What Price? - Parcel Of Land

[katttkittt]

Just wanting some guidance on what sort of price to expect from this parcel of land………

Background:
A large development company has purchased all the surrounding land for a future townsite - bar this block which is situated in the middle of the proposal- currently they are in the process of gaining the changes to the zoning, the block in question will be primarily residential but a small portion will be for commercial use

A few particulars: The development company have released info on the development - avg lot size will be around 450sqm, they anticipate an avg selling price around 240K per lot, the land is within 45 minutes of the cbd, developed lots due to come on stream within 5 years. The block in question is circa 30ha.

Realistically what price would they be willing to pay?

 

[redsquash]

183,634 dollars , from what you have written

 

[Aimjoy]

Just wanting some guidance on what sort of price to expect from this parcel of land………
the block in question will be primarily residential but a small portion will be for commercial use

Resi zoned inglobo land right? in the middle of a proposed development. This would be worth more and more as the development occurs around it (if it occurs around it. Then again that is true of virtually all RE.
Do you want a price pre-rezoning? post-rezoning?
How much of the 30Ha will be commercial?
Is the land flat or hilly?
Which cbd? If its SYD then it will a lot different to say Hobart.
And then you want to guess the market 5 years out from now.
Too many equations with too many unknowns katttkittt, which is why you got the last answer you did.

Aimy

 

[katttkittt]

Resi zoned inglobo land right? in the middle of a proposed development. This would be worth more and more as the development occurs around it (if it occurs around it. Then again that is true of virtually all RE.
Do you want a price pre-rezoning? post-rezoning?
How much of the 30Ha will be commercial?
Is the land flat or hilly?
Which cbd? If its SYD then it will a lot different to say Hobart.
And then you want to guess the market 5 years out from now.
Too many equations with too many unknowns katttkittt, which is why you got the last answer you did.

Aimy

thanks Aimy, apologies if it was quite vague….this is not my forte, but trying to learn…

To hopefully fill in a few more blanks: Perth CBD, commercial will be between 5-10% of the land, the land is flat & 85% cleared. Currently zoned rural will be rezoned urban

Looking for a price post rezoning - which should occur in about 18months………thanks in advance

Kat

 

[anthonykirby]

You would be best to get a valuation done on it - and ask them the question of re-zoning and the effect on pricing longer term.

Its a little bit 'crystal ball' stuff - but if there are other developers picking up on it then surely it must be looking like a good indicator on the future potential.