How to make money from unused land in Low density residential zone

Discussion in 'Investment Strategy' started by Kidgeeq, 7th Feb, 2019.

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  1. Kidgeeq

    Kidgeeq Active Member

    Joined:
    11th Nov, 2017
    Posts:
    39
    Location:
    Melbourne
    Hey Folks,

    I’ve got a 1acre property in Melton. Currently has a house on it that takes up only 311smq

    The rest of the space is entirely unused.

    It’s zoned Low Density Reisdential. It’s only a few minutes from a commercial zone.

    I would like some ideas as to how I can make more money from it.

    I was considering subdivision, motel, caravan park, holiday homes etc (I’m open to any ideas on how to generate more money from the unused land)

    The block is a corner block and plenty to work with. My only constrain here is the zoning.

    Any sugggestions on ways to make more money from the land?


    Cheers,


    392A9009-0B7A-43A4-8779-5EE125DC7997.jpeg B7DCCD97-F2BF-484C-AC48-2ED1D4A83396.jpeg 244086C7-D020-443A-93BE-78A32D76BDFD.png
     
    Kidgeeq, 7th Feb, 2019
    #1
  2. JohnPropChat

    JohnPropChat Well-Known Member

    Joined:
    10th Sep, 2015
    Posts:
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    Location:
    Middle Earth
    Check with council on what is allowed
    1. Rent out small sections of the land to tiny house people. You could put one yourself and offer as an unique airbnb choice.
    2. A hydroponic farm that grows high value crops and supply to local restaurants and shops
    3. Buy some used shipping containers, put a fence around them and a separate entrance. Some CCTV and card-based gate entry and voila you have a storage solution
    3. This option doesn't answer your question but why not carve out land you don't need, subdivide and sell to reduce debt in a falling market?

    Nice house by the way.
     
    JohnPropChat, 7th Feb, 2019
    #2
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  3. Angel

    Angel Well-Known Member

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    Location:
    Paradise, Brisbane
    Child Care Centre.
     
    Angel, 8th Feb, 2019
    #3
  4. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
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    Location:
    Sydney or NSW or Australia
    • Rooms by the hour
    • Love motel
     
    Scott No Mates, 8th Feb, 2019
    #4
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  5. MRO

    MRO Well-Known Member

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    Location:
    Perth
    From my limited experience any low density area has many properties in the same situation but all face other zoning restrictions which would stop almost all of the suggestions above. I think a good place to start would be your Shire or City zoning and see what restrictions exists and then search opportunities in those fields that arent restricted. As a boring suggestion, is horse agistment a possibility?
     
    MRO, 8th Feb, 2019
    #5
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  6. scientist

    scientist Well-Known Member

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    Location:
    sydney
    lol high value crops sounds like the winner
     
    scientist, 8th Feb, 2019
    #6
    Kidgeeq likes this.
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