Here is an opportunity not to be missed! In a nutshell, we have 3,506m2 of land with great development potential. The current dwelling is dual key (dual living), offering a fantastic rental return; furthermore the current owners would be interested in renting the property back from the purchaser.
The house is currently set up as dual living. On the left wing is a 3 bedroom, 2 bathroom house, on the right is a 1 bedroom self-contained unit, joined in the middle by a massive double carport. There is also a detached shed that is a massive 12m x 6m with double roller doors.
Zoning is for Low Density development, below is information on the various ways it can be developed. The easiest and most straight forward would be to subdivide into 7x 500m2 blocks of land. The requirement smallest block size you could have is 350m2, although you need an average lot size of 500m2.
Subdividing into blocks:
- Minimum average land size for each subdivided block would be 500m2
- Smallest block size would be 350m2
- Potential to fit 7 x 500m2 blocks (7x 500m2= 3,500m2)
- Each block needs to average 500m2, so a 350m2 block would require a 650m2 to average out to 500m2.
- The maximum amount of townhouses able to be built are “20 Equivalent Dwellings” per hectare of land.
- 1 bed townhouse = 0.5 “Equivalent Dwellings”
- 2 bed townhouse = 0.7 “Equivalent Dwellings”
- 3 bed townhouse = 1 “Equivalent Dwellings”
- 1 “Equivalent Dwellings” per 500m2 of land
- Land is 0.35 Hectares = 3,500m2 = 7 “Equivalent Dwellings”
- Townhouses or subdividing is classed as “code assessable”. Logan City Council has already zoned the property for this type of development, so getting council approvals would be very easy according to Logan City Council town planning.
- You could also keep the existing property and build another dwelling or dual living / dual key property without subdividing as it is large enough. Although when it comes to selling, you can only sell as one.
- Also, you can subdivide and do the same as above, and then sell off separately.
- Or you can subdivide, have 2x empty blocks and build a dual key / dual living on each.
- In addition, you can strata title the 2x dual keys and sell off as 4x properties.
For further information or to arrange an inspection, please don’t hesitate to get in touch.