what would you do with this block?

there is a block of land i may be interested in.

zoned light industrial however currently has a very decrepit miners cottage on it, with a large shed out the back. both have been half renovated inside (to pretty good standard), and the shed has been converted for to a flat - so dual income.

the 330m2 block is narrow and long - around 10m wide x 32m long. has rear lane access. is two shopfronts back from main highway. next door is sheet metal fabricator and a motor repairers. over the road is another motor repair. the street itself it two way, but not very wide.

vendor is deparate to sell. i am tempted but cannot think want to do with the block as couldn't (and wouldn't) demolish and put new resi there.

immediate reaction was it would be an ideal site for a brothel - but not sure if hubby is ready for his wife to become a madame ...

any thoughts?
 
???? lunch shop/ snack bar ??? add a kitchen and voila commercial property.
If you are feeling REALLY adventourous...build the business up youself then sell then the biz (with a nice long lease on the property :) for a double profit :)
 
Do you want to own a business there or buy and rent the property out?

What was the property used for in the past?

Using it as a brothel would be lucrative, however, having attempted to look into this myself in the past in Melbourne, the industry is very, very complicated and has a monopoly attached to it in some areas.

I say buy, fix, rent. :D

Cheers

Mick
 
Snack bar with a brothel out the back! :D

Seriously, snack bar is a good idea as long as there isn't one within a few hundred meters. Mechanics gotta eat. I used to live near a fairly industrial strip and the one mouldy looking cafe in the middle used to have a queue out the door at lunchtime.
 
there is already a takeaway shop around the corner - street's not wide enough for a truck wash as no swinging room.

i would demolish the house to rebuild something "industrial" - but i wouldn't demolish it to replace with another resi - and i doubt council would let you put resi in there.

the idea would be to build up a business - or purpose build a premises and lease straight out.

i'm surprised neither of the neighbouring business have bought it for extending or parking.

the 10m wide is a bit of a stickler.

heres the link ... http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2008063812
 
what would you do with this block?

the trend (and council zoning) is your friend..

1- bulldoze it and put up a tilt slab catering to local industry: panel beaters, mechanic, spare parts, tyre shop, air con etc.

2- bulldoze it and lease the land to your neighbours -- maybe they can't afford to buy it due to the GFC.

3- a brothel is also a good idea but probably best to sort out the licence first, then renovate, then lease to someone who knows the business.
If you're a soft touch i wouldn't get involved with operating a brothel due to the shady type of people involved (politicians, local council, drug dealers, bikie gangs etc).
 
There are broadly four very different strategies here:

- Business ownership
- Commercial property development
- Commercial property renovation
- Commercial property buy, lease and hold

Which of the above, or combinations of the above, is best suited to your overall financial strategy and your investing personality?
 
there is a block of land i may be interested in.

zoned light industrial however currently has a very decrepit miners cottage on it, with a large shed out the back. both have been half renovated inside (to pretty good standard), and the shed has been converted for to a flat - so dual income.

the 330m2 block is narrow and long - around 10m wide x 32m long. has rear lane access. is two shopfronts back from main highway. next door is sheet metal fabricator and a motor repairers. over the road is another motor repair. the street itself it two way, but not very wide.

vendor is deparate to sell. i am tempted but cannot think want to do with the block as couldn't (and wouldn't) demolish and put new resi there.

immediate reaction was it would be an ideal site for a brothel - but not sure if hubby is ready for his wife to become a madame ...

any thoughts?
Why not just leave it the way it is,the only downside would be the land-content,for the price i think it's value-imho-just depends on the return when i was a plumber i used to work in several "Brothels"fixing up the
baths-spas and assoc plumbing stuff-ups,and got to know several of the Ladies that ran those businessess very well,from what they told me and watching the numbers that come through the front and back door while working on the seperate rooms fixing up the drains,there is a lot of money in that game if you have the heart to do that sort of thing,the only part i liked about the brothels were they always paided in "CASH",AND THE Lady that ran the entire set-up had a new toyboy each six months:rolleyes:..good luck..willair..
 
- Commercial property buy, lease and hold

Which of the above, or combinations of the above, is best suited to your overall financial strategy and your investing personality?

this one - although i think i'll stay on track with other things rather than detour for this property.

just waiting for the bathroom ceiling to dry so i can finish painting ... and then another room ticked off!
 
Looks like the property has some kind of easement at the back. The property next door hasn't concreted on the equivalent land.

Cheers
 
Depending on the location of the property (and so the likely demand) it maybe worth considering using the width to accommodate 2 x 5m shopfronts, and then building residential above. The hybrid nature of that type of development may also act to diminish risk by broadening the tennancy type.
 
Depending on the location of the property (and so the likely demand) it maybe worth considering using the width to accommodate 2 x 5m shopfronts, and then building residential above. The hybrid nature of that type of development may also act to diminish risk by broadening the tennancy type.

Not really a retail area. More a light industrial location.

Although it is a wonderful suburb close to lots of things. People are moving into it more and more.

I reckon you could investigate building some sort of "warehouse" style dwelling that matches the street scape.

I'd love to live by the harbour and city! But I do know that the average Mr and Mrs 2.3 kids would hate it.

We need to have that beer/coffee soon Lizzie - I got some news for you :)
 
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