Investing in Community Title Scheme & Land Value

I've just found the perfect investment standalone house (about 35 years old but very well maintained) in the really good suburb and would also give me great rental yield in this current market. Seems like a property too good to be true...

The catch is that it is under a community title scheme (which we are trying to avoid) but the seller apparently pays no body corp fees. My solicitor's searches seem to show there hasn't been any body corp activity on it. The only common property the 4 properties share is a strip of grass at the front of the properties. And there are no detailed by-laws.

As an investor who is planning on holding it long term for capital growth to grow my portfolio, would its low land value (split between the 4 houses) affect bank valuations adversely and the ability to borrow against it to buy my next property? Should I keep looking because of the low land value and body corp, despite the rest of the property ticks all the boxes?

 

I know this is only one example so not a trend but my PPOR is on a community titles scheme and has doubled in value over the past 5 years. I think the negative is that there can be convenents and further development can be limited (subject to body Corp approval).

Have not had any issues with bank valuation. Property is also used as security for IPs.

 

Banks will lend as per normal on this type of security, lots of large estates are set up as community title.
Capital Growth can be just as good for this kind of property.

Sometimes a shared driveway is the only reason they're set up as 'community title'