What to look for in a development site
There are many issues that you need to consider when looking for a development/subdivision potential site. It is important to ensure you undertake proper investigations into the site before you buy. I have seen many people buy properties based on advertising claims and have been quite disappointed that they didn’t get what they expected.
Here are just a few issues to consider (but not limited too):
Government requirements:
- Zoning
- Density or R-Code (minimum and average)
- Size
- Plot Ratio
- Frontage
- Carparking
- Setbacks
- Demolition
- Bushfire Prone Areas
- Flood Prone Areas
- Heritage & Conservation
- Environmental Issues
- Fees and contributions (POS or Developers)
- Other issues associated with policies, design requirement etc.
Drivers of the property market:
- Supply and demand (scarcity factor)
- Zoning changes
- Desirable facilities
- Infrastructure
- Demographics
- Population trends
- Employment trends
- Gentrification
- Past performance
- Property cycle
Site appraisal:
- Location
- Topography
- Soil
- Orientation
- Utilities
- Access to services
- Easements
- Covenants
- Accessibility
- Noise
- Roads
- Significant Trees
- Street Character
- Similar Developments
- Distance to Desirable Amenities
- Distance to Facilities
- Distance to Transport
- Other
If you know of any more let me know!
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