Join Australia's most dynamic and respected property investment community

Subdividing in Eagleby

Discussion in 'Development' started by Taku Ekanayake, 19th Oct, 2015.

  1. Taku Ekanayake

    Taku Ekanayake Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    938
    Location:
    Sydney, Australia
    Hey all,

    Does anyone know the minimum land required to subdivide in Eagleby QLD?

    I'm getting mixed reviews, also some saying it's part of Gold Coast council rules.
    My Eagleby property is 908m2 with side access. Hadn't thought of subdividing when I first purchased but if it meet requirements, it may come handy.


    Cheers,

    Taku
     
    Perthguy likes this.
  2. ej89

    ej89 Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    767
    Location:
    Sydney.
    isn't it 1000sqm to subdivide? I thought Eagleby was Logan council
     
  3. Taku Ekanayake

    Taku Ekanayake Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    938
    Location:
    Sydney, Australia
  4. SK Investments

    SK Investments Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    182
    Location:
    Wherever the wind takes me, currently Brisbane
    I think you'll find that it was under the gold coast but is now under the new logan planning scheme. I think it's minimum 700sqm for a corner block
     
    Taku Ekanayake likes this.
  5. Michael_X

    Michael_X Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    311
    Location:
    Gold Coast/Sydney
    Taku Ekanayake likes this.
  6. LJW

    LJW Member

    Joined:
    25th Jun, 2015
    Posts:
    19
    Location:
    Brisbane
    Eagleby was part of Gold Coast City Council but was transferred to Logan City Council when the Council areas were redistributed. However, as a new planning scheme for Logan had not been created at the time, the area was still subject to the requirements of the Gold Coast Planning Scheme. This changed in 2015 with the introduction of the Logan Planning Scheme 2015 so the area is now subject to the provisions of Logan Planning Scheme 2015. You haven't mentioned anything about the zoning of the site etc (which influences what you can do with your site) so I'm going to assume it is zoned Low Density Residential (Suburban Precinct) and is also a corner lot.

    The minimum lot size is 350sqm with a minimum average lot size of 500sqm, a minimum frontage of 15m or 17m (corner lot). As you only have 908sqm, you will only be able to achieve a minimum average lot size of 454sqm. You may still be able to subdivide but you will need to lodge an Impact Assessable development application. You will also need to demonstrate that the lots are of a size, shape, dimension and density that are consistent with the intended character of the area. Any other nearby lots less than 500sqm? If so, you might have a shot.
     
  7. Taku Ekanayake

    Taku Ekanayake Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    938
    Location:
    Sydney, Australia
    Hey @LJW,
    Thanks for the great feedback. It's actually not a corner block but has side access - will this still work?
    I will have to do some more research to see if any nearby blocks are 500m2.
    Btw, when you say 'nearby' - does this have to be on the same street or what sort of proximity are we talking about?

    Cheers,

    Taku
     
  8. BuyersAgent

    BuyersAgent Well-Known Member Business Member

    Joined:
    19th Jun, 2015
    Posts:
    496
    Location:
    Oz
    @Taku Ekanayake you will normally find the duty planner at council quite helpful, find out when they are least busy, ring them, be nice, ask lots of questions and pay a few compliments. You will get heaps of detailed info on what is likely to work. I find giving them the address and talking through the options often helps.
     
  9. Taku Ekanayake

    Taku Ekanayake Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    938
    Location:
    Sydney, Australia
    @BuyersAgent thanks so much for the feedback and advice. I'll ring them this week - haha flattery always kills!

    Cheers,

    Taku
     
  10. RetireRich101

    RetireRich101 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,963
    Location:
    Sydney
    @Taku Ekanayake

    Interesting... I found this property 10 Japonica Street Eagleby Qld 4207 - House for Sale #124578726 - realestate.com.au
    Then I dig into a bit more.

    The property was originally a 809m2 lot with 20m frontage and the owner was able to subdivide into 2 x 405m2 lots ( this splitter is similar to what can be achieved in BCC council)

    It appears the planning and DA is still under planning of GC....(it could LCC couldn't be bothered to changing the planning when it was merged into LCC in 2007, or maybe they accept both DA...not sure.)

    From the Eagleby Local Area Plan map below, if still current, the RD1 zoned depict a "up to 25 Dwelling per net hectare". This means you can actually subdivide for lots that are 800m2
    In comparison, Logan City most of the "suburban" zoned have a 20 dwelling per net hectare meaning you need 1000m2 to subdivide..

    upload_2017-1-28_10-4-53.png

    upload_2017-1-28_10-5-18.png
     
    Be Developer and bob shovel like this.
  11. Taku Ekanayake

    Taku Ekanayake Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    938
    Location:
    Sydney, Australia
    very interesting! thanks for bringing this to my attention @RetireRich101 - shows the application was submitted on October last year. can't find 10A is selling also as a vacant block of land with 10.7m frontage. definitely a good case for mine as it's only three streets away.
    10A Japonica Street Eagleby Qld 4207 - Residential Land for Sale #201703370 - realestate.com.au
     
  12. RetireRich101

    RetireRich101 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,963
    Location:
    Sydney
    oh wow, he is trying to sell the other half, a vacant land for 220k..

    I think it was a fire damaged house, owner demolished it and sold the 809m2 land for 185k
    Address available on request, Eagleby, Qld 4207 - Property Details

    some purchased and subdivided, build a house on 405m2 and is selling the 405m2 vacant land.

    anyone up for a challenge to see what profits (if any) he is making on the deal?
     
    Be Developer and Taku Ekanayake like this.
  13. Taku Ekanayake

    Taku Ekanayake Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    938
    Location:
    Sydney, Australia
    if he gets even $220K for the vacant block, that means he has covered the cost for the $185K he paid for the entire block and $25K for the sub-division.

    what would a new house like that cost to build? never done a new build but would $250K be safe to assume?

    if he sells that for $440K - that would still be gross $190K ish, then minus selling costs, tax, holding costs etc. what else have i missed?
     
  14. Be Developer

    Be Developer Property Developer Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,326
    Location:
    Australia
    @RPI


    His planning team knows things back to front!

    Just be mindful of subdivision cost
     
    MTR likes this.
  15. RetireRich101

    RetireRich101 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,963
    Location:
    Sydney
    me thinks,
    End value:
    New house on 405m2 sells for $380-420k
    405m2 vacant land sells for $200-215k
    Total $580-635k

    Cost:
    810m2 land $190k
    Subdivision cost $55-75k
    build house 190m2 $220-230k turn key with basic landscape driveway..
    Selling cost $20k
    Loan $15k
    Total cost $500-530k

    Profit 80k-105k (16-20%)

    we can keep tab on the realestate for the 2 properties to see what the end value is sold
     
    Taku Ekanayake likes this.
  16. Taku Ekanayake

    Taku Ekanayake Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    938
    Location:
    Sydney, Australia
    like the numbers. from memory it said he/she purchased the block in Oct 2015 i believe. Will be around 18 months once transacted. because it's been over a year, he'll get minimise his CGT also.