When developing splitter blocks in Brisbane there is a lot of things you need to consider.
After identifying the block, I check the demolition control Precinct (DCP) if the house is built pre 1946 and if the block is on the flood map or any overland flow issues.
I then get the dimensions and run the costing of the project.
The things I look in a splitter block are:
- Cost of the site
- Demolition approval
- Demolition costs
- Services off (sewer and water)
- Location of services on the block
- Any other associated development costs
- Transfer and Legal costs
- Subdivision costs – Civil design, Town planning, public notices, council fees and any council contributions.
- Building construction costs
- Associated site costs (levelling and retaining)
- Marketing on the finish product
If all the figures add up to a profitable project….an educated decision can be made.
Splitters are where we take advantage of old town planning methods. In the 60′s and 70′s around Australia, most residential blocks were subdivided at a ¼ acre or 1000m2. Today Local, State and Federal Governments all know the value of a more dense population. Governments save billions of dollars in infrastructure by encouraging the community to live closer together. They even encourage the development of smaller blocks of land today that are in some cases less than 250m2 hence Splitter blocks are once again becoming popular as investors try to get the most bang out of their buck or you may be already sitting on a goldmine if your existing property can be split.
If you have any question about splitter block, don’t hesitate to call myself at OJ Pippin Home office:
1800 654 633
or email firstname.lastname@example.org