Deception Bay Gentrification / Development Thread

Interesting updates..

Check this place out that sold recently! $950k

75 Esplanade, Deception Bay, Qld 4508 https://www.realestate.com.au/sold/property-house-qld-deception+bay-134220098

 

This is interesting as it is outside the rezoned area on a 662 sqm block.

Google Maps



The existing shed/outbuilding above will be replaced with a dwelling:

 

@wombat777, do you have a very rough idea of the costs to subdivide a block on approx 715m2 in Urban neighbourhood zone in DB (corner lot) and build (x) many small houses? I'm trying to obtain a high level idea as to the cost of doing this and potential rental return, vs obtaining planning permits to do so and selling, vs doing nothing and leaving as is. Well and truly at the beginning phases only and getting an idea of what the options are... I recall you having a similar lot in DB and Petrie if that's right. I saw a recent sale below which I thought was a very high result considering the size of the block... (https://www.realestate.com.au/sold/property-house-qld-deception+bay-135147482)

 

I can't subdivide. My block is zoned for units or townhouses.

Perhaps pay someone for planning advice. They can give you insights to the town planning part of the cost equation. Both the costs and what you can potentially do on the block. What you want is a "site options" assessment.

I used Brisbane Town Planners- Site Options Brisbane .

Also spend some time diving into the planning codes for your own education - but it is not for the faint-hearted. Hence why obtaining planning advice.

Then approach a building designer once you have thought through what you are interested in looking at. They can then give you a quote for each part of the process - concept plans, DA plans, building plans. I used someone interstate to do concept plans for my petrie property (same zoning). PM me if you want their details.

Certainly do #1 first and then consider if you want to do #2.

 

Thanks for the insight, much appreciated

 

You basically want them to confirm for you.

Minimum setbacks at each boundary.
Building heights ( both maximum and potentially a minimum ).
Minimum number of dwellings.
Maximum number of dwellings.
Amount of private open space required for each dwelling.
Guidance on number of parking spaces required.

If it is urban neighbourhood then you can achieve quite creative use of the property - townhouses, low-rise units, medium-rise units.

 

This is very helpful, thank you

 

I spoke to a Town planner who confirmed my block was able to be subdivided, they put me on to a design company and they outlined the fees and charges. This price excludes the infrastructure levy which is between 21 and 29k and it also excludes energex connection, includes house and building plans. My block is in Moreton Bay region but not in Deception Bay.

 

This place looks like it has some structural issues or the owners were part way into a reno. But still a bargain?! $250k?

(sadly I’m not buying anything ATM).

24 Simon St, Deception Bay, Qld 4508
https://www.realestate.com.au/property-house-qld-deception+bay-135312170

 

The zoning is suburban neighbourhood so doesn't have the development potential of other properties not too far away. I think this can create a big variation in price but $250k is cheap for the area.

 

The damage is caused from termites and it is owned by public housing commision. I estimate a 330k sale in good, clean condition.

 

Another DA lodged.

More evidence that the rezoned part of Deception Bay near the waterfront is gentrifying. I think give it 5 years and there will be numerous completed, in planning or under construction developments in this area.

Location is just across from the waterfront:

https://www.realestate.com.au/property/3-wallin-ave-deception-bay-qld-4508





From DA/2021/3008

 

Recently, I was able to secure a double block in the zoned area. A couple hundred metres from the beach. So quite excited to do an eventual development project of townhouses/units one day.

 

Would a 400 sqm block size benefit in CG just from other prices rising being in this rezoned area, even if can't do any development on the block itself apart from maybe turn a 3/1/1 into a 4/2/1 with extension

 

With patience you should expect growth.

The rezoned area has seen an increased number of houses renovated and there have been some rebuilds. Some of this has been done by owner-occupiers and some of this has been done by investors.

This helps creates a gradual lift in the quality of the housing stock aside from any that may be knocked down and developed into townhouses / units.

Combine this with the near-waterfront location and the gradual gentrification helps support price growth. Deception Bay is one of the last suburbs for lowish cost property near waterfront.

Developers may buy neighbouring sites that are well-located. e.g. 2 x 400 sqm sites creates an 800 sqm site better suited for development.

Generally there may be periods where prices will flatline for several years but with patience I think there should continue to be steady-moderate growth averaged out over the long term given near-waterfront location of the rezoned area.