Zoning Question

[Cheeks]

Hi

Just wondering if anyone can give me a run down of the pro's and con's of having a property re-zoned from "Residential" to "Office & Residential".

I'm a little clues less when it comes to zoning issues so any input would be great.

Thanks in advance.

 

[Cheeks]

Hi

Just to add more info - I understand that commercial rental yields are higher than residential but what impact would the rezoning have on value of the property (increase, decrease or no impact).

I assume it would add value to the property due to the increased potential usage and return. What do people think

 

[The Y-man]

Hi

Just to add more info - I understand that commercial rental yields are higher than residential but what impact would the rezoning have on value of the property (increase, decrease or no impact).

I assume it would add value to the property due to the increased potential usage and return. What do people think

Banks won't allow as high an LVR on mixed business and commercial zonings.... tends to be around the 60%-70% from my understanding...

It will increase or decrease depending on the surrounding use of the land - eg if it is the last bit of residential surrounded by commercial or last bit of industrial surrounded by residential.

Cheers,

The Y-man