Seeking a BA who specialises in development sites

Hello all,
Not sure if this is in the right thread, but I wondered if anybody can recommend a BA who can assist me in my search for a development site. I am in Melbourne.
Thanks
Tegan

 

Unusual request. Kinda like a experienced miner asking for a gold mine lease

 

Hello Paul,
I dont think its unusual. How is the request different from others who are seeking a BA to assist them with a purchase of an investment or ppor? I am time poor and looking for a BA who has an idea about what site has good development potential or not. I have some basic criteria to go by and I am well and truly able to do the numbers to see if it stacks up or not, but its the ' searching ' part i need assistance with due to other work commitments.
Many thanks for your input.
Kind regards,
Tegan.

 

Really if you have dev background - you should be able to work out more or less what you can put on the site. you could easily eliminate sites that don't meet the criteria that by looking online and doing the research without even visiting. see the size, the zone (General Res Zone, ACZ ,Neighbourhood etc) overlays, corner block (dual frontage), easements, location electrical poles, etcs without visiting the site. A dev site is a bit more work and if the BA takes it on would be wanting more for the services and there is also no guarantees that a site can put X amount of units on it as it is subject to council approval.

which areas are you looking in?

 

What are your thoughts for someone who does not have a dev background and would like someone who does have one to make sure you don't screw it up in one of the infinite ways?

 

all takes learning as everybody has to start somewhere

take one site approach council and ask questions, speak to architects etc overtime the knowledge builds.

 

It is not an unusual idea. I offer it in Perth and it's a very niche market but one that needs niche skills

Some BAs will be able to provide this service but you will spend some time weeding out the people who can think they can do and those who actually can.

I hope you can find someone who can help trawl through the many many sites and help whittle it down to a manageable list of potentials and do feasibility on those.

 

Does the dev site have to be in melb?

@Westminster can prob help you with Perth dev sites @DaveM with adel dev sites... Just trying to think of Melb ones, don't think any of the people involved there post here anymore??

 

@Be Developer might have some contacts in Melbourne or @MTR from when they were developing there.

 

For Melb try @Lisa Parker or @JacM

 

Niche market.

I basically select development sites that may be suitable, but I flick them over to town planner or architect to view/advice what I can do with the block.

could you phone a couple of town planners ask whether they can provide this service.

 

Thanks Dave!


I do purchase sites for investors who intend to come back at a later stage and develop and in the mean time are good buy and hold properties. But they are not necessarily stacking up for development immediately.

I do pass on sites (off markets mostly) to a few contacts who I have finder fee agreements with (a bit different to a buyers advocate agreement which is where I am exclusively employed to source a property to a clients brief). I do not get involved in the feaso so they analyse it within a few hours and let me know if its a go or no go and we move forward from there. This works well for experienced developers, but not someone who is going for their first site.

I can't think of anyone who really specialises in finding profitable dev sites for other people except for @Be Developer but not sure if currently doing work in current market?

 

@tgan I reckon you gotto learn some basics first yourself - understanding zonings, easements etc so you can take the initial filter. Also you have to take into account the product it is offering - no point subdividing when the unit prices are just about the same as the build - in some areas it just does not justify it.

when eventually you find some sites you think is ok - you send like 2-3 of them to your architect or town planner who will advise further how many, build cost and that is if you have a relationship with them. for them to do this as really it is goodwill. Otherwise if you throw like 10 sites - then the architect/town planner would think this guy is just trying to get free service and then you sort of have to start fresh again as he might just avoid. Or you can work with council etc. I personally search my own sites (and can get a good estimate of how many I can get on) and also have bought for my relatives though without a fee as it purely goodwill.

I am also currently doing a dual permit on single site for 14-16 townhouses or 25-30 apartments.

 

Hi Guys,
You have all given me some wonderful feed back and advice that i will take on, and sincerely thank you. I may even ctc some of the suggested people, privately if ok. Some of you guys who are developing I admire your work. Thanks for sharing. Its so inspirational !
I dont have a development background so this is my first attempt. Although i have renovated and I have actually built a granny flat interstate(ba helped locate that) but all the rules ( zones, land sizes, trees, etc etc for developing and subdivision), I must admit are confusing me , and time consuming, as they appear to vary from municipality to municipality.
And thats why I believe some one who knows these rules/regulations better could assist in actually locating a potential site. I believe I have done enough re-search to be able to work out the numbers on a simple 1 to 3 lot subdivision to determine if it would be profitable, but actually locating it to begin with, seems to be proving hard for me and doing my head in!.
I actually know of a couple of town planners, in fact one fellow early last year I emailed a few sites to him and he was very gracious with his feedback and his time. But I just felt bad after a while, using up his time because I was clearly sending him lemons all the time ! After a while I gave up also because it was taking up alot of my time too.
Thank you heaps !

 

Thanks Lisa, but I am now not sourcing development sites for investors in Australia, just got very difficult for the numbers to stack up.

We are currently buying and developing property in USA.

Chirag

 

Great to know! Thank you! Let me know when you're back on it again. No doubt numbers will start stacking again in about 3 years time.