Hi PC Members, I am currently looking for a block of units (3-4) on a single tile in SA. I just wanted your opinions/feedback/risk considerations down the track with such a purchase. Could someone please educate me on the process of subdividing to individual titles down the track and the cost/time frames to do the same? Does the process differ based on different councils in SA? I am also concerned by resale prospects down the track (ie if I am unable to subdivide), as I would be limiting myself to investors only. Thanks in advance.
BCA compliance - subdivision will require a DA. The DA will trigger a requirement to upgrade the building to meet the current edition of the Building Code of Australia not the code which was in force at the time the development was approved. This may involve a fire safety upgrade (fire/smoke doors, exit/emergency lighting, interconnected smoke detectors, fire hose reel, hydrant booster, installation of fire separation etc), may also trigger other requirements like sound insulation on pipes or between units (floors/ceilings/walls), upgrading water efficiency, electrical rewiring (new switchboards/safety switches). Unless you see a massive upside in refurbishing and strata subdivision, these types of properties generally sit under single ownership.
From the financing side, 3 to 4 on one title may limit your choice of lenders who will do it as a residential loan.
