VIC Thoughts on these Corio / Norlane Properties

All three are well located and decent enough to rent out as they are. But if I were you I'd focus on securing the Kosciusko Avenue property. For the simple reason it's the largest out of the three.

Good luck.

 

To make it easier for subdivision moving forward the position of the existing house on the block will be crucial. The best scenario would be for the existing house to sit in front of the block and has enough side access so all you need to do is to do a battleaxe of the rear block, without having to move/knock down the existing dwelling to keep cashflow going.

Looking at the 3 you've put forward, 4 Franklin's house is smack bang in middle of the block so that could make subdivision difficult down the track. 12 Talpa and 20 Kosciusko both are reasonable in terms of house location to the block so they could be good candidates. For 20 Kosciusko you may need to sacrifice the entertaining area to give the rear block a bit more breathing space. Keep in mind subdivision are all STCA so may be worthwhile giving Geelong council a call as well to confirm as part of feasibility study.

Apart from bigger block as Air_bender mentioned, 20 Kosciusko also has more scope for value add - old kitchen, old bathroom, these are all things that you can potentially manufacture equity down the line. So in my opinion I do like this one better than 12 Talpa, but yea agree all 3 are decent properties to hold for long term.

Cheers,
David

 

Have you seen Section 32 for any of them? Any easement, covenant? Those things can have a serious impact on subdivision potential of the blocks. For example, if there is easement accross the back of 20 Kosciusko Ave and depends on how wide it is, you may not have much land to build the rear unit. So instead of 3x2x2, you may need to settle with a 3x1x1.

 

Hi

12 Talpa Crescent is not in the "SBO" overlay so is not subject to flooding. 50% of 4 Franklyn (the rear half) is subject to flooding and all of 20 Kosciusko is subject to flooding.

You need to speak to the local council and find out how having a property located in the "SBO" overlay effects the potential for subdivision.

More info here:

Special Building Overlay (SBO)

Subdivision and build costs could be more costly or may not be possible at all.

Regards,

alicudi

 

This is good to see, there was some 'umming and ahhring' about this proposal but they've turned the first sod now and claim that the Northern health hub will be completed in about a year.

No Cookies | Geelong Advertiser


CONSTRUCTION has officially begun on the $33 million Barwon Health North facility due to be complete mid-next year.

Health Minister Jill Hennessy joined Member for Lara John Eren to see the first sod turned on the Norlane site.

The health hub will comprise an urgent care centre, medical imaging facilities, pathology, pharmacy, consulting suites and renal dialysis services.

More than 130 construction jobs have been created as a result of the project.

The urgent care offering will operate beyond normal business hours and on weekends, and will not require an appointment — treating illness and injuries such as sprains, cuts, and minor infections on the spot.

The new facility, with its range of “walk in” services, will play an important role in easing the strain on Geelong Hospital’s emergency department.

The Corio Community Health Centre, which is also run by Barwon Health, will continue to operate and complement the range of services available at BHN.

Ms Hennessy said the new purpose-built facility reflected the growing needs of the northern suburbs.

“It means more Geelong families will have better and quicker access to the very best and safest healthcare in the very best facilities, right on their doorstep,” she said.

Barwon Health CEO Professor Ruth Salom said the organisation had been meeting with a committee of consumers since 2014 to seek community feedback on the design and service offering.

“For a long time, families in Geelong’s northern suburbs have needed access to more healthcare services closer to home, so we are thrilled to begin this project and bridge that gap,” she said.

“Taking your child to paediatric specialists, such as audiologists and speech pathologists, will no longer require a trip across town.”

BHN will form part of the Northern Arts, Recreation and Community (ARC) Health and Wellbeing Hub, alongside the Waterworld Aquatic Centre, Corio Library and Centenary Hall.


Not sure if reading this is an issue, some people claim there are paywalls with some news sites. But at least it makes health services now very close for people in the 3214 postcode, and may be something that might be an advantage for some who may look to rent out this way. Or even buy to live for that matter.

In any case, i've now copied the article anyway.

 

First-home buyers, affordable Corio, investors still a big factor but there interest has eased, Ray White, Lara, Maddison Boothroyd, Kelly Kules

Over a week old - But still a great read.