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Description: ATTENTION INVESTORS: THIS MAGNIFICENT TOP OF THE HILL PROPERTY, FLAT, OF 68,900M2 HAS BEEN ZONED BY THE STATE GOVERNMENT AS "PRIORITY DEVELOPMENT AREA"
In clear, the State Government, more precisely the ECONOMIC DEVELOPMENT QUEENSLAND (EDQ), has declared this area as PRIORITY DEVELOPMENT. No size limit applies, with condition that you prove that the block can accomodate the dwelling. Please do not hesitate to call the EDQ for more information, on (07) 3452 7914, and quote the property number "Lot 1 RP115155".
This land is just GORGEOUS, so flat on top of the hill, out of flood, far away from any powerlines, though so close to Yarrabilba.
WHY NOT JOIN A GROUP OF 10 BUYERS, WHERE EVERY ONE OF THE BUYERS WILL HAVE ON TITLE 10% OF THE PROPERTY EACH. YOU NEED TO CONSIDER LETTING THIS MONEY SITS FOR ANYWHERE BETWEEN 5 YEARS AND 10 YEARS, FOR ENOUGH TIME FOR SEWER TO REACH CORNER OF THIS PROPERTY. EACH BUYER WILL PAY AN EXCESS OF OF $500,000 THAT WILL INCLUDE LAND COST PLUS TRANSFER TAX ETC AND LEGAL FEES.
For this exercise in subdividing this block in smaller lots, we will consider 425m2 blocks, a reasonable size for growing families.
Here it is:
68,900m2 less 20% for road access etc = 55,120m2
55,120m2 divided by blocks of 425m2 = 129 blocks of 425m2
A reasonable selling price for 425m2 block in this area would be minimum $320,000+GST, so total turnover of this project is 129 x $320,000 = $42,280,000 + GST
Maximum cost of subdivision per block, including of everything, should not exceed $130,000+GST, that brings total cost of construction to $16,770,000+GST for 129 blocks.
$42,280,000 less subdivision cost $16,770,000 less BANK INTERESTS 2,000,000 = $23,510,000.
SO ROUGHLY PER EACH OWNER OF THE PROPERTY: $2,000,000+ (AFTER SUBDIVISION).
The only catch is that you need to wait for next door neighbour (Lendlease / Stockland) to bring services (water and sewer) to Plunkett Road, next to this block; this can take a few years, or if you have good contacts, much faster. Services are just 1km away or less.
POTENTIAL OWNER 1: Name
POTENTIAL OWNER 2: Name
POTENTIAL OWNER 3: Name
POTENTIAL OWNER 4: Name
POTENTIAL OWNER 5: Name
POTENTIAL OWNER 6: Name
POTENTIAL OWNER 7: Name
POTENTIAL OWNER 8: Name
POTENTIAL OWNER 9: Name
POTENTIAL OWNER 10: Name
For a site visit, please do not hesitate to contact Reg or Merinda Kim, respectively on 0412 976 122 and 0437 643 181.
Disclaimer: The information contained herein has been obtained through sources deemed reliable but cannot be guaranteed as to its accuracy. Any information of special interest should be obtained through independent verification.
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