Rezoning

I've found a large block of land that I would love to buy through a SMSF. It's zoned only as residential R1 though at the moment. Obviously would just buy it out right and hold for ten to fifteen years, as its a few hectares so would be great for blocks of units. How exactly do you go about zoning in the near future. Do you have to apply to the council when you want it rezoned? Do they let you know when they will reconsider it? Any help would be greatly appreciated

 

Is it in NSW?

 

It sure is

 

@The Dark Knight - What makes you think that the block would be suited to a block of units vs other development? Could it not be a potential subdivision? or industrial estate? Maybe retail? Retirement village? Church? Dam? 3rd airport?

 

Can you pm me the property and an email address? Have a heap of info about process etc. Can also check any long term plans.

 

cant help you specifically but is your intention to one day develop the block or simply have a long term investment and try to rezone to improve it's value?

you cant run an active enterprise/development through smsf generally but investing isnt an issue.

just make sure u spk to someone specialising in smsf re what you can and cant do

 

@Scott- My preference would be units but yeah its open season on whatever they would eventually let be built there the town already has an airport unfortunately lol. The church idea has interested me. Plenty of tax benefits I hear
Andrew- thanks mate I've sent a PM through
Sanj- Thanks for the heads up i'll look into it

 

I hope you don't mind me putting a reply up here as well, as it is quite a good example of the importance of looking at the planning constraints for investments.

The land is currently zoned for residential flat buildings and multi dwelling housing. So no rezoning is required. This confusion is pretty common where different councils have different permitted development types.

But, there are also some environmental constraints mapped. These may be minor, but they also may pose considerable risk to the investment in terms of future yield. This really needs further, in depth analysis before commencing on a major purchase.

Zoning is not the only thing to consider - apart from things height restrictions, Floor Space Ratios and the like, there can be other overlays which may negatively effect your proposed development.

It really pays to do due diligence prior to purchasing blocks for development purposes.

The block in question has some positive attributes, but it also needs some proper research to determine what the best approach is to be.