Wanneroo rezoning gazetted.

If anybody can get 3 on 692m2 @Westminster can

 

Keep us all informed on this. I for one would be interested to see how it works out.

 

Hi all,

I have a flat 730m2 in Marangaroo which has been rezoned R40. What exactly are the set back rules? I can't find the info on the city of Wanneroo website...not sure what to do with the place at this stage. I called Profesioanls in Balajura as they seem to be the area experts, they said an increase of values won't be like flicking on a switch it will be a gradual effect but who knows in this crappy market. Looking at Craigie which got rezoned a few months prior it doesn't appear to have done much at all yet.

 

Read the r codes on dept of planning website. I think an average setback of 4m from memory

 

P58 of the Residential Design Codes of WA is your best friend. The answer is 4m but it is more for garages - the 4m is just for the dwelling

Residential design codes

 

Great, so does this mean you can hypothetically gain a potential extra 150m2 of land ?? Clearly I have a lot more reading to do...

 

Huh? You've lost me.
You have 730sqm and assuming you may have an 18m frontage that means you 'lose' 4 x 18 = 72sqm you can't build on but you can fence it to create a front courtyard.

 

I had it in my head that block size was calculated from the letter box back. So if I had 730m2 I would now get to claim from 4m from the street to the back of the block instead of the letterbox ...I'm sure I make no sense right now. I ordered the book 'Australian residential property development for investors' to educate myself but clearly by the other posts it's doesn't seem feasible to do much at all! :/

 

@Scaphella
Ah no it doesn't work like that but I understand why you think that. Street setback is not from the street - I know it's silly isn't it!?! Street setback is from the property boundary/letter box spot. So dwelling walls need to be 4m behind that.
You have a good sized block though at 730sqm - bigger than many of the 692sqm blocks in Girrawheen/Koondoola. At 730sqm you can build three single storey 3 x 2 with double garages if it's feasible.

 

Also an average of 4m, not just 4m; so if you have a 2m setback in a section, you have to compensate by providing the same area at 6m setback.

Unless you're proposing apartment style development (which is allowed at this zoning), then there's no provision for averaging - so just 4m minimum.

 

And so it begins! Wonder what they will get ...

31 Mereworth Way Marangaroo WA 6064 - House for Sale #122860474 - realestate.com.au

 

they'll probably find someone silly enough to pay over 500k on it, expect to see crap villas a drunk monkey could have designed better and a desperate seller in a couple of years trying to flog them off

 

Do you think a potential developer would be more interested if he/she could snap up two blocks next to each other instead of just the one?

 

Depends on if 2 blocks means 7 villas vs 3 villas on each

Also, the higher purchase price can sometimes mwan less competition from firsr time developers who are more likely to pay over the odds.

Certainly if combining the 2 blocks means an extra site there would be very good chsnce for greater selling price for the seller than 2 individual sites

 

I would do cartwheels if that went for over $500k, and would most likely cash out of my place up the road.

Realistically I would be surprised if it goes for more than $470-$480k.

 

Long time lurker, first time poster. I've got a property in girrawheen rezoned to r60 at 688sqm and was thinking of developing it. Have actually received a few flyers in the mail regarding developing it but was wondering if anyone might have any contacts to talk to? I trust the gurus on propertychat more than some random person on a flyer I'm thinking of demolishing the current property and building 3 3x2 villas to hold long term and rent out, would appreciate any suggestions or comments.

 

3 villas in 688sqm would produce tiny villas.

Just because the zoning allows for subdivision, the numbers and returns may not stack up for the area.

 

Could do one of them 2 storey eg the front one if it has a view which leaves more land for 2 more decent size single storey. I'm not sure apartments will stack up here

 

Lot sizes are the same though.

R60 is an average of 150 sqm, min 120sqm. So it's likely four smaller 3x2 two storey homes.

But I don't know if that product is tested yet. I'd be very happy to do up a quick yield feasibility for you. Can also put you in touch with a very competitive unit builder.

Can also do three lots between 180-200sqm each if you like. Might be tight 3x2 single storeys but is possible.

Will PM you for the address if you want to.

 

That would be great, thanks! I know most developers would be looking at a minimum of 20% ROE but since I'm looking at holding long term, I figured it might be feasible if the final rental yield is decent. Will PM you with address.