why this duplex site is hard to sell...

Discussion in 'Development' started by Declan1212, 28th Jul, 2021.

Join Australia's most dynamic and respected property investment community
  1. Declan1212

    Declan1212 Well-Known Member

    Joined:
    24th Jul, 2021
    Posts:
    52
    Location:
    Sydney
  2. standtall

    standtall Well-Known Member

    Joined:
    19th Oct, 2015
    Posts:
    2,701
    Location:
    Sydney, NSW
    Price expectations are almost always the case if a property isn't selling.
     
  3. Declan1212

    Declan1212 Well-Known Member

    Joined:
    24th Jul, 2021
    Posts:
    52
    Location:
    Sydney
    There is a easement near corner. Is this the reason?
     

    Attached Files:

  4. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,103
    Location:
    Sydney or NSW or Australia
    No, it's the other sewer pipe going right through the site affecting how far back you can build without having to concrete encase the sewer.
     
    SmileSydney and Stoffo like this.
  5. Declan1212

    Declan1212 Well-Known Member

    Joined:
    24th Jul, 2021
    Posts:
    52
    Location:
    Sydney
    Thanks Scott. Good to know
     
  6. gach2

    gach2 Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    1,895
    Location:
    sydney
    on a 1.5mil site encasing the sewer has to be the last thing to worry about.

    Wondering if the site slopes to the rear and stormwater management might be pita

    Also no idea what the market price is so maybe that
     
  7. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,103
    Location:
    Sydney or NSW or Australia
    The area slopes from left to right (Parramatta River to left/Victoria Rid hill on right).
     
  8. Kramerica12

    Kramerica12 Well-Known Member

    Joined:
    13th Oct, 2019
    Posts:
    52
    Location:
    sydney
    It doesn't look like a very good location either. Duplex sites in far better locations within Rydalmere have sold for ~$1.6m recently. So the $1.6m asking price here seems too high
     
  9. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,103
    Location:
    Sydney or NSW or Australia
    It's an out of area agency as well
     
  10. skater

    skater Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    10,222
    Location:
    Sydney? Gold Coast?
    Another reason not to use an out of area agency. They often get it wrong.
     
  11. Hetty

    Hetty Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    680
    Location:
    NSW
    I lived on the other side of Silverwater Rd in Ermington. Though we enjoyed living there, there’s mangroves in the river and the area is swarming with mosquitos in summer. The traffic is getting worse with all the apartments down the road (Melrose Park) and they’re putting more up. It’s a nightmare to get through West Ryde. Also both Rydalmere and Ermington have reputations as being a bit rough, though they’re getting better. Anyway I’m sure it’s because of the reasons above but just more to add to it.
     
  12. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,103
    Location:
    Sydney or NSW or Australia
    You should also be aware of the Draft Parramatta Local Environmental Plan

    This is being introduced to align the previously Hornsby & Auburn LGA areas affected by the realignment of council boundaries several years ago.