Join Australia's most dynamic and respected property investment community

subdivision Winthrop

Discussion in 'Development' started by Mikasa, 13th Jul, 2016.

  1. Mikasa

    Mikasa Member

    Joined:
    28th Jun, 2016
    Posts:
    9
    Location:
    Perth
    Hi guys

    I have a property in Winthrop the land size close to 900sqm corner block, drive way possible for both side of the roads, double frontage, not on main road. The frontage on one side is around 21m with 8.9m truncation and the other side is approx 25m.

    I noticed that recently the council rezoned the area to R20.

    My question is can this be considered for subdivision?

    Anything else I need to consider?

    Thanks
     
  2. sanj

    sanj Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,148
    Location:
    Perth
    at first glance yes you csn. main thing to consider is financial viability, ie is it worth it. what have you got on the block atm? assuming there is a house, can it be retained? what is the property worth with the existing hjome on it vs as bare land?
     
  3. Mikasa

    Mikasa Member

    Joined:
    28th Jun, 2016
    Posts:
    9
    Location:
    Perth

    Thanks Sanj

    There is a house on the block and it rented out. not possible to retain the house. have to knock down to cut the land in two, otherwise can only build a granny flat.
    The house and land is probably worth approx. 800k+ range. I don't think the house is worth much because its a 27years old home and single storey 4x2, no pool, flat land.

    around the suburb:

    There is one land smaller size is going for 855k reiwa.com - 2 Burrows Place, Winthrop

    and another one bigger size in a cul-de-sac going for above 1m reiwa.com - 6 Balodis Place, Winthrop