West Torrens 1500m2 Development
I generally ask my tenants to keep an eye out for me... and a house adjacent to an IP has come up for sale!
I've not done development before so I'm jumping headfirst into a new pool of numbers here. I'm hoping anyone with experience in 3-5 dwelling developments might be able to help.
This purchase would give me a combined 1500m2 area in West Torrens Policy Area 40.
What I found interesting is the minimum frontage means that these blocks separately (in fact none of the houses in the street) can be subdivided. So to my thinking that would lower their individual value and further increase the value of a 34m wide double block!
I know West Torrens is quite a conservative council, however can I assume the 9m frontage is for fully split blocks only? The policy states 270m2 per dwelling. Is it possible to get 4 or 5 dwellings on this block with a single-driveway development (units, townhouses or villas)? If so, what sort of costs would I be looking at?
Another issue is that these houses are listed as "Contributory Items". The gist is rather vague but it sounds like any development needs to be aesthetically sympathetic to the area. I'm hoping it won't be an actual obstacle to redevelopment.
Would really appreciate any input from anyone who has done something similar under a similar Policy or even in West Torrens.
Thanks
I generally ask my tenants to keep an eye out for me... and a house adjacent to an IP has come up for sale!
I've not done development before so I'm jumping headfirst into a new pool of numbers here. I'm hoping anyone with experience in 3-5 dwelling developments might be able to help.
This purchase would give me a combined 1500m2 area in West Torrens Policy Area 40.
What I found interesting is the minimum frontage means that these blocks separately (in fact none of the houses in the street) can be subdivided. So to my thinking that would lower their individual value and further increase the value of a 34m wide double block!
I know West Torrens is quite a conservative council, however can I assume the 9m frontage is for fully split blocks only? The policy states 270m2 per dwelling. Is it possible to get 4 or 5 dwellings on this block with a single-driveway development (units, townhouses or villas)? If so, what sort of costs would I be looking at?
Another issue is that these houses are listed as "Contributory Items". The gist is rather vague but it sounds like any development needs to be aesthetically sympathetic to the area. I'm hoping it won't be an actual obstacle to redevelopment.
Would really appreciate any input from anyone who has done something similar under a similar Policy or even in West Torrens.
Thanks
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