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The rewards of subdividing property can be considerable. The opportunity to create a new property to fulfil the specific demands of the market can bring high returns very quickly. This initial profit yield can then be reinvested to boost your investment portfolio, or you may choose to keep the new block and build on it.
More often than not, property subdivision can be time-consuming, stressful, and full of unexpected twists and turns that can impact on your capacity to maximise your returns, particularly if you’re inexperienced, time-poor or impatient.
Success requires a combination of experienced project management skills, exceptional patience and attention to detail, and the ability to navigate through a diverse range of issues, including urban planning, storm water drainage or even nosey neighbours.
The good news is that Property Wizards has been helping many ‘ordinary, hardworking’ Australians to create substantial wealth through clever, well planned real estate subdivision projects.
Our associated subdivision specialists can handle everything involved in successfully managing a subdivision project in Perth, WA. This includes real estate subdivision and amalgamations for Green Title, Survey Strata, Vacant Strata, Built Strata and conversion of restrictive older strata titles to survey strata titles.
Here’s what we can do:
Looking to subdivide in Perth? For a small fee our specialist subdivision associates will assess the zoning, minimum land requirements, block size and site layout and advise you on the subdivision potential of the property, using experience and knowledge of development sites and the local market.
A complete site assessment is done to consider the likely demolition cost, services and site costs and those unusual costs that an inexperienced person may not allow for, which can wipe out all the wealth gain on a project. The discretionary powers of the council, prohibited uses, as well as any easements and potential restrictions on subdivision rights are all considered.
You will receive a cost estimate for the whole subdivision project.
It’s important to have enough cash available to complete the entire subdivision and a typical cost may be anything from $60,000 to $80,000. If you do not have the cash available we would need to assess if you are able to borrow sufficient to complete the subdivision.
Your subdivision specialist will consult with the local shire and the WA Planning Commission who will ultimately issue approval for your plans. The planning authorities have restrictions governing the subdivision of land, while every Council has their own unique set of requirements that need to be adhered to in order for the subdivision to proceed.
Your site is surveyed by a surveyor and a draft real estate subdivision plan is drawn for your site.
Sometimes a development application may be needed as well, in order to get your plans approved. If this is the case, designers are consulted to have designs drawn up for your site.
Your subdivision specialist acts on your behalf to submit your applications and negotiate with the Planning Commission and the Council. This process can take several months so you need to have patience. However, due to vast experience in subdivisions and dealing with the authorities, unnecessary delays are avoided that an inexperienced person is likely to encounter.
Once your subdivision has been conditionally approved, your subdivision specialist will have all the conditions put on the approval carried out. This includes arranging demolition, clearing land, and installing services such as power and sewerage. Hurdles along the way are resolved, whether they relate to the site or to extra requirements by the authorities.
Once all conditions are cleared, it’s time for the final survey and applications for titles. When the titles are issued the subdivision project is complete and you are ready to continue with your chosen property plans.
Zoning classifications within suburbs are constantly being reviewed by councils as the authorities look for ways to cope with Perth’s fast-growing population. Through our experience and knowledge we can advise on the suburbs that are ‘penciled in’ for rezoning. From an investment point of view, such knowledge can be crucial.
Considering subdivision? Perth investors in need of advice are encouraged to contact the experienced team at Property Wizards.
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