re: Corner block aspect scenario

Discussion in 'Investment Strategy' started by RJS, 28th Nov, 2016.

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  1. RJS

    RJS Well-Known Member

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    Hi everyone,

    I'm trying to ensure I am not overthinking this purchase(vacant land) but I have the following scenario(image attached). Area: 607sqm., concerns/questions below.

    * Is this a desirable aspect/ orientation?
    * Pros and Cons of this location being a corner
    * Accommodate (maybe) a granny flat down the line.

    Any thoughts/suggestion highly appreciated.

    Thanks!
     

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  2. shorty

    shorty Well-Known Member

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    Duplex? Could have separate frontage
     
  3. albanga

    albanga Well-Known Member

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    Looks like a standard corner lot to me? What's your concern?
     
  4. Joynz

    Joynz Well-Known Member

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    I think it isn't oriented that well for northern light- assuming I am reading the diagram correctly.

    Good for subdivision as on a corner.
     
  5. RJS

    RJS Well-Known Member

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    Hi shorty,
    I am not sure if I can do a duplex. Where and how can I investigate this option?
     
  6. RJS

    RJS Well-Known Member

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    Can you please help me understand your feedback? Thanks

    Also, how can I investigate if a subdivision is possible?
     
  7. RJS

    RJS Well-Known Member

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    Would you be able to provide feedback on the orientation of this block?
     
  8. GreatPig

    GreatPig Well-Known Member

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    Agree about the light. The street frontages are SE and SW, where I think NE and NW would be better, otherwise the neighbouring houses could block the sun, especially if they're double storey.

    Also consider that there aren't that many project homes for corner blocks, so you could need a custom design which would cost significantly more.

    Is that drawing to scale? If so, those other houses across the streets are on smallish blocks.

    For subdivision, you'd need to check the council DCP to see what the minimum land size is for subdivision. 607m2 is probably too small for Torrens, but you may be able to do strata.
     
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  9. RJS

    RJS Well-Known Member

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    The drawing is not to scale. I have reattached the drawing.
     
  10. RJS

    RJS Well-Known Member

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  11. RJS

    RJS Well-Known Member

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    **Amateur question alert.**
    Agent mentioned twice, this land has a good building envelope? Can someone explain in layman terms?
     
  12. melbournian

    melbournian Well-Known Member

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    I was researching a lot on corners sites in Melbourne at one stage. To make easier to understand the regs. The benefits are :-

    1.U get 2 frontages and only one where the main setback applies.
    2.More space to build due to this larger site coverage from the lesser setback requirement
    3.The cost is cheaper as u don't have to build longer driveways with plumbing, power pits running through the back. Which can run anywhere btw 50-100k
    4. This is more appealing to buyers than buying a lot in the back and sells higher
    5. Easier to approve by council and less hassles than one in a back
    6. With dual frontages you can approach volume builders to see which plan u can use to just put it in there hence much cheaper than a custom build

    The downfall is the price is normally more expensive in auctions so sometimes it goes 70-100k more than a normal site
     
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  13. RJS

    RJS Well-Known Member

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    Very helpful comments melbourian. Thankyou.

    I have heard about the orientation aspect, would you know what is optimal?
     
  14. melbournian

    melbournian Well-Known Member

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    not sure what orientation do you mean but for making $$ purposes I have seen people put 3 on 600sqm block before and that would be ideal. 2 skinny townhouses and one main house in nominated front street which is the one that is the smallest frontage width.

    Corner allotment setbackups :-

    Minimum setback from front street alignment

    If there is no building on the adjoining allotment facing the same street
    6m for a building facing a declared road
    4m for a building facing any other street

    Minimum setback from a side street alignment
    2m
     
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  15. RJS

    RJS Well-Known Member

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    Thanks again,

    Regarding orientation, I was referring to North/South facing for energy efficiency, lighting etc.
     
  16. RJS

    RJS Well-Known Member

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    Thanks GreatPig.

    Wouldn't a north facing backyard be more desirable when North-South?
     
  17. melbournian

    melbournian Well-Known Member

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    although important - this is not that crucial as looking at the diagram - the houses can only be in a certain direction. As others have mentioned, Speak to a townplanner /architect who specializes in the area. they will know the ins and outs of what can be approved easily or not.

    I would be looking more on sewer or easements or if there are any electrical poles etc that may increase the cost of the dev etc rather than orientation.
     
  18. RJS

    RJS Well-Known Member

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    I understand, going to give lesss importance to orientation and pay attention to sewer/easements.
    Anything I need to be mindful or look out for?
     
  19. melbournian

    melbournian Well-Known Member

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    you need to get the s32(vic) or vendor statement. look at the various diagrams and call up the utility companies for more clarification. Ideally go for dial before you dig website and chweck or request to see where the fixed assets are. Of course if there is pole right next to possible driveway, it will cost $$ to move it(not cheap) or if there is easement or some pipe - even if not used and could have asbetos (it will cost $$ to remove) or a sewer point location in an undesirable location say right in middle as you can't build over it and have to maintain x distance from it. This then forms your overall initial assessment if the site is worth pursuing for X dollars as an investor.Other not so techincal factors zoning, schools etc

    If it costs you X dollars to remove certain things or fix certain things like say remove an easement and the price is still feasible to work with, then go for it. All property investors should really to able to ascertain these items before buying an ip.
     
  20. MTR

    MTR Well-Known Member

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    If you are serious about it get a town planner out there perhaps pay $300 and should be able to tell you exactly what you could fit on the block.
    Also, don't forget trees, if there is a vegetation overlay.
    As mentioned by OP you need section 32 first
     

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