thinking outside the box?

hi all,

I've got some land that is close to 1000 sq/m in a regional NSW town of about 8000 people. This town is about 40km from another town of about 50,000 people. This land is about 2 blocks from the train line to Sydney and about 150 metres from a church with a neighbourhood centre. a small cnr shop (yes they still do exist) is about 250 metres away.

The land itself is flat - dead flat, has front and rear access (via a lane that has cars driving up and down). There is also a double sized gate at the rear for access. The front has normal single drive way access.

There are no new homes in the immediate area and most houses are around 80-100 years old. This is "The Sullivans" style neighbourhood.

I'm not in a position to build on this land at the moment can't see myself being able to build a house on it in the next few years - but this land is costing me money. So what are people's thoughts on what i can do with it. If i sell it then i wont get much for it and i would prefer to keep it.

So what can i do with it? I guess that really depends on zoning, but here are a few thoughts i had:

- put a storage busines on it with shipping containers (depends on zoning)
- put some small 1 bedroom transportables on it for low rental incomes (it is a low demographic area )
- donate it to the church and get tax benefits from it.

Any other potential ideas that i could explore?

thanks

 

How much are the outgoings?
Best bet will be to get some income from that land whatever that is to make tax deductible (bad strategy I know) if you want to hold longer

 

outgoing are about 2k a year - in the form of rates (there is actually a soon to be demolished house on it that is not livable).

 

How much is the land worth?

 

Probably about 30k

 

Whats the value here and why do you want to keep it? 2k is relatively expensive for that value of land.

 

Curious why you own it. Did you inherit or buy it with a habitable house that has since become uninhabitable?

 

Is a population of 8000 really a ‘town’?

 

I think I would sell it