Join Australia's most dynamic and respected property investment community

Unit block on one title - strata ??

Discussion in 'Development' started by Anna5524, 31st Aug, 2016.

Tags:
  1. Anna5524

    Anna5524 Member

    Joined:
    31st Aug, 2016
    Posts:
    6
    Location:
    Tas
    Hi Looking for your wisdom around how easy it is in tassie (or in general) to strata a unit block. Looking at a block of 4 - two 2x1 units and two 1x1 at offers over $320000 in regional tas... Rental returns are around 8%.... it's a 1965 build (solid as) but pretty much in original condition. Rents could be increased a lot with some love but obviously strata would see us able to sell one or more and keep one or more possibly. I've no idea about this as only purchased houses before and a unit already under strata. Any help appreciated
     
  2. Ryan_bk

    Ryan_bk Member

    Joined:
    4th May, 2017
    Posts:
    9
    Location:
    Sydney
    I'd be keen to hear thoughts on this process also, as I'm about to commence my first strata title project after previously being involved in land subdivision only.

    My initial due diligence process has involved speaking with the local town planner to understand the process and check if they can foresee any road blocks. If all looks ok I then engage a local land surveyor, run through the project, again tackle any potential issues and gain a full costing including the timeframe. After factoring in any renovation items I can then complete a feasibility and know if the asking price will work, or if I would need to consider negotiating after completing a building and pest.
     
  3. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,446
    Location:
    Sydney or NSW or Australia
    To strata subdivide you will need a DA. This will trigger BCA compliance - fire separation, noise, hose reels, exit lighting, handrails etc.
     
    Ryan_bk, lixas4 and Marg4000 like this.