ie, backing right onto it? i.e., this: http://www.realestate.com.au/property-house-qld-coorparoo-116098079
on 2 lots
on 2 lots
Would anyone buy on a railway line?
- Thread starter Tulamalula
- Start date
That's an interesting one
What's the zoning?
Could be a very profitable development one day. Nice block for it to
Apartment blocks in inner city blocking out the railway line are becoming a pretty common thing
The only turn off for me would be holding costs...
What's the zoning?
Could be a very profitable development one day. Nice block for it to
Apartment blocks in inner city blocking out the railway line are becoming a pretty common thing
The only turn off for me would be holding costs...
I purchased 2 houses side by side backing the rail, similar to this property and on sold plans and permits to a builder. These were for 8 apartments in Melb and perhaps rail was an advantage, it sold before it hit the net and was very profitable. Whether it would work in Coorparoo I have no idea??
I would pm fellow forumite Wylie, I believe she lives and knows this area very well, it would be worth getting some input from her.
Thanks all, checking the zoning and potential development today with Council.
Holding costs would be high, and there's some work to do on the house to rent it out, don't like spending money on something that will eventually be knocked down.
I think it's really only a goer if you're going to develop straight away, which I wouldn't be doing.
Holding costs would be high, and there's some work to do on the house to rent it out, don't like spending money on something that will eventually be knocked down.
I think it's really only a goer if you're going to develop straight away, which I wouldn't be doing.
Coorparoo might be inner city, but it is a bit different to Newtown - more of a suburban feel than vibrant inner city like Newtown. I don't think the tolerance to railway noise would be as high.
Norwood man, you are dead right. Even though it's close to the city, it's no Newtown for sure. Sydney also very different to Brisbane, you can't compare, people like different things and will put up with different things. Coorparoo, even inner-city is a bit suburban feel, West End, South Brisbane you'd expect to have noise, but higher prices and a totally different vibe and different market.
I was already working on this one before you posted which is why i couldn't talk. Was going to sell at open tomorrow with interest level but cash unconditional contract signed today. already on 2 titles. Demo booked for day after settlement and block cleared by 24 March. 1x 405m2 lot and 1x 390m2 vacant blocks already relisted with agent. Going to Auction on 29 March because of the scarcity of land and hard to price with railway. Vendor taking offers before. Nice quick turn around and should be some nice quick cash.
Lots of snakes in that area too.
Snakes? For real?
RPI - I think if you're going to buy a devvie site, where the house can't be rented out, if you can't go in hard and minimise your holding costs, you shouldn't do it.
RPI - I think if you're going to buy a devvie site, where the house can't be rented out, if you can't go in hard and minimise your holding costs, you shouldn't do it.
Tulamalula.
The house is on 2 titles already. There is no DA required, there is no surveying, contribution fees, connections etc. Approval to demolish will be granted on Monday, demo is booked to start the day after settlement. Blocks will be completely clear within a week of settlement.
The 2 blocks of land are effectively back on the market already (although probably not on the net till next week) and because the supply is so low, client is going to Auction. If he wanted to he could fire sale them today and make a small profit, have them under contract and settle the minute demolition finishes.
Totally agree. Have followed a few properties on train lines and even top end suburbs have noticeable sale price difference and lower rent.
Hard call on price on any land at present. If it has a 3 in front of it then it will be worthwhile because of quick turn around. If it goes 350 then outstanding profit. Would be 550 if it was 2 streets over. Builders are paying 550 plus in coorparoo and Norman Park for vacant 405m2 land with no views. Couple of blocks have gone on Macrossan ave (busy road) north of 450. Supply is so short at moment it is hard to tell. could put a couple of free houses from our other dev sites on them at present and make more money but really just after churn at moment.
If all that is happening why does the real estate ad say you could renovate it and rent out the house?
That was for previous owners. You could rent it out or renovate I guess. Never even drove past before let alone went inside, actually only looked on photos on net after contract signed. Looked as a backup to see whether you could knock off a side to slide over.
Anyone us welcome to have the house for free but needs to be gone and block cleared 37 days from today.
I am really confused, why does the house ned to be gone within 37 days?
