Subdivision $8,000,000 land

It's RU4 on both the LEP and NSW Planning Portal website. And it is not covered by the Growth Centres SEPP.

There may be a rezoning outstanding but it is not rezoned yet.

 

If you want certainty get the Contract and S.149 Certificate.

I can 98% guarantee you (the 2% being if the NSW Government has not updated the maps in the past 5 days) that the zoning is RU4.

 

thanks Andrew. You are great help.

 

@Zak

As @AndrewTDP said, get s149 certificate, it will have zoning on it.

other forum member are trying to caution you , as it seems that you don't have required experience for it.

Trust me on small mistake on such scale of development can wipe out your profit/capital.

if you are playing with that sort money, speak to few ppl in industry!

 

Wow, you wouldn't want to get the zoning wrong on a $8 mil development purchase.

 

Nothing wrong with thinking big and dreaming big. Just running th nunning the numbers is a valuable learning experience. Anything else afterwards will seem easy.

 

Careful in the Rouse Hill corridor. The LEP keeps changing with the issues of the new transport corridors and the hospital and other issues run by planning NSW. Council / State Gov are pushing density big time now. They want a lot of people filling the metro.
Even Kellyville has been marked for high rise. And more will come.

 

After my parents farm got compulsory acquired by the government few years ago nearby I am not sure what's going on there..It is outside the area 20 zoning, probably in box hill precinct. If RU4 it's probably worth under a $1m. If it's zoned you easily obtained what road goes through what zone. The gcc website has all this. However, as Andrew pointed out release and rezone is one thing, servicing is a big one. We took the government to land and environmental, and the 2 weeks in the courtroom was talking about servicing.

This property 3 years ago would be 1.8m or Less. If R3, would around $3m. Known a few that doubled on land banking in 2-3 years..

But $8m...seriously?

 

Start small.

 

Just spent few minutes on this
It is in the same precinct as my parents farm, the Riverstone East Precinct
It was one of the last one to release and rezone in the NWGC
Servicing ie water and sewerage needs to be investigated, though NSW government is fast trackng on these deliverables.
The land is released. However RE Precinct is taking stages to rezone the land.
Unfortunately the subject land is in Stage 3
It normally takes few years from released to rezoned. Being Staged rezoning I would anticipate some years before it gets rezoned.
Rezoning doesn't raise Developer interest, only servicing will. They need to be able to buy and develop. Land banking doesn't appeal to them
Land banking on $8 with zoning and servicing not ascertained is a big risk in my view.


source: http://growthcentres.planning.nsw.g...rthWestPriorityGrowthArea/RiverstoneEast.aspx

 

That would be why it's not showing up on the LEP.

You'd be buying on a long term strategy at the whims of politicians.

 

holding cost, State policies, council contribution and drama ... not worth it.

at $3mil may be.. not at $8M

 

Hi Zak,
Estimate timeframe for sewer and electricity (to change zoning) is 5-10 years.

 

Whoa who'd want to landbank $8m for 5-10 yrs then the 3-4yrs it will take to get it to market after that.

In comparison this is twice as large, zoned Urban Development so it can be rezoned commercial and medium density and has infrastructure.

At $10m and twice the size I know which one I'd buy.

 

http://planning.nsw.gov.au/~/media/24DF7DE985AB443A92F72507D74F2C65.ashx

Hey guys,

check this out. $8m for RE1 and drainage- buy of the century(jokes)

 

Have you seen the 'work in progress draft' Colleen emailed on Friday? Can't believe another park on Worcester

 

@Esh

Most likely intended for Bank of Asia.. Loves land banking with out knowing ins and outs of it.

Or

May be vendor is offering to pay for infrastructure... Hahaha

 

It will be interesting to see what happens with this property

 

From the Working Draft, @Esh provided, 40% is zoned water management. Typically its a result of flood prone or creek waterway, and you cant develop it. rest of 60% is zoned as R2, only good for single dwelling houses.. With the 'yellow patch' on street facing, you're likely have some degree of development constraints due to road access etc, and dependent on neighbor providing you access..
Drainage, water management, sporting field zoning are very cheap... you can negotiate with authority acquiring this, but typically its like 3-5 times discounted from a normal R2/R3 zoning.

Servicing is another concern. Developer will not land banking such a deal when servicing is not confirmed.