DUAL OCCUPANCY YIELD BY PROPERTY SUBDIVISION EXPERT
After the Free! intial assessment we will tell you what you can build on your land in greater detail.
A sample development analysis report is shown below.
SITE FEATURES
The site has a slight fall of 300mm towards the rear. There are several trees on the site which I understood were not native and less than 5m high.The trees on the adjoining lot will require an arborist inspection. There are no poles or pits in front of the land which fortunately does not abut a road zone. There are examples of medium density developments in the neighbourhood which comprise of mostly single level dwellings with hipped roofs.
TITLE, LOCATION AND SERVICES
The 730sqm site is serviced by a sewer at the rear.The stormwater pipe is to the rear of the site. No investigation has been made on the LPOD. There are no easements on the land and the title is clear of any restrictions.The land measures 16x45sqm approx. The distance from the back of the original house to the rear boundary is 26m. The site is 800m to the tram stop with a school bustop being 400m away. The closest shopping strip is 1KM away and the nearest school is 600m away.The property is suitable for medium density development.
ZONING AND OVERLAYS
The subject land is zoned General Residential 1 with no variations to the schedule. The site is burdened by a SBO, There are no other overlays affecting the land. The zoning will allow more than two dwellings on the land with a maximum height of 9m. The neighbourhood character is mostly single storey which would imply the maximum height should not exceed a double storey.
EXPERT OPINION
In our opinion Council would support two dwellings at the rear of the existing house. The existing house will require some building modifications to make it comply with both planning and building regulations. The vehicle accessway to the rear is 3m. The proposed dwellings will be double storey, contain 2-3 bedrooms each and have a floor area of 125-135sqm each. For a medium quality finish, theapproximate build cost would be around $370-$420,000 for both units including subdivision costs ( to be verified). Renovations to the existing house is not included in this figure. Your accountant and a Quantity surveyor will advise of depreciation benefits which could be around $42,000-$57,000 over five years,subject to the units areheld as an investment. Council may require an open space contribution.
How much should you pay for this advice? Call me on 0448 170 132 and be pleasantly surprised. Or you can complete your property assessment form today.