Earning money while holding a land parcel

Discussion in 'Development' started by Anki, 15th Jul, 2017.

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  1. Anki

    Anki Active Member

    Joined:
    29th Apr, 2016
    Posts:
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    Location:
    Melbourne
    Hi All,

    I am planning to buy a 2-hectare land parcel in Rockbank, Melbourne. Precinct structure plan for this suburb was approved last year, and land falls under residential zoning. It's a bustling area with lots of development activities(Woodlea, Thornhill park etc.), and my plan is to hold this property for next 3-5 years.

    Since I would be paying a hefty interest to bank while I am holding this property so looking forward to getting suggestions from knowledgeable forum members to see if there are any good ways to earn money from this land. This would help in reducing the interest load.

    I contacted a local outdoor advertisement company and they are reviewing if this site can be used for that purpose. Another option is to use this space for heavy vehicle parking however not sure if someone would be willing to rent this.

    Thanks,
    Anki
     
  2. Hamish Blair

    Hamish Blair Well-Known Member

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    29th Sep, 2015
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    Location:
    Melbourne
    Agistment for horses?
     
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  3. Tufan Chakir

    Tufan Chakir Well-Known Member

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    18th Aug, 2016
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    Location:
    Victoria, Australia
    You may need (most likely) a planning permit for a change of use in the residential zone..
     
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  4. kidgeeq2

    kidgeeq2 New Member

    Joined:
    18th Sep, 2015
    Posts:
    4
    Location:
    Melbourne
    Hey Anki,

    Keep me posted on how you went..

    I'm also interested in doing the same thing in the same area

    cheers,
    Noah
     
  5. Piston_Broke

    Piston_Broke Well-Known Member

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    Margaritaville
    In my situation it never really worked.
    Every time i tried to earn there was a drama. Including council. Actually mainly council.
    Specially if it's near residential.
    Council can also have rules re advertising signs, vehicle parking etc etc.

    As for planning, rezoning etc double whatever estimate you have.
    So plan on keeping it 6-10yrs.
     
  6. Blueskies

    Blueskies Well-Known Member

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