This week is for property investors considering subdivision in Queensland. Recently I have been sourcing a few subdivision development sites for a few of my investor clients, and I have a good understanding of what’s involved in terms of costs and timeframes.
Subdivision is a great way to create immediate equity in property. And there’s certainly some property in Queensland, those larger blocks of land that are certainly open for subdivision.
The first thing I would recommend is you need to have some very specific tools to analyse the site. Otherwise, you can spend a lot of time and a lot of resources looking at properties that aren’t suitable.
There are a lot of things you need to tick off and get an idea of what’s the potential value of the site.
You also need to determine the potential usage or maximum usage of the site before you go that next step in engaging engineers and quantity surveyors and draftsmen, etc.
Before purchasing a subdivision in Queensland!
The first thing you need to do if you’re looking at a subdivision in Queensland is to run a few map overlays over the property itself, making sure it’s not flood affected, if it has any bushfire ratings, overhead power lines etc.
Drainage and sloping sites can be a lot more expensive to develop, and easements on the site can restrict the building as well.
It’s not just a simple matter of finding a block of land that’s big enough and developing it. You need to understand what the issues will be, and then you need to be able to do a mini feasibility study and work out the figures, and take all those other costs into consideration.
Subdivision is a great strategy, but I would recommend that you need to have some experience or use specialists that understand how that process works.
If you are thinking of a subdivision in Queensland feel free to reach out to me by clicking here to book a time in my calendar so we can chat further.
Regards,
Geoff Tomkins
Buyers Advocate
PH: 0404 852 781
