Potential of large common area of a boutique block

Discussion in 'Investment Strategy' started by DrunkSailor, 30th Jul, 2019.

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  1. DrunkSailor

    DrunkSailor Well-Known Member

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    the apartment complex is only 12 units but the common area is much bigger than typical blocks. It’s mostly a backyard for the clothesline which is going unused at the moment. The complex is located inner city. What potential does all this space have for the unit owners?
     
    DrunkSailor, 30th Jul, 2019
    #1
  2. wylie

    wylie Moderator Staff Member

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    Barbecue area with seating?
     
    wylie, 30th Jul, 2019
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  3. TMNT

    TMNT Well-Known Member

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    What's the actual question?
     
    TMNT, 30th Jul, 2019
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    Joynz likes this.
  4. qak

    qak Well-Known Member

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    I was going to say put in a pool and waterslide (*TIC)

    I think the OP wants the OC to sell off the common property?
     
    qak, 30th Jul, 2019
    #4
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    If the FSR allows and there is an upside, sell the entire complex to a developer - they can then redevelop or add extra floors etc if they can fit the building envelope, site coverage, setbacks, open space requirements etc.
     
    Scott No Mates, 30th Jul, 2019
    #5