Capalaba land subdivision example to avoid corner plots

In 2021, I had my eye on a property in Capalaba. Ultimately, I didn't consider it further because the site is in a low-medium-density (LMD) area, suitable for units or townhouses. Some municipalities, however, don't support subdivisions in this area due to its high density, and therefore have higher requirements for the subdivision area.

This property, with a total area of 1,494 square meters, is a corner plot with two title deeds, facing 40-meter and 35-meter-wide streets respectively. It sounds quite good, and it seems easy to divide it into three smaller plots.

I saw this property in company records again today, so I'm curious to see what the buyer did in 2021. The buyer has already filed an application with the Council to split the two original titles, effectively creating a 1-for-2 project.

After careful calculation, they purchased the property for $1.6 million, which still required municipal approvals, professional fees, site construction costs, and municipal application fees. In reality, even if they sold the property for $900,000, they might not even recoup their investment. However, in this area, $800,000 is a pretty good house.

I guess that the buyers in 2021 did not have a deep understanding of the relevant rules of Town Planning when doing the calculations, and used a 1 to 3 calculation, which turned into a 1 to 2 calculation, which must have missed the budget.

Whether you're looking for a home to live in, an investment property, or a land development project, the ANP team has the knowledge and resources to help you find the best value and the right property for your needs. If you're looking for a property in a hurry and want to avoid being caught in a trap, PM the ANP team now.