Townhouse development sites Brisbane South

I thought I would share a couple of sites with you all to get some feedback.

There are 9 house next to each other for sale all asking for $720k ready to develop for each house. I've posted the links to two below the rest are the same.

However there is an empty block just around the corner which already has the DA for only $450k, which I think you could still knock of a decent chunk of that price as it has been listed for some time now. Why the big difference in price? Obviously it's a smaller block being 800m2 while the others are 1300m2 but does that justify the $300k difference in price.

Also it has been approved for 2 bedroom townhouses. Could you lodge another DA instead for 3 bedroom townhouses? Obviously you can not fit as many in but a 2 bedroom townhouse I just don't see being viable unless you are in the cbd and surrounding areas. I have kept my eye on the block for some time now and have someone that I could do a jv with, and sit on it for some time before we develop it.

Any thoughts feedback criticism always welcome


$450k
2 Nandala drive Tanah Merah Qld 4128 2 Nandala drive Tanah Merah Qld 4128 - House for Sale #123181046 - realestate.com.au

$725k
127 Jalan Street Tanah Merah Qld 4128 127 Jalan Street Tanah Merah Qld 4128 - House for Sale #124940502 - realestate.com.au

$725k
131 Jalan Street Tanah Merah Qld 4128 131 Jalan Street Tanah Merah Qld 4128 - House for Sale #124940490 - realestate.com.au

 

800m2 vs nearly 2000m2, the latter having houses.

 

No they are 1300m2 not 2000m2. And yes they do ha e houses on their but I can't see the value of an extra $300k, as the rent gAined from those properties will not outweigh the costs of demolishing And lodging DA's. I gues maybe for those who wish to sit on it a while and some rental income maybe??

 

The ad says that the 1300sqm is part of a 3900sqm amalgamation, so my guess is that three properties are priced to sell together to give a large development site.
Marg

 

There's actually 9 properties all together but I see what you are saying. They are hoping to sell to one developer the whole lot. Will keep an eye on it and see what happens with them. I think it will take a while to find somebody to purchase them all.

 

M1

 

Is that why it is valued higher? Interesting thanks.

You are better of buying just one and hopefully one day the government purchases it of you when they decide to extend the M1.

 

I don't think there is a profit in that, is there?

 

Hoping to be resumed for expanded highway doesn't seem to be a prudent strategy.
Not to sure if investing that close is the most prudent deployment of investing funds either.