve as a bushfire retarder.
One of my properties is a battle axe in Canberra. It was a dual occ, I recently split it into unit title (like strata title elsewhere).
As a result of that split, the bank still holds the mortgage over the two properties, but I hold the title to the common property- the driveway.
I haven't yet had the driveway valued, so I can't give you the answer to your question.
I know a lot of real estate agents, and the general concensus seems to be that the back block is always harder to sell, and many agents liken it to buying on a main road in that the sale price is usually less than if it had its own street frontage. That is around my area anyway, Coorparoo.
Having said that, there are quite a number of battleaxe blocks around Coorparoo and I know a few families who live at the back and they love it because they get less road noise and the avon lady and mormons tend to leave them alone.
Wylie
Having said that, there are quite a number of battleaxe blocks around Coorparoo and I know a few families who live at the back and they love it because they get less road noise and the avon lady and mormons tend to leave them alone.
Wylie
We had a battle axe block on a Marina; the long driveway (common lot) opened out onto a huge waterfront lot. It is kind of a lifestyle area, and we liked the idea of being inacessible to others if we decided to put a (mutually agreed) gate across the driveway. Kind of like a private haven overlooking the water. We decided to sell it about four years after purchase as it was only an Investment; it sold really quickly, within 3 weeks, for well over double what we bought it for.
Battleaxe blocks are usually worth less than the main block in front of them. Regardless of whether each individual purchaser likes the block or not.
Reasons include;
1. Loss of prestige in not having a street frontage.
2. Loss of potential in future development due to possible issues with stormwater, sewage, etc...
3. Certain privacy considerations, surrounded on all 4 sides by other properties
Reasons include;
1. Loss of prestige in not having a street frontage.
2. Loss of potential in future development due to possible issues with stormwater, sewage, etc...
3. Certain privacy considerations, surrounded on all 4 sides by other properties
I would agree with that except in our case, in which our frontage was the Marina; the street blocks are about half the price.
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