Hamilton Hill WA Rezoning

[Ergophobia]

Got a letter from Cockburn shire today with proposed rezoning for Hamilton hill that will take me from R20 to R30.

My block is 700 m2, any idea what value this should add?

http://files.aussiehome.com/448/Residential_Design_Code_Table.pdf

 

[Rixter]

Means you can put more dwellings on block.

 

[Ergophobia]

Yes I understand that, was wondering how much this would affect the value as is, or is the benefit realized after developing?

 

[Rixter]

Yes I understand that, was wondering how much this would affect the value as is, or is the benefit realized after developing?

You will need to run your DD on comparative property in and around same area. Land component & also land with dwelling already on it to find before and post development comparative values.

 

[sanj]

Yes I understand that, was wondering how much this would affect the value as is, or is the benefit realized after developing?

it is impossible for any of us to tell you the difference in value, all depends on if the house can be retained, shape of block, is it flat etc.

it will definitely increase in value though even as is as it is now a development site whereas before it was only a single residence one

when does the rezoning come into play?

 

[Ergophobia]

when does the rezoning come into play?

Its still in the early stages, draft proposal at the moment, community discussion sessions scheduled for July, no effective date yet.

The project commenced in early 2011 and is planned to be undertaken over an 18 months period. Public consultation will be undertaken from late June to late August 2012 and it is expected that Strategy will be finalised in late 2012.

http://www.cockburn.wa.gov.au/Counc...lton_Hill_Revitalisation_Strategy/default.asp

 

[Jake D]

Its still in the early stages, draft proposal at the moment, community discussion sessions scheduled for July, no effective date yet.


http://www.cockburn.wa.gov.au/Counc...lton_Hill_Revitalisation_Strategy/default.asp

Then you've got plenty of time to think about it. Didn't they propose zoning changes in Balcatta in 2008 or something? and they still haven't come into effect? Please see my signature for a source.

 

[Rixter]

Ergo, if you look at the plot ratio figure for the zoning appropriate to you, you can work out what size (m2) dwelling foot print you are allowed on your lot. This is a huge change to the zoning that the general public have not picked up on as yet.

The basics of it works like this example -

Lot size of 600m
Plot ratio of 0.5

This means 600 x 0.5 = 300m building footprint. Now you may say whats changed? well that 300m building plot size can divided up into multiple dwellings. So instead of the usual 2 x 150 development it could be used as follows.... ie 3 x 100, or 150 + 2 x 75, or 4 x 75m etc etc..

Like I said most havent realised the potential as yet.

I hope this helps.

 

[Ergophobia]

Great help, thanks!

 

[Ergophobia]

Great help, thanks!

In the table I linked in my first post, I can see R35 has a plot ratio of .6, but I can't see the ratio for R30.

Am I looking at an out dated table?

 

[Jake D]

I may be reading it wrong, and I only have a passing interest in planning, but Doesn't "single house or grouped dwelling" mean, you still have to separate the dwellings into survey strata, and if R30 has minimum block size of 270sq.m, you're restricted to 2 dwellings on a 600sq.m block?

 

[Ergophobia]

Ergo, if you look at the plot ratio figure for the zoning appropriate to you, you can work out what size (m2) dwelling foot print you are allowed on your lot. This is a huge change to the zoning that the general public have not picked up on as yet.

I see it now, Table 4

R30 Max Plot Ratio .5 Min open space 45%

So on my 706m2 block I could have a 353m2 footprint and up to 8 44m2 dwellings

 

[Aaron Sice]

I see it now, Table 4

R30 Max Plot Ratio .5 Min open space 45%

So on my 706m2 block I could have a 353m2 footprint and up to 8 44m2 dwellings

rick, you're definitely right. the genral public, including 90% of agents, have no idea what the nov 2011 codes mean, and the new ones coming out will change things again and really mix it up. very exciting time to be in perth property, lots of profit and niches to be carved out over the coming 5 years.

Ergo,

in a survey strata / green title situation, you need a min lot size of 270sqm and an avg of 300. if you want a battleaxe lot without common property, min size is 420sqm.

this is covered in paet 6 of the r codes.

plot ratio is living area only and ONLY used for calculations for multiple dwellings.

this is calculated against part 7 of the r codes.

you could have a 10 storey house if height limits allowed, as long as your open space remains at or above 45% of lot (possibly including any portion of CP).

in other words, with a single house, plot ratio isnt a calculation used.

multiple dwellings have had the density per hectare calculation removed and replaced with plot ratio calculation with reduced parking requirements to increase density without re-writing and re-constitutionalising state planning policy.

 

[Rixter]

rick, you're definitely right. the genral public, including 90% of agents, have no idea what the nov 2011 codes mean, and the new ones coming out will change things again and really mix it up. very exciting time to be in perth property, lots of profit and niches to be carved out over the coming 5 years.

Thus my reason in deciding to Land Bank over the coming years..currently have an EOI on residential development land here in Perth with a substantial 50% discount on todays value and the titles aren't being produced for another 3-5 years.

So a 100% unrelealised profit plus what ever additional CG attained between now & when titles are released - no council or water rates outgoings over that time either.

 

[sanj]

Thus my reason in deciding to Land Bank over the coming years..currently have an EOI on residential development land here in Perth with a substantial 50% discount on todays value and the titles aren't being produced for another 3-5 years.

So a 100% unrelealised profit plus what ever additional CG attained between now & when titles are released - no council or water rates outgoings over that time either.

I'm fairly sure I know the development you're talking about, I must admit I don't know the finer details but was a bit uneasy with some of the things being offered with the other proposal

 

[Rixter]

I'm fairly sure I know the development you're talking about, I must admit I don't know the finer details but was a bit uneasy with some of the things being offered with the other proposal

Uneasy on what things beings offered? Options proposal?

 

[sanj]

Yeah pretty much. I didn't go into details but I believe the option fee would be released immediately unlike deposits held in trust and settlement 5 years away. No security for the buyers whatsoever, anything could happen in that time.

Great idea by developer though

 

[Rixter]

Yeah pretty much. I didn't go into details but I believe the option fee would be released immediately unlike deposits held in trust and settlement 5 years away. No security for the buyers whatsoever, anything could happen in that time.

Great idea by developer though

Yep I didnt take up the option route either. I took up the 50% discount now instead and hold security over the whole estate parcel of land, not just the portion purchased.

Should the development not go ahead and produce my title to the land purchases within 5 years, you have the choice to either have your money repaid in full OR wait a bit longer until a title is produced and you can get that at the price first paid. If you decide that you want your money back, then it will be paid to you within 30 days of your written request

A far better alternative to the original option proposal .

 

[Ergophobia]

hold security over the whole estate parcel of land, not just the portion purchased.

Out of curiosity, how do you do that? Im guessing you put a Lien on the current title?

I imagine that could get messy if there are many investors involved