Wanneroo rezoning gazetted.

So you would have paid around $200k or lower?
The downturn will pass and you have a nice block.
You could get your DA done now (lasts 2 yrs) so that you're ready to go when the signs of upswing are happening.
Will you keep or sell or part keep and part sell?

 

Have done it no less than 11 times now.

The min 180sqm as of 2010 really helps - most end up being 200sqm front, 180sqm middle, 200sqm rear (usually about 10.3-10.4m wide). The reduced CP setbacks for the 180sqm lots help a great deal.

 

actually - this doesn't help - the permanent parking of a wheeled vehicle - open or not - is removed from open space calcs.

now, if you qualify for a single carbay under your parking table, that's a different thing altogether.

 

point was not what you can do, but how you can stage the development to minimise disruption and maintain yield.

 

Got a design example @Aaron Sice , I'm curious how it would fit. When these were proposed to be R60 I could see how it could fit as the 2m street front setback would work well.

 

I thought you still had to achieve an average of 220m2 though, and 180m2 was just the minimum?

 

220sqm includes share of CP. Min does not

 

I have 11 of them.

From cheapie nasty singles and lofts to two storey 4x2s.

Because it's survey strata you can use the driveway for averaging, SAT precedent says so.

 

Personally for me I'll be waiting it out. I'm only doing a hold strategy and rental vacancy rates in this suburb are terrible at the moment. I'll be waiting for this market to turn around before I ever look into building more rentals.

 

The property is currently a rental. I reckon I would continue to rent it out until the market turns and then sell. Im unlikely to do a development myself. Of course the big issue could be if we all try selling our blocks at the same and flood the market. New build 3x2 in Nollamara are quite cheap right now due to so many being built.

 

Yeah but nah but yeah but......small homes in Nollaz' weren't good value none anyhoo, coz Naber can't use the tram none's what I think.

 

Wonder what this will go for, agent hasn't mentioned it is now R20/R60. $400k seems ok to me but who knows.

19 Dartford Crescent Marangaroo WA 6064 - Residential Land for Sale #201252701 - realestate.com.au

 

the problem with doing 3 on 692sqm is that you're gonna end up with 2 storey product if you want 3x2s and I don't see the area supporting double storey construction costs atm.

this is one of those times that those who paid a small amount extra to get another 30-50 sqm will find themselves making significantly more than someone with 692 sqm, assuming both bought at same time and developed now

 

R20/R60 can sometimes make sense at 692 *more* than R20/R40 because of the reduced setbacks of 2m vs 4m. On a 18-20m wide block that is another 36 to 40sqm to play tetris on.

You also get reduced open space and courtyards but I don't feel they help as they reduce the functionality and liveability of the sites. However they may assist with the tetris game.

With the rise in acceptance of the soft top (framed upper storey) companies and competitive pricing it would be interesting to see how much a two storey triplex would cost. A fully timber framed two storey triplex on 690sqm is being costed this week and I'm eager to see how much that will cost. The open space of the concept is *******' huge with all bedrooms upstairs and just living downstairs.

And if anyone can afford it (and the feaso stacks up) the R20/R60 692sqm blocks are quadruplexes. Though physically it would be a challenge depending on the shape of the blocks and the desired outcome - might be a good one to go 2 x 2s instead of 3 x 2s.

 

The problem is not also what you can fit on the site but also the values are very low for this area

 

Absolutely. No point playing Tetris if the end values aren't there.

 

Just checked and the sewer is running along the back about 1m-1.5m into the block anyway.

Still, curious to see what it goes for and if anyone tries anything. Not too far from mine so would be good to see some sales figures with new zoning (despite it not being mentioned in the ad).

Edit - no water meter either.

 

God I wouldn't be putting R60 product in Koondoola or the 'wheen . It's bad enough getting good tenants there as it is - imagine going for a smaller 2 storey product with reduced open space? Man I can see the couches and car bodies piling up already.

 

regardless of the above I just don't see end values supporting double story construction AND good margins

 

...or yield.

who is going to pay top dollar in a lower socio-economic area for a small two storey with no yard?