Positively geared and subdivisible, does not come much better than this for the savy investor
We have a property with multiple opportunities for a savvy investor or small developer. This 822m2 (approx) property is situated on a corner, which allows you to subdivide off a lot at 350m2 (approx).
This particular property already has built on it a main residence and a secondary dwelling (cottage). The homes are perfectly located to allow subdivision of the property with only minor works to the homes. Both are of solid construction. It is possible to do the following;
1. Subdivide the lot, retain both the secondary dwelling (cottage) and the main residence. Sell the one you don’t want and keep the change.
2. Subdivide the property and retain the main residence, demolish the cottage, creating a 350m2 (approx) lot and sell as a vacant lot. Approximate end value of the lot $330,000.
3. Subdivide the property and retain the cottage selling the larger vacant 472m2 (approx) lot with an approximate value of $440,000.
4. Demo both properties and create two 409m2 (approx) lots with an approximate end value of $380,000.00 each or $770,000.00 in total.
Some modifications to the homes will be required, however the homes are ideally located on the lot to make any one of these strategies viable. You can really make this work for you by applying any one of these strategies, all require appropriate shire approvals but all suggestions fall within local design codes.
We can manage the subdivision process for you by use of our very experienced contractors.
Interested to know more? Contact Jeremy now on 0422 302 133.
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