QLD Land in Ferny Grove - seems to cheap given block size

Discussion in 'Property Analysis' started by Istanbulla, 21st Jul, 2020.

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  1. Istanbulla

    Istanbulla Member

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    I'm quite the newbie at this guys, so please bare with me.

    So here is a big block of land (8 hectares), selling for 600K

    https://www.realestate.com.au/property-residential+land-qld-ferny+grove-202513690

    I'm really not sure why it's going for this price, when there are plenty of standard 700 sqm blocks selling for 400K:

    see here:

    https://www.realestate.com.au/sold/property-residential+land-qld-ferny+grove-202235566
    https://www.realestate.com.au/sold/property-residential+land-qld-ferny+grove-202288430
    https://www.realestate.com.au/sold/property-residential+land-qld-ferny+grove-202057322

    etc

    So is there an issue with regards to limits on subdivision?
     
  2. gach2

    gach2 Well-Known Member

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    one lot probably has no services, full of trees, rough terrain while the other lot is serviced prepped and ready to build

    You might be able to build one house on the large lot and even then expect the costs to be quiet high

    and im sure you cant just subdivide land - theres planning codes - without even looking I can tell you that lot is not subdividable
     
  3. Scott No Mates

    Scott No Mates Well-Known Member

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    What's the zoning? How much is environmental protection zone?

    What's council's attitude to clear felling the land?

    Is there an endangered species survey?

    Aboriginal sacred sites?
     
  4. spludgey

    spludgey Well-Known Member

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    Easement?
    If you're interested, just get a contract of sale and have a look. All these things are listed, at least in some states.
     
  5. Archaon

    Archaon Well-Known Member

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    Ask a townplanner.

    It might not even be zoned correctly for a dwelling house.

     
  6. MelindaJennison

    MelindaJennison Brisbane Buyer's Agent & QPIA Business Member

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    It is zoned Rural (info here: MBRC Planning Scheme - Rural zone) and it is actually Ferny Hills not Ferny Grove - which places it in the Moreton Bay Shire not the Brisbane City Shire.
    The block also has a LOT of overlays that impact the site including bushfire hazard, landslide hazard and overland flow (only small area) among others.
     
    segue likes this.
  7. Tom Rivera

    Tom Rivera Property Manager Business Member

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    There's GOT to be something seriously wrong there. What a dream property :D
     
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  8. Istanbulla

    Istanbulla Member

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    Thanks very much for all the responses guys... :(
     
  9. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    What do you know about asbestos & lead ?
     
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