WA Post a Bargain - Perth

Sorry that was an ambiguous statement from me. I didn't mean to infer that R20/40 is better, just stating that mine was different. You are correct that R60 allows greater density. Note that this area is split coded not pure R40 or pure R60. There are requirements to get above the R20 base code which is why they are called R20/40 or R20/60

With the large 4th bedroom option you'd need to consider how 2 leases and safety would work. A granny flat would/should have a firewall in between for safety between the 2 units if it's attached but I know often they don't. There is also the grey line to do with not being in trouble for running a boarding house, you need to stay under 5 unrelated parties

As to going through the main house to the upstairs area, this was what made me assume it:

Main house kitchen I can see stairs through doorway to left



Photo from front door area showing stairs and looking towards main kitchen/dining



Generally you'll be paying for the development potential whether you want to use it or not as the land value becomes higher.

 

I was totally unaware of that idea.
Thanks a lot for the explanations @thatbum and @Westminster.

 

I like they have greek columns painted on the wall but not a simple hand rail on the stairs

 

That would certainly not be compliant with Building Codes Australia!

 

So we are going to this auction.

197 Hensman Road Shenton Park WA 6008 - House for Sale #126609166 - realestate.com.au

What do you think it will go for?

 

Have you seen the inside? No pictures on the net and agents description is vague. Maybe land value?

 

She is land only. We have only been on the outside but I guess that the reno on the inside would be the same (or more) than a new build.

The front is quite nice IMHO.

 

I'm not too good with the area. Low $1ms?

 

I'm guessing "good bones" means "***** interior".

It will cost more to renovate than knock over and build. And on that basis, I'm thinking $800k-$900k range. Even that is high imo. $1,300/sqm for the area, with no sub-div potential is over the top if you ask me.
Not a bad area, but nothing to write home about.

Blacky

 

I have lived in the area. I didn't love it.

 

We think it will go for low 1's. 1.1 ish.

Will let you know.

 

I was watching this property closely while it was for sale, really pushing a friend to buy it but they didn't go for it in the end. IMO one of the absolute steals of the down-cycle. the big block next door just went up for sale as the highest land in the city, no doubt it is destined for a premium medium rise residential development that would see this block virtually double in value overnight. Considering the blocks directly behind have 8 storey+ developments, I honestly don't understand how this was let go so cheap

22 Bronte Street, East Perth, WA 6004 - Property Details

 

Definite bargain there. I think with the licensing centre going it will increase well.

The marketing campaign did not go well. It was a set date sale by 28th Feb with a price guide of 1.2-1.5m with no takers. Then went to "offers" and then $1.175 finally someone bought it. Looks like they got a very healthy 90 day settlement period as well.

The block itself it a little awkward in that it's not terribly wide so you'd struggle with parking even with a basement but you could be ultra boring at that price and just put a triplex on it

Some nice quiet neighbours across the road in the cemetary.

 

since moving to Melbourne, my definition of "wide block" has definitely changed! I look at some cleared blocks here and wonder how it would possibly get 3 townhouses, then 12 months later it has 6 on it

 

68 Kitchener Street Trigg WA 6029 - House for Sale #126782734 - realestate.com.au

 

Love Trigg! btw that bathroom is awesome .

 

I agree with this. I am not sure why Westminster thinks anyone would struggling with parking on a 16m wide block. Developers need to start thinking outside the box a little, maybe use wider car parking bays and less aisle width??

The property below only has a 10m exactly wide block and had no worries parking 4 cars at right angles to the property boundary, by using wider car bays. At the end of the day the City of Perth and City of Vincent just put their template over it and wider bays completely complies with the intent of the Australian standards by allowing vehicles to turn on the spot in a low speed residential car parking situation.

1/63 Monmouth Street, Mount Lawley, WA 6050 - Property Details

I'm not too sure how many stories you are allowed on this site. But I'm pretty sure 20 cars could fit on it with wider bays, that's 20 apartments!

Massive bargain!

 

Monmouth is a great example of how to fit a front and rear development on a skinny block.

Lol I should have put my glasses on as I thought the block was 10.7m wide which I thought would cause some issues with parking but 3m wide or greater bays do help greatly for reducing turning circles required.

 

Bronte Street is an absolute steal imo! The east perth girls school was sold recently to Tim Roberts/Adam Zorzi and at the same time the State Government tried selling the carpark across Bronte Street as well. The carpark has bodies buried underneath though from the old cemetery (convicts, prostitutes, etc hence no headstones or anything) so got no bids and now the State is going to rehab the site and put it back on the market in a few years. I looked at a few plans years ago when it was first marketed that incorporated a larger development across both the girls school and carpark site, and closed part of Bronte Street - and this block is the final piece in that puzzle. If you can afford to hold for a few years I think you'd do very well once the developer comes knocking!

 

Just checked RP Data, seems the developer did come knocking and they were the ones who nabbed it! Smart move, and look forward to that site being redeveloped as I think it'd be a game changer and finally breath some life into that end of the City.