WA Post a Bargain - Perth

Discussion in 'Property Analysis' started by MTR, 17th Jan, 2017.

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  1. Perthguy

    Perthguy Well-Known Member

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  2. Perthguy

    Perthguy Well-Known Member

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    What @Big Daddy said. The rules for split or flexible coded lots are in the LGA Local Planning Scheme or a Local Planning Policy. Here is an explanation from the City of Gosnells, noting that the numbers in Table 1 are out of date.

    http://www.gosnells.wa.gov.au/files...and_with_a_split_residential_density_code.pdf
     
  3. MTR

    MTR Well-Known Member

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    I reckon @Westminster would probably be your best bet to answer your question

    Off the top of my head some areas that have development potential that may tick your box??

    Girrawheen
    Koondoola
    Cooloongup
    Lockridge
    Beechboro
    Balga ? but way too much development stock? perhaps still worth looking?
     
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  4. MTR

    MTR Well-Known Member

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    Great, only thing with Gosnells.... soil Clay, can add significant costs to build?
     
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  5. Perthguy

    Perthguy Well-Known Member

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    Could be. Clay affects part of Beckenham too.
     
  6. MTR

    MTR Well-Known Member

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    Its hit and miss, I know a developer who ended up paying close to $90K extra due to clay. If not budgeted .....ouch
    Same in Midland
     
    Last edited: 17th Jan, 2017
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  7. Perthguy

    Perthguy Well-Known Member

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    If I was looking to buy now I would be looking for a sub $500k triplex development site around 1,000sqm. But as you pointed out above, watch out for clay!

    reiwa.com - 16 Sullivan Street, Beckenham
    reiwa.com - 50 Donaldson Street, Queens Park
    reiwa.com - Lot 1, 100 Crawford Street, East Cannington
    reiwa.com - 39 Celebration Street, Beckenham

    The other thing to watch out for in these areas are City of Canning developer contributions. Can be a real deal killer. This is an exerpt from the City of Canning fact sheet:

    The developer/landowner is to comply with the terms and conditions of the City of Canning’s Guided Development Town Planning Schemes.


    This condition may be applied to subdivision applications involving land that is located within the City of Canning’s Town Planning Schemes No. 17A, 21, 38 and 39. Where this condition applies there may be a requirement to pay Scheme Fees and/or Public Open Space contributions. It is recommended that the developer/landowner liaise with the City’s Land Administration Department on 9231 0759 for further information.​

    http://www.canning.wa.gov.au/component/option,com_jdownloads/Itemid,0/catid,79/cid,1000/task,finish/
     
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  8. Big Daddy

    Big Daddy Well-Known Member

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    Watch out for clay in Midland, MIdvale, Bellevue, armadale,Gosnells, kelmscott and near river in bassendean ,ashfield ,ascot, ,guildford, woodbridge, viveash

    There may also be clay in certain parts of Queens Park and Cannington (based on a report i have)
     
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  9. Big Daddy

    Big Daddy Well-Known Member

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    Im pretty sure some parts of Beckenham dont have deep sewerage and will never be subdiviable until they have deep sewerage. Can anyone confirm?
     
  10. MTR

    MTR Well-Known Member

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    What would the end values of product you would build
     
  11. Perthguy

    Perthguy Well-Known Member

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    As far as I know this is correct. That said, I don't think areas would be zoned R30 unless they have deep sewerage available.
     
  12. Perthguy

    Perthguy Well-Known Member

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    I am not in the market so I have done zero DD. What I mean by this is that I would not have a clue because I have done no research in the area.
     
  13. Chabs

    Chabs Well-Known Member

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    I would buy that in a heartbeat at that price, but the $500k is for only one of them... it says P.O.A. for the other home. chances are together they will want $1m+
     
  14. Perthguy

    Perthguy Well-Known Member

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    Wow! That is amazing/bizarre. I have never seen so much face brick. Could be a project for someone to render and whiteset that! :)
     
  15. Perthguy

    Perthguy Well-Known Member

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    Under $500k for a 4x2 is a bargain in Winthrop as far as I know. It could be a good reno and sell project subject to DD of course.
     
  16. MTR

    MTR Well-Known Member

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    I think this works if current stock drys up, developers can not sell what they have that's the issue
     
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  17. Perthguy

    Perthguy Well-Known Member

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    There is a big lag between subdivision approval and land release so if this is going to be an issue we won't know about it for a couple of years
     
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  18. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    That's not a high budget for a 'good' suburb :p

    Looking for duplex or triplex project?
    There is an awkward shaped rear loaded R60 759sqm block in Harrisdale open to offers at the moment and will probably sell around $400k - it was previously advertised at $450k. It could be duplex/triplex or quad. Fully cleared in a new estate with front landscaping, fencing incentives, class A soil.

    I'd check :
    Wanneroo (something like this 55 Manbari Crescent, Wanneroo, WA 6065 - Property Details)
    Greenwood
    Craigie
    Warwick (though would be hard to get 450k)
    Success (new train station almost finished)
    Baldivis (though is very very far away)
     
  19. Perthguy

    Perthguy Well-Known Member

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  20. RetireRich101

    RetireRich101 Well-Known Member

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    say what now? :p

    I want a corner lot 1000m2 R40 with house shifted one side allowing to build a triplex on vacant land...
     

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