hi property expert, I have a question for all you developers expert, we have a 1050 sqm block with an old house on it, we own 600000$ and is zone r30 in Hamilton Hill (WA) we don’t really have the finances to subdivide and build ( we been told you can build up to 5 units/houses), what would be the best way and is it’s possible to approach a builder and make some kind of deal. Or if you do have different ideas we are happy to listen. Thank you very much Christian
Approaching a builder and doing a JV is worth considering. They will do a due diligence and see what the potential profit is. I have a good contact if you want to discuss further?
5 houses doesn't sound right. In R30, the minimum lot size is Min 260, Av 300. 4 would give you a minimum lot size below 250m2 which does not comply anyway. 3 houses is more realistic. The only way to squeeze in 5 would be single bedroom dwellings or Aged or Dependent Person's dwellings. If you were going down this path you would have to make sure there is demand in the area for that product.
Thanks for your reply Perthguy , that’s what I thought, even if you do build 3 on it, what kind of deal would you try to make with a builder to without any money but just putting the land in the deal? Thanks
No idea mate. Sorry. I have never done a JV with a builder, just a mate and we split everything 50/50