Future Sale or Development

Hi guys,
I have some commercial shops with some houses attached that I am looking at options to sell or develop in the future. The area is in Logan Council QLD approx 7000 - 8000sqm. Commercial area is approx 4000sqm.

My accountant told me to start by getting a Highest and Best use report done for the land.

I am considering developing the land myself or a possible joint venture with a developer. What should my next steps be once I get the Highest and Best use report completed?

Cheers for the advice.

 

Hi Medusa,

Starting point would be to understand the zoning and any constraints over the site. This would be factored into a Highest and Best use report, from there you would want to try and establish an estimate of value for the site to determine the future sale or development option for yourself.

Thanks
Matt