Limited Title Loans and Potential LVR (potential..)

Hi Everyone,

Ive been trawling the forum for a little bit and have been unable to answer my own question so thought i would post..

Situation: I received a call from an agent about a splitter block for sale, with a small issue, it has limited title. I've done the numbers and believe that servicing both blocks (water, sewer etc), and getting a redefinition plan would be profitable venture. (selling block where house which is fully within individual lot boundaries, and retaining separate unimproved lot)to build a PPOR, or investment dwelling)

My issue is from reading the forums i don't believe i would be able to attain a LVR of around 80% for the deal. I have enough to cover costs of surveyors and lodging with LPI (i have attained quotes already and have a rough idea about costs) i just don't know which lender could help out. House is lease-able at present, (2.5% yield on PP). Total project time would be circa 12 months whilst working full time.

I'm trying to find a way forward or move away from the deal if i cant get finance. Happy to answer questions if i've missed anything, possibly would have...

Cheers in advance.

Notation below Noted on both titles