Join Australia's most dynamic and respected property investment community

Wtb small block in Runcorn knock down rebuild scenario

Discussion in 'General Property Chat' started by Mich, 3rd Oct, 2016.

  1. Mich

    Mich Active Member

    Joined:
    3rd Oct, 2016
    Posts:
    39
    Location:
    Brisbane
    Hi
    I am wanting a small block 300m2 in Runcorn south Brisbane to build a small 2 story house. No land available except for lots of old houses on big blocks which are occasionally being knocked down for multiple rebuilds. How do I find someone (an investor) who is buying land and knocking down the old house to subdivide and sell me half? I can not afford to do this by myself obviously. This is for me to build a house to live in. Any recommendations extremely appreciated please. Thank you.
     
    Sarah T likes this.
  2. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,546
    Location:
    Melbourne, Australia
    Besides putting a post here (which you have), you could consider using Gumtree or talk with the local agents and tell them if they have a purchaser who was contemplating knocking down the place and subdiving that you would be interested in purchasing.

    There is still land available (2 on re.com right now - one being 400m2 the other 600m2) and when the farm off Warrigal Road gets sold there will be a lot more land available.
     
  3. Mich

    Mich Active Member

    Joined:
    3rd Oct, 2016
    Posts:
    39
    Location:
    Brisbane
    Thanks for the reply. The 2 on realestate.com have been sold a while ago and they have not taken the ad down as I have enquired about it to all people concerned. Do you know when the farm is being sold (I knew nothing of it) as that location would be perfect for me to walk to train to commute to work! I have mentioned it to a few agents but I will try gumtree. Thank you
     
  4. Angel

    Angel Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,279
    Location:
    Paradise, Brisbane
    Why Runcorn specifically? Would another suburb suffice
     
  5. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,546
    Location:
    Melbourne, Australia
    No worries, sorry I didn't know they were already sold as it isn't something I had been looking for.

    When will the farm sell that is the multi million dollar question... It is on very valuable land and only few developers could afford to take on such a project, I would struggle to see the farm there in 30 years, I would give it 10-20 years most likely but who knows it could be up for sale this year or never.

    There is two big blocks in Kuraby and heard from one of the agents who knows the guy and will likely get him to sell his one that he is contact by agents on a weekly basis to sell but he has no interest in selling even though he would get multimillions for his land.

    Below is the blocks I am talking about.

    upload_2016-10-3_15-47-56.png
     
  6. Mich

    Mich Active Member

    Joined:
    3rd Oct, 2016
    Posts:
    39
    Location:
    Brisbane
    Hi. I have searched all surrounding areas over last 12 months and I need it for train and also walk to shops there. I just really like the suburb.
     
  7. Mich

    Mich Active Member

    Joined:
    3rd Oct, 2016
    Posts:
    39
    Location:
    Brisbane
    Thanks. Thats a hilly side of Kuraby to build on but also far too big for me lol. One day he wil profit from selling it. Ive done some research to see last year council approved 252 residential sites and a townhouse complex on warrigal road at warrigal farms. How would I find out who the developer would be??
     
  8. Mich

    Mich Active Member

    Joined:
    3rd Oct, 2016
    Posts:
    39
    Location:
    Brisbane
    So far I have found out that Bligh Tanner is the civil and environmental engineers and Wolter consulting group is the project partner but I get to a dead end then. Could be due to my lack of experience and knowledge though.
     
  9. Ed Barton

    Ed Barton Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,118
    Location:
    Brisbane
    Could a, should a, would a - that land's been rumoured, up for sale for decades. Although I read in the paper it's finally been flogged off for housing. Likely, a few years to get BCC approval.
     
  10. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,546
    Location:
    Melbourne, Australia
    There is an application in at council right now for 156 townhouses at this site on Beenleigh road and they want to start construction 1st Qtr 2017 and a further 30 & 24 townhouses also wanting to start construction in the next six months the 54 townhouses have been approved..

    upload_2016-10-3_17-16-7.png
     
  11. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,546
    Location:
    Melbourne, Australia
    You can see who the developer is by looking at the application but sometimes it can be shell companies then good luck!

    I wasn't suggesting buying those huge blocks however there is more land up in Kuraby if you wanted to be on the other side of the freeway.
     
  12. Mich

    Mich Active Member

    Joined:
    3rd Oct, 2016
    Posts:
    39
    Location:
    Brisbane
    BCC approved it all last year. The application was put in by Robery Buyers the owner of Warrigal Farm.
     
  13. Mich

    Mich Active Member

    Joined:
    3rd Oct, 2016
    Posts:
    39
    Location:
    Brisbane
    Thanks. I have considered Kuraby but truely want to sit and wait for an opportunity in Runcorn. Robert Buyers the owner of Warrigal farms did the application to BCC and it got approved last year. Im at a stand still now on finding out who the developer is. Agghh so frustrating!!
     
  14. Richard Williams

    Richard Williams Buyers Agent - Southeast QLD Business Member

    Joined:
    9th Aug, 2015
    Posts:
    471
    Location:
    Loganholme, Brisbane
    You could engage a buyers agent who specialises in that area, they should have good connections with agents in the suburb and might be able to get you something before it hits the market.
     
  15. RetireRich101

    RetireRich101 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,294
    Location:
    Sydney
    Is there any reason you couldn't do the reverse? you might make some 50-100k profit in selling off the vacant land.
    Runcorn falls under BCC council. You need 800m2 with 20m frontage to subdivide.
    However, you can get the 300m2 in the following scenarios:
    1. 200m from a 2000m2 shop front.
    2. LMR lot that is copped up 180-260m2
    3. emerging large lot subdivision
    The concern with Runcorn is it is almost impossible to find any of the above.
     
  16. dabbler

    dabbler Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,665
    Location:
    Sid en e - olympic city
    This seems to happen all the time elsewhere, so just watch the market, anytime a large block sells with an older house, ask agent if buyer wants to split and sell land.

    Talk to all agents in area and let them know what your looking for.

    If that is what you really want, may have to run around and chase it.
     
  17. Mich

    Mich Active Member

    Joined:
    3rd Oct, 2016
    Posts:
    39
    Location:
    Brisbane
    Feel free to find out for me if I can view the blocks and prices and secure one before it hits the market Richard. I'll be more than happy to see what you come up with.
     
  18. Mich

    Mich Active Member

    Joined:
    3rd Oct, 2016
    Posts:
    39
    Location:
    Brisbane
    Dabbler that is exactly what I think too- hence me joining this very helpful forum and chatting to you lovely folk. Fingers crossed.
     
  19. Mich

    Mich Active Member

    Joined:
    3rd Oct, 2016
    Posts:
    39
    Location:
    Brisbane
    Retire rich unfortunately I do not have the funds to buy the entire block and subdivide however I am now seeing BCC application approved for Warrigal farm to provide 252 blocks. Now my mission is to find out who the developer is lol as it seems the chinese folk in the area buy up very quickly which is why I have been left out on so many opportunities. Hopefully I can find out before the blocks go on the market- now wouldnt that be nice!! Thanks for your suggestion though. I did not know you had to have 800m2 before you can subdivide.
     
  20. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,546
    Location:
    Melbourne, Australia
    Sent PM, seems like they were going to start construction this year but it has been deferred.
     
    Mich likes this.