5 Lot Subdivision
2,000m2, LDR Zoning, Carseldine, Brisbane City Council, Queensland
Have you ever tried to negotiate on a development site that is going auction with the aim of getting it under contract and off the market?
Purchasing under auction conditions can be tricky with limited scope to add Special Condition clauses into the contract to afford you both certainty and flexibility in the process.
Jim negotiated on this site for a month prior to it eventually going to auction. He had a complete understanding of the site which gave him the confidence to bid on auction day – despite not knowing exactly how he was going to fund it! Yikes!
Quickly securing finance and Joint Venture partners, Jim was off and running with this project!
The existing McMansion on the site posed a few issues with Council, and despite the intrinsic value of the house they chose to demolish and re-design the subdivision without it. But Jim’s challenges didn’t stop there:
- services in different location to what was shown on the plans
- another re-design needed based on actual location of services
- needed to have a lot with 9m frontage in LDR zone
- internal easement access
- communication between the builder and the project marketer
Come along to this Meetup to hear from Jim how the project finished up and the lessons he has learned throughout his impressive property developing career.