Hello fellow investors! its been a while since Ive posted but isnt it nice to go somewhere an get some honest and non biased opinions! So thanks in advance! I am looking in to investing in Marsden Qld, and have found this: http://www.realestate.com.au/property-house-qld-marsden-120463605 Plan is to buy and hold for a few years until prices go up a bit then sell off for a small lump sum With the plot size being 950m2, 50m2 short of the 1000m2 lot size required for subdivision, does anybody know how 'strict' local council . I am wondering if I have any chance that i might be also able to extract a subdivision in an attempt to add value. Any bit of advise would be nice! Thanks,
Anything with subdivision potential is selling quickly often before auction in that area. As its under 1000m2 then makes it tricky. Call Logan council planning and ask them. Or call a town planner. If your serious about that area with splitting potential I'd be engaging a good buyers agent and be specific about what you want, personally after using a buyers agent in the area I'd be trying for one with very good local contacts and preferably is based in Brisbane. Need to ask lots of questions to be confident you have found one that truly understands what you are looking for. Regular agents are so busy and have plenty of buyers lined up that its unlikely that they will call you when there is a good deal to be had!
Thanks rico2011! I did actually ring the council today. Fellow who rang me back was very helpful and friendly. In a nut shell, 1000m2 is definately the min required for subdivision. In fact, he was suggesting that the most ideal would be 1100m2. I could however put a granny flat out the back (but cant subdivide). Thx for your reply.
