Hello, I'm currently immersing myself into property development and little by little I'm trying to get down all the steps that are required and all of the different people required along the way. There is one aspect which I'm slightly unclear about and was hoping someone from Adelaide may be able to clear up for me. I understand that before any development can occur, development approval must be granted which is made up of development plan consent and building rules consent (If building). I understand that both can be applied for at the same time although I would do it staged. My question is as follows. If you had a parcel of land with an existing dwelling on it and you wanted to knock it down, subdivide into say two (create one new allotment) and then build a townhouse one each block how would the process look in regards to applications - as there is subdivision - I understand this then brings the development assessment Commission into play. Would the DAC look at the application alongside the council and give feedback and hopefully development plan consent for the subdivision (assuming it meets criteria)? If I'm correct, after this, I could then focus on preparing for getting building rules consent - fully worked drawings and engineer plans etc. Any clarity on the process that you can give me would be appreciated. Thanks
Its really basic here unlike other states. There's a thread on here somewhere where I diarised the whole process of my one. Surveyor handles all of it. They do up preliminary plan (of land not dwelling) then does submissions to state govt, local council and SA Water. Once those places approved they did up a proper plan (again land not dwelling) for the conveyancer to do up titles. The best way to structure it from a finance point of view is the same way @Corey Batt did my one. Split the blocks first. Get the new blocks revalued and use that equity as deposit towards construction cost. Go to a builder with your new blocks and get 2 houses designed / built, then come to your favourite pm to put tenants in them and reap the advantages of depreciation for years to come.
Was the subdivision for two discreet townhouses with no adjoining wall? But hard to do a survey of dwellings not yet constructed if they butt up against each other.
We have a free developing video series on our website which may be helpful Property Development Video Series - Alexa Real Estate - information only. I'm also hosting a property seminar in September in Adelaide which includes a panel of speakers talking about development. I can contact you with info if you are interested in speaking directly with people and getting ideas.
Your 1st step if the property is mortgaged (i assume it is and this is not a hypothetical scenario) is to see what your banks policy is regarding doing this.Some dont like seeing their security dissapear in a pile of dust.
Ha, yeh I can imagine that would be pretty important. As it happens though, it really is a hypothetical! Thanks for your input