Major Development

Discussion in 'Development' started by Linda O'Leary, 21st Feb, 2020.

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  1. Linda O'Leary

    Linda O'Leary Member

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    Hi Folks,
    We just joined and this is our first Post.
    I am a Cowboy and an Old one. I want to retire. We have part of probably the most attractive and last parcel of Subdivisional Lands, in the Suburbs. We have 3 Mates. All adjoining. All Horse Properties. We are all Old :)
    We have a major Developer chasing us but they are saying we wouldn't get any money for 5-7 Years. No good for me. He just Contracted our 15 Neighbors ( 11 acres each) and is going to do theirs first. What would you suggest? We have a meeting this Sunday with all our Neighbors, to make decisions.
    Regards
     

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  2. thatbum

    thatbum Well-Known Member

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    What do you want to happen exactly? All you've said so far is that its not good enough to not get any money for 5 to 7 years.
     
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  3. Linda O'Leary

    Linda O'Leary Member

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    Yes. It's such a long story. We are actually the one's who put the Developer onto this as we had our place on the Market normally, a few Years ago. We told them our problems, age, living 100k away and having to drive there for property maintainance as it is an equestrian centre with 32 Clients as well as the traffic growing so much it now takes us 2 hours to get there, so a fair wack our of our day.

    We also told them that if they did buy the District, tht they should start development on our side of the road, for you can't have 4 Major Equestrian Centres putting up with the dust and then the complaining first residents, as always happens when Planning clashes and is the reason why every equestrian centre and Club have been kicked out since 1836 in City Centre.

    We are only 20 Minutes from CBD

    We are totally flexible. Our Property is held in a Company, with 100 shares and so we can do what we like. We would hang in there for the longer term, if we could get a deposit to pay out our Mortgage but they won't ome at that.




    62, member: 103"]What do you want to happen exactly? All you've said so far is that its not good enough to not get any money for 5 to 7 years.[/QUOTE]
    Yes.
     
  4. Archaon

    Archaon Well-Known Member

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    Put all the properties together in a single parcel sale and float to developers nationally and internationally?

    Have two developers competing with each other, the original developer might not want other developers setting up shop and may be forced to buy yours earlier.
     
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  5. Linda O'Leary

    Linda O'Leary Member

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    Yes.[/QUOTE]

    I just wish I was Younger as I have learnt how to read the future and know what works and doesn't. There is one Hell of a need in this City, for a Gated Community, with the fences, the 24/7 Security Guards and if it were offered, in this idilic location, 15 Minutes to the City on the O'Bahn, they would knock you down to sign up. Just watch the Channel 9 each Night with the Fire Bombing, the Home invasions, the Burnt Cars, the Burnt Brush Fences and Houses. The time is now.
     
  6. Linda O'Leary

    Linda O'Leary Member

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    OK. Thanks for your replt. Where does one do that on the Internet? Us 12 Neighbors, are all meeting Sunday. They all want to sell but they too don't want to wait so long. They are old too :)
     
  7. Linda O'Leary

    Linda O'Leary Member

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    We've run the show for 25 Years.
     
  8. Linda O'Leary

    Linda O'Leary Member

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    I just wish I was Younger as I have learnt how to read the future and know what works and doesn't. There is one Hell of a need in this City, for a Gated Community, with the fences, the 24/7 Security Guards and if it were offered, in this idilic location, 15 Minutes to the City on the O'Bahn, they would knock you down to sign up. Just watch the Channel 9 each Night with the Fire Bombing, the Home invasions, the Burnt Cars, the Burnt Brush Fences and Houses. The time is now.[/QUOTE]
    with one of the best walking and riding trails in any city in Australia, running through the properties.
     
  9. Linda O'Leary

    Linda O'Leary Member

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    with one of the best walking and riding trails in any city in Australia, running through the properties.[/QUOTE]
     

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  10. wylie

    wylie Moderator Staff Member

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    When we were keen to know what our suburban development block would sell for, to help us decide whether to develop it or sell it with the DA (or without), we called in an agent who had a number of developers on his books.

    He put it to a few of them, and next day we had an offer.

    Do you have an agent who could look at this. Or one of the big agents that do these big deals?
     
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  11. Linda O'Leary

    Linda O'Leary Member

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    [/QUOTE]
     
  12. Linda O'Leary

    Linda O'Leary Member

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  13. Linda O'Leary

    Linda O'Leary Member

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    Lol to the Agent....:) Our Agent, who we put onto the fact that the 15 properties on the other side were up for grabs, now suddenly represents the Developer :)
     
  14. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    For such a large development - 15 under contract and an additional 12? many developers will wish to have you under Option or very long settlement as the current developer has wished so they can get all their subdivision approvals done without spending money.

    Your options are
    - standard stand alone sale that might appeal to a smaller developer who wants to join up with the other developer. You just need good REA with commercial contact
    - stay as a group and use a REA to find another developer who will buy your lots at more favourable terms if you can all reach a consensus as to the terms you will all agree to
     
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  15. wylie

    wylie Moderator Staff Member

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  16. Linda O'Leary

    Linda O'Leary Member

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  17. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    I think you want someone big like CBRE etc who can take it nationally for interest
     
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  18. wylie

    wylie Moderator Staff Member

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    I wonder if someone like Colliers might help in finding someone. I like the idea of putting this parcel to the market and let some other developers get involved. It may push prices up and might see you sell sooner.
     
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  19. Linda O'Leary

    Linda O'Leary Member

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    We are very sure the Developer already has the Green Light. There are 61,000 more houses needed in our Suburbs (Govt) and.......he wants to send in the Soil Testers next week. We allowed him to add our Lands to the other side of the Road, last August, for Due Diligence. Liberal Government, big names.
     
  20. Linda O'Leary

    Linda O'Leary Member

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    Great advice. We will raise that Sunday. Thanks again