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What does the planning instrument for the relevant council say. It will normally specify what uses are permissible and what are prohibited. If it is an existing house in light industrial, then provided the house was built legally you would have an existing user right ie the property can still be used for residential while that building is there. Extensions etc might or might not be allowable
so for a resi IP, does the fact that having more then the standard residential options make it more desirable? im considering this as a resi IP, but will be willing to pay say 5% extra if its seen as more desirable
I assume that if I do decide to tear the house down and rebuild, that this wont be possible? let alone units down the track, its a big block at 1500sqm,
I assume that if I do decide to tear the house down and rebuild, that this wont be possible? let alone units down the track, its a big block at 1500sqm,
Why would you want to tear it down, only to replace it with another house, or heaven forbid units.....talk about importing headaches ??
If it is zoned industrial, why not whack a large 750sqm shed on the block and rent it out for a motza with no headaches.
Seek assistance from wiser sources in your local area who know what they are actually doing.
People looking at spending large chunks of money with as little knowledge in the area such as yourself is beyond dangerous. No wonder people lump all that together and call this area of investing "risky".
so for a resi IP, does the fact that having more then the standard residential options make it more desirable? im considering this as a resi IP, but will be willing to pay say 5% extra if its seen as more desirable
I assume that if I do decide to tear the house down and rebuild, that this wont be possible? let alone units down the track, its a big block at 1500sqm,
Why would you want to build resi units on a LID zoned block? I am with Dazz, if you are going to rebuild, take advantage of zoning and do someting with a higher gross and lower build cost eg some single row concrete tilt up industrial units or a warehouse duplex or a shed with hardstand yard etc etc. Depends what is in demand in your area... but build something good, lease it to a quality tenant and watch the cash roll in while the tenant pays all your outgoings