Buying a lot - is corner lot better?

[mattnz]

This diagram should make it clearer. The house on the left in the earlier photo is also mine and is on the corner. The block dimensions are 40x22. The 40m width allows easy access for the new townhouses on the corner block.

 

[mattnz]

I had a feeling it was Gladstone. Great Job! was it in one of the older sububrs?
I did a lot of research on the Gladstone market and was looking at West Gladstone - the numbers stacked up nicely for development.

I heard yesterday that one of the banks has cut back on lending in Gladstone now and will only allow a 50% rent to be taken into consideration for servicing. Not an issue for you, I realise. But an interesting bit of information.

Its in South Gladstone. I also have 2 developments in West Gladstone, 5 townhouses and 6 townhouses. You are correct, it is a great place to develop

Which bank? Sounds very unusual. I know Westpac recently came out with a list, but Gladstone wasn't on it.

 

[Angel]

We are going through Advantedge for finance with Richard Taylor, Qld's007. I wouldnt have bothered asking for finance from a normal bank, but had no problem at all getting an 80% lend.



Hey Matt, can we replace a colourbond garage with a single townhouse on a 695m2 corner lot?

 

[Beijos23]

There's a house either side of the photo. Maybe you have a different idea of corners to me?

See Matt's response "This diagram should make it clearer. The house on the left in the earlier photo is also mine and is on the corner."

As I said - keeping one on corner and subdividing back - hence place to build new townhouses

Hope you've got it figured out now Rooster.