Hi, I will soon own a share in an R3 zoned property (with house) in the Newcastle area. The frontage is about 30m and its depth approx. 15 - 20m, while the land size is just over half an acre. We paid just under $500,000 for this property and got quite "lucky" tbh. As we are not builders ourselves, we thought the most profitable opportunity for us would be to first negotiate with council the zoning or seek conditional approval to build, say a 3 or 4 story unit-apartment style building. I would like to know how best to negotiate with council for approval. Should R4 zoning be a necessity to build units on this property, or if demand is high and supply is low within the immediate suburb could the property be approved for units? The plan then would be to sell the property at a little bit more than our purchase price - to a builder with efficiency economies to his/her scale and advantage. Sincerely.
The r3 zone allows every form of residential accommodation so you are only constrained by height fsr etc. However I don't think your block is big enough for a large apartment block because of building separation under SEPP 65. Post up the address and I can have a quick look.
As the property is currently under contract I prefer to minimise risk, sorry. However I can answer your prior question; without the address (right now), will I be allowed, say, a 3 story unit building? For conditional approval by Newcastle City council.
Feel free to pm details. It's not what I'm after and I review about 15 contracts a week without snaffling them for myself. Council will not give any form of conditional approval. It's a da or nothing. I can give you an idea about potential yield and what can comply with the requirements. I can't say whether 3 storeys will work without knowing the height restriction.
I spoke to Andrew about 2 years regarding a site in cardiff and found him to be very knowledgable re zoning and what can be done and very responsiveness. I didn't proceed with the site but wouldn't hesitate to engage him if I need the DA/CC done on a site.
Mate I would love to help but I'm not a town planner and andrew is. You really need a town planner that has worked with the NCC and can tell you that if you want to build a 3 storey flat resi building you will need this much frontage, this much minimum lot size, etc.
@Samir if you contact @AndrewTDP , you are in safe hands.. ( i haven't used his services as yet, but his post on forum is suffice to recommend him) If he can get DA under Affordable Housing.... you may be able to get more villas on it.. it will change you end profit!
I just started my investment journey but all this talk about development is making me excited on a Monday morning.
