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Proposed R-Code Changes in WA

Discussion in 'Development' started by Jarrad Mahon, 2nd Sep, 2016.

  1. Jarrad Mahon

    Jarrad Mahon New Member

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    Hiya
    I just looked over the proposed R-Code changes... Perhaps some of our experts in this space can chime in on what they think is notable but most of the changes seem to relate to minor building design and construction standards...

    It was however very interesting to see the requirements for aged person's dwellings reduce the minimum number required in a single development from 5 to 2... which should see this type of development more easily done by the mum and dad investor...

    Which given the 30% density bonus and our ever aging population, would be worth considering... as it could potentially now turn a duplex site into a triplex aged person site.
     
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  2. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    I think the decrease of aged or dependant person dwellings is a marvellous one. Many older people want to age in their community where they know where everything is and have built up support networks. Same goes for dependant people they want to be close to family and friend networks.
    Financially it means that almost anyone can do this under residential lending terms rather than commercial lending terms that 5 previously dictated.
    It also opens up the ability to have a mixed site - ie 2 normal villas and 2 aged or dependant dwellings
     
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  3. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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    @Jarrad Mahon welcome to PC mate.

    This is an exciting development, pun intended!

    Could be a great little niche to find people with unencumbered property who want to remain in the area and do a JV where they end up with one of the dwellings without the hassle of organising themselves.

    Could work it so they get a great deal and the developer makes a tidy profit. Win win!
     
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  4. Perthguy

    Perthguy Well-Known Member

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    Definitely worth considering but be aware this strategy requires a lot of market research and due diligence. I saw an aged person's dwelling sit on the market for 3 years across the road from Belmont Forum. It's not the best location and it was overpriced at the start but still worth keeping in mind what can happen if you don't do your homework. This property listed in April 2013 for $429,000 and sold for $300,000 in August 2016.

    Sold Price for 176 Fulham Street Kewdale WA 6105

    FULHAM (SREET|ST|STREET) Kewdale Real Estate Old Listings
     
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  5. Big Daddy

    Big Daddy Well-Known Member

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    After DA, who would enforce this rule? Council? , and how would they know if the Property Manager didnt find a disabled tenant?

    C2.4
    At least one occupant is a disabled or physically dependent person or
    aged person, or is the surviving spouse of such a person, and the owner of the land, as a condition of planning approval, lodging a section 70A notification on the certificate of title binding the owner, their heirs and successors in title requiring that this occupancy restriction be maintained.
     
  6. Perthguy

    Perthguy Well-Known Member

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    This is for aged or dependent person's dwellings. I could rent privately and put in a 50 year old instead of a 55 year old as required.

    Council enforces this. My understanding is that it is complaints based. For example, my 50 year old tenant throws loud parties. The neighbours complain to council. Council investigates and finds out my unit is an Aged or Dependent Person's dwelling requiring a 55 year old or older. They speak to my tenant and find out they are only 50 years old.

    I have no idea what action a Council would take in this situation.

    In some cases the restriction of occupants could be part of the Strata management statement. In that case a breach could be taken to the State Administrative Tribunal for enforcement action.
     
  7. Jarrad Mahon

    Jarrad Mahon New Member

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    Its a difficult one to research because most over 55s are retained by the developer and operated as retirement villagers... Hard to know the full story just by looking at a single sale price.

    On that note, financing would be interesting given their is little direct sales evidence for values to use.
     
  8. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    There was a very successful over 55s in Gwelup with no communal stuff. It's selling point was all around that and all have street frontages and 2 bedrooms. They sell for around $500k

    It's a good location close to shops, medical centre etc. no need for retirement village style. It backs onto freeway so it's ideal for people who have age related hearing loss:p
     
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  9. Perthguy

    Perthguy Well-Known Member

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    They are more common than you might think. I know because I was looking for a unit in Queens Park a while back and it seemed that every second property was over 55's only. There are 3 on the market in the City of Belmont right now.

    69 Belvidere Street, Belmont WA 6104 - Villa For Sale - 2013008012
    1/93 Roberts Road, Rivervale WA 6103 - House For Sale - 2012848687
    Unit 2 / 382 Belgravia Street, Cloverdale WA 6105 - House For Sale - 2012958605
     
  10. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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    Was that taken form the marketing material? If not, it should be included!
     
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  11. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Sold Price for 37 Wishart Street Gwelup WA 6018

    There is about 15 of them which is quite a few to not have communal facilities but they set them up with all their own titles and all street frontages so very attractive.
     
  12. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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    Location would be the key for these type of properties with easy access to public transport a must.
     
  13. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Absolutely and it must be safe access - no playing chicken on busy roads.
    Gwelup has 2 over55s communities (one with nursing home), one pure nursing home plus these over55s. In terms of location these stand alone ones have the best and safest route to the shops and bus stop.
    The most dangerous thing in Gwelup is being run over by over55s in their mobility scooters.
     
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  14. Aaron Sice

    Aaron Sice Well-Known Member

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    That and crossing the road before the roundabout near the shops heading south on North Beach Rd, school side. People love NOT slowing down for that roundabout.