Join Australia's most dynamic and respected property investment community

how many townhouses will fit in

Discussion in 'Renovation & Home Improvement' started by samiam, 9th Oct, 2016.

  1. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    525
    Location:
    on my way
    Last edited: 9th Oct, 2016
  2. mikey7

    mikey7 Well-Known Member

    Joined:
    30th Mar, 2016
    Posts:
    197
    Location:
    Sydney
    At current 0.6 FSR, you'd get 2.6 units at those sizes.
     
    samiam likes this.
  3. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,217
    Location:
    At work
    Much of a market for 0.6 of a townhouse?
     
    samiam likes this.
  4. mikey7

    mikey7 Well-Known Member

    Joined:
    30th Mar, 2016
    Posts:
    197
    Location:
    Sydney
    Lol definately not.. but OP could reduce the size of each townhouse to up that number :)
     
    samiam likes this.
  5. wombat777

    wombat777 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,434
    Location:
    33°41'24.7"S 150°55'34.3"E
    Have you considered and run cashflow and valuation / growth scenarios for doing smaller townhouses? I believe a few here have had success doing 2-bedroom and even 1-bedroom townhouses but talk to real estate agents first for an opinion.
     
    samiam likes this.
  6. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,558
    Location:
    Sydney or NSW or Australia
    Midgets & carni-folk. Market is very seasonal. (I could be clowning around though).
     
    inertia and samiam like this.
  7. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    525
    Location:
    on my way
    How about 17.5 * 55.5 m block? :D And let say 120-150m2.
    Not much market for smaller units (2/1/1 or 1/1/1) where I am looking at. Better with 3/2/1 or 3/2/2. We plan to live in one (hence big one like 200m2). End products (basic specs) in the area are selling around 500-550 for 3/2/2 or 3/2/1 (120-150m2). A few more coming at 595:eek:.
    I am planning to hold my block (offer just accepted) for now but to develop later when the surrounding lands has dried out from building townhouses. They might change the zoning in 10 years too :rolleyes:
    The other option is to leave the main house at front and build a duplex at the back and all rent out :)
     
    Last edited: 10th Oct, 2016
    Raydar likes this.
  8. inertia

    inertia Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    287
    Location:
    Newcastle, NSW
    That is a great block! I'm interested in this thread as we are in the process of buying a pair of blocks that will have similar size, no rear lane access though.

    Cheers,
    Inertia.
     
  9. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    525
    Location:
    on my way
    We didn't get this one but put it as an example. We are in the process of buying a similar size land with no rear lane access. We could learn from each other!! Is this going to be your first development or have you done a few?
     
  10. Raydar

    Raydar Well-Known Member

    Joined:
    6th Jul, 2015
    Posts:
    306
    Location:
    Newcastle NSW
    So you have you both got your head around NCC's LEP & DCP... I've tried but it isn't light reading.
     
    samiam likes this.
  11. wombat777

    wombat777 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,434
    Location:
    33°41'24.7"S 150°55'34.3"E
    Definitely put in the effort. A good working knowledge of the planning codes can be worth quite a penny. Also consider at some point getting a town planner to do an assessment on a site you are interested. The knowledge gained will give you good insights for future purchases. Worth the $ and actually a small cost for a preliminary site assessment.
     
    samiam likes this.
  12. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    525
    Location:
    on my way
    Yes start reading all those docs- a bit of pain!
    I have talked to town planners for similar blocks in general but didn't do full assessment for the particular block that I am buying partly because didn't want to show agent that I am keen. It's a subdivision block so had a few interests there.
     
    Last edited: 11th Oct, 2016
  13. inertia

    inertia Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    287
    Location:
    Newcastle, NSW
    We have no experience with development, and really the future develpment potential was just a nice additional thing when we were looking - something to investigate and pursue over the next few years.

    Cheers,
    Inertia
     
  14. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    525
    Location:
    on my way
    same here too. no experice of developing but will pursue over next few years:).
    btw, I might know your "pair of blocks" if you recently bought at auction ;)
     
  15. inertia

    inertia Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    287
    Location:
    Newcastle, NSW
    nope, not at auction :)

    give me a couple of weeks to settle and I'll put the details out.

    Cheers,
    Inertia.
     
    samiam likes this.