QLD IP opportunity with a catch.

Discussion in 'Where to Buy' started by hen.sl, 22nd Dec, 2021.

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  1. hen.sl

    hen.sl Active Member

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    Hi. I've come across an IP in a great location but...I've just been told it is affected by the Brisbane city council overland flow which is why the developers have not touched it. What are your experiences with building on blocks with overland flow?
     
  2. Mulianto

    Mulianto ~~

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    I have seen blocks of units (3 storeys) built on stumps.

    1DEC7FE0-2C2B-434A-98F6-6C972F5BBBA0.jpeg
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  3. Scott No Mates

    Scott No Mates Well-Known Member

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    If the developer has to fork out extra (which will eat away at possibly slim margins or increasing risk without improving returns), they will shy away from a difficult project.

    On the other hand, creative solutions (as above - built on piers, above flood levels with services protected from damage are a good & cost effective solution.
     
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  4. wylie

    wylie Moderator Staff Member

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    Will you be buying with the plan of developing the block? In a dip in our street, one house (Queenslander) was lifted, and had to make allowance for overland flow.

    Building townhouses would likely mean much more hidden cost than a single house. And the townhouses would not sell for any more than the same product without the extra costs for foundations, which aren't seen and aren't worth anything to the end buyer.

    Our DA included lifting two houses (nothing to do with overland flow) but I believe it would have been not first choice for most developers due to the hidden costs of moving existing houses to create the block to build on.

    I'd assume having the extra hidden costs of dealing with overland flow would be just as unattractive to a builder as dealing with having to work around existing houses.
     
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  5. hen.sl

    hen.sl Active Member

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    Yes I was looking at subdividing down the line. I am a builder but haven't built from scratch for years though, am mostly doing renovation work on very old queenslanders. Hence the lack of knowledge around overland flow.
     
  6. willair

    willair Well-Known Member Premium Member

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    Maybe start with the cost's to have flood cover on the property as that will tell you how they rate the location for flood risk..
     
  7. hen.sl

    hen.sl Active Member

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    Just got a quote.$1800/yr. pretty reasonable. and they have insured for flood so I the overland flow must be precautionary.
     
  8. PinkPanther

    PinkPanther Well-Known Member

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    A question there - So if a property is affected by the overland flow, how much below the market rate does it go for these days?
     
  9. The Y-man

    The Y-man Moderator Staff Member

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    Can be a problem getting to the the stairs though....
    [​IMG]

    The Y-man
     
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  10. Scott No Mates

    Scott No Mates Well-Known Member

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    Only if it's high tide (doubles as a moat).
     
    Last edited: 23rd Dec, 2021
    Hetty likes this.

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