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MBRC Zoning & Valuation of Development Land?

Discussion in 'Development' started by Whishy, 17th May, 2016.

  1. Whishy

    Whishy Well-Known Member

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    Location:
    Brisbane
    Hey guys,

    I have a 2200m2 block which is 500m away from soon to be functioning Train Station and within 2km University of Petrie precinct. I have been approached by developers who have shown interest but I have no gauge on what fair price would be should an offer come our way.

    I did a little digging and found that the new MBRC planning scheme has provided the following zoning on the property:

    Property size: 2,209m2
    MBRC Planning Scheme information
    Zone: General residential
    Zone precinct: Urban neighbourhood
    Place type: Urban Neighbourhood

    Urban neighbourhood precinct
    Dwelling unit
    Home based business
    Multiple dwelling
    Residential care facility
    Retirement facility
    Rooming accommodation
    Short-term accommodation
    Medium and high density housing including apartments, plexes, row or terrace housing, townhouses and managed communities
    Minimum site density of 45 dwellings per hectare (75 dwellings per hectare in particular localities)
    Building height between 8.5 metres and 27 metres



    Can someone tell me if this is the best case zoning for development within the MBRC? By my view, the Urban Neighbourhood precinct seems to be the most viable for developers.

    Was previously Residential Zone A.

    Also, How would one go about obtaining a valuation of the land component in terms of value a developer would potentially pay?

    Thank you for your help
     
  2. A.Butler

    A.Butler Active Member

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  3. Whishy

    Whishy Well-Known Member

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    Yes. But was not looking to advertise that on this thread / site for obvious reasons.
     
  4. A.Butler

    A.Butler Active Member

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    Sorry mate just making sure I was looking at the right place it's in a pretty decent location I'm not supprised you were approached. I would be interested in what everyone else on here thinks.
     
  5. Whishy

    Whishy Well-Known Member

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    Haha its ok mate just didnt want people thinking I put it on here to advertise it.

    Im a novice when it comes to all this but just wanted an experienced hand to see if they could give me a ballpark value range before I deal with other parties.
     
  6. A.Butler

    A.Butler Active Member

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    From an engineering and design perspective, i don't think any developer would have too much trouble getting an approval through. Have you thought about getting it approved for da before selling it on it may increase your asking price.
     
  7. Whishy

    Whishy Well-Known Member

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    Yeah I have thought about it. Was actually mid renovation when I realised its probably just a waste of time as the house will be knocked down anyway.

    Wanted to get a good understanding of its current potential value to see if it were worthwhile going to the effort of DA or just flip it.
     
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  8. Whishy

    Whishy Well-Known Member

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    Done some more research and have decided to list it with an agent who has proven he has many developer contacts. Although he still doesnt know the value until speaking with developers.

    Looking further into it, the rezoning is quite significant as it requires a minimum density of 75 dwellings per hectare, which means a dwelling every 135m2 or so... With a maximum height of 27m this is a prime site for a multi level complex.

    Will be interesting to see what arises.
     
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  9. A.Butler

    A.Butler Active Member

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    Good to see it should progress forward hopefully you get a great offer