VIC Melbourne Rezoned - ACZs, NEICs, RGZs GRZs etc

I am agree with you Barny

 

yeah a few ppl have asked me to be an BA - but some of my friends are now upset with me coz I revealed some of the tricks we use for growth and searching for IPs. Anyway if you wish you can msg me privately. there is a lot more involved in finding the property not just the zone etc.

 

98 also sold same day.

You can watch the auction online at gavl.com

 

There are still a few opportunities around George street.

134 power Street St Albans Vic 3021 - Other for Sale #126722494 - realestate.com.au
126 Power Street St Albans Vic 3021 - House for Sale #126803362 - realestate.com.au
54 Charles Street St Albans Vic 3021 - House for Sale #126737414 - realestate.com.au
96 George Street St Albans Vic 3021 - House for Sale #126198062 - realestate.com.au

 

Hi Melb. I couldn't reply to you with private msg. What is your email adress??

 

96 george st alone, can't go verry far isn't. 98+100 if the same buyer like a winning jackpot. To slow, should take seriuosly last week before the auction.

 

Hi Melb. Is it posible to have your number?? Just asking?? I might get lucky. Couldn't reply privately to you. It was bounch up

 

I have already PM you.

 

Yes double block is always good as you can do more - I have a double block in the growth zone as well in Melbourne. Was very hard to get.

 

If you are looking for a double block in st albans...

16-18 Curtin Street St Albans Vic 3021 - House for Sale #125071074 - realestate.com.au

Very close to primary school,uni, public transport and shops

 

this will go close to 2 mil mark though the permit is pretty bad. my double block is smaller than this and I can squeeze it 14 TH. End of the day no point having a decent block if you don't have a good architect /TP.

 

Yes I am agree with you Melb!!!!

 

thats pretty intimidating.. Only a person with deep pockets can do that.. you are pretty good tho!

 

It seems that people in this thread tend to buy properties based on RGZ only, even though Geelong or Werribee become good places to buy if properties are in RGZ
Even thought someone who has a house in GRZ tend to sell it and buy a different one in RGZ.

Newbies, please think twice i.e. demographics , people moving, job, supply & demand, scarcity, property cycle timing, your own finance, your development skill set/experience, personal circumstance.

RGZ is just a good hint, indicating that you can build more units on the land size. You do not automatically build such numbers units as it is subject to council approval, neighbour objections, site conditions, slops, trees, drainage, etc.

If a site can be subdivided, there is a premium price attached. The more units can be built, the higher selling price tag The seller always know about it. You hardly get a bargain. Most of the time, the seller want very high price which developer has no profit from development. That's why many experienced developers in this forum said where can find the property for stacked-up figures.

 

@PropertyInsight

First the zones is a guide not a definite must to purchase anything - and yes you need to work out the numbers. But one fact remains is the minimum garden requirement which is subjected to the GRZ properties which the RGZ is exempt upon which was legislated by gov in April 2017. The setbackups are also much less than that the GRZ - in some of them you could well build right up to the side boundary for x meters into the block for the ground floor. It is no different to why ppl buy "corner blocks" which is an advantage if you don't know the secondary frontage is not subjected to the primary frontage setback and the minimal cost for driveways and site costs due to the proximity to road and services. And similar to school zones either Balwyn high, GWSC or Mckinnon.

of course there are a lot of considerations that you have mentioned land size council approval however if you develop within the constraints of the RGZ you will be fine. and if you know the areas and know the plans ppl are putting in you have a significant advantage over the others. Of course, if everything was so easy the garbage collectors would be doing sub divisions, property development and making money.

I was actually quite suprised - There are many experienced developers on this forum some in the budgets of 10 mil (which do not really post their devs) have PM me to agree with the higher density zone as a good opportunity.

There is so much more opportunity in melbourne - places that are yet to be rezoned, government housing sold off (where they are just getting rid of hard to manage properties), new infrastructure, hospitals plans so really For those exp developers (the numbers should def stack up) - either they are not based in Melbourne, using someone who does not know the area or not searching harder enough or their town planner or architect is not motivated or yield focused enough. My friends are currently looking at new areas to invest in NOT in the RGZ or ACZ but other areas where there is significant upside. End of the day one has to look outside the square - otherwise you're just following the herd.

 

I agreed with Melbournian on all basics you have given. Also, your information is actually valuable to me and others.

The purpose of my post is to alert newbies who just looked at the zones without considering other factors. As I saw a couple posts that asked if they should sell their current PPOP in GRZ and buy a different PPOP in RGZ, it seems that poster is just focusing on zoning. Can the poster get finance to buy another property after selling hs PPOP? If yes, can he get a construction finance later? the lending conditions are more and more strict nowadays. Did the poster think about that risk? Others posted the RE links of sales with DA ready. It seems that posters think development is a easy path. Just grab a RGZ IP and make profit. Therefore, in previous post, I wanted to give more food of thoughts for these posters.

Property Development requires multiple skills and passion. It can be learned by doing and correcting mistakes. However, we can also mitigate the risk and avoid deadly cost by learning from others before running.

 

Glad that I can provide the information for your benefit

As for selling PPOR - that is a gutsy move not something I would advocate or do. But if it is an underperforming asset elsewhere in Australia has lacklustre growth - I would consider doing it as you are basically supplementing it with higher CG performing asset. I once upon studying the rezoning plans and schedules took a gamble on a site which was only a GRZ and upon 1 month of purchasing become rezoned. Requires a lot of on the ground research, reading the surveys and also understanding the various infrastructure development plans involved - I aslo corresponded with council, attended their information sessions as well as studied the various planning applications that were submitted. It is true, No investment is risk free so you have to take into account a lot variables and factors in moving forward.

 

This is the essence of the game. As glamorous as property development sounds, reading your posts shows how dry, dour and unexciting it is to a professional mindset like yourself. "Hey honey, I've got a date lined up for us, we're off to a council info session then back home for hot chocolate and studying various planning applications that have been submitted." Yay.

I became a very good trader and it aint no laptops on the beach in Thailand, it's just.....looking at a screen for hours like you go off at your kids for doing.

It also takes focus. I've done everything from renos to vendor financed wraps and am about to do my first small development, and by spreading my attention everywhere - Oooo look, shiny! - you end up just OK or crap at everything. That's why someone like yourself who does focus and get good at something, is of value to others who are willing to pay a fee for that service.