Splitting the Difference: Turning 3 Blocks into 6 Lots and $600K Profit in Coopers Plains
(Anastasiya Stolbova)6 Lots from 3 Splitter Blocks | 3,000sqm across 3 Properties | Coopers Plains, Brisbane | Purchased for $3.6MA textbook splitter strategy — turning three low-density residential blocks into six individual saleable lots
~$600K profit at 15% POC — a solid return despite a stack of unexpected obstacles
Buried asbestos, a stubborn tenant and a QCAT scare — how experience and persistence got the deal across the line
Six years into her property development journey,
Anastasiya Stolbova took on a classic splitter project in Coopers Plains: three low-density residential blocks totalling 3,000sqm, sourced through a buyers agent and purchased for $3.6 million.
The strategy was straightforward—turn three properties into six individual saleable lots—but the execution was anything but. The project involved commercial funding through La Trobe, simultaneous settlements, free house removals, and an unexpected windfall when a post-survey re-measure increased the size—and value—of several lots.
Along the way came plenty of challenges: valuation delays, buried asbestos discovered during demolition, slow lot sales, and a tenant who refused to vacate, pushing the project to the brink of a QCAT application.
Despite the setbacks, the development delivered approximately $600,000 profit at around 15% POC.
Join us as Anastasiya shares exactly how the project unfolded, the decisions that made the biggest difference, the setbacks that nearly derailed the deal, and the lessons now being applied to her next subdivision project—a 1-into-4 development in Capalaba.
What the Session Will Cover
- Finding a multi-lot splitter opportunity through a buyers agent
- Structuring commercial funding with a prepaid interest facility and investor capital
- Managing simultaneous settlements, house removals and site clearing across three properties
- Dealing with unexpected challenges, including buried asbestos, valuation delays and a non-vacating tenant
- How a post-survey re-measure uncovered additional value
- The numbers behind the project, including purchase price, sales strategy and achieving approximately 15% POC
- Applying the lessons learned to the next project—a 1-into-4 subdivision in Capalaba