When land is being subdivided, then the surveyors create a plan of subdivision for the land or block before a construction. It is the easiest and most preferred way for the architects as well as for the investors. With the plan being block subdivision before building, then the order for executing the construction project is bound to change. The tasks essentially to be completed parallel with the build have to be essentially brought forward and done before the build commences.
The site should be surveyed as per the guidance of the subdivision consultants – so the subdivision surveyors complete all the preliminary drawings so the planning permission can be achieved and plans endorsed. When you start planning on subdivision, under the guidance of the subdivision consultants, then the relevant conditions will be taking a different direction. Hence, the conditions have to be addressed.
The Conditions
Normally, you will have to start working on the conditions together with your hired subdivision consultant, in parallel with the build. Each of these conditions in this strategy will have to be completed before the build. With your goal being to achieve the subdivision approval for independently selling off one of the multiple lots, you need to address the different requirements and conditions relative to the specific site. The handful of these conditions include –
- Parking
- Power pits
- Demolition
- Telecommunications
- Water Approval
- NBN
The existing dwelling should be demolished to get the Statement of Compliance from the Council, which is granted when there is no house setting over the proposed boundary.
Next is the 173 agreement, which is essential, an agreement between the Council and the landowner on what has been approved as the planning permit part, and the landowner will be conducting it. This will be appearing on the title for the current or the new owner to remain aware of the agreement as well as of the relevant restrictions.
The Section 173 Agreement is the established contract between the Council and a landowner placing restrictions on the steps of using the land. Once all the required conditions have been complete, you will receive your Statement of Compliance for use to lodge into the titles office so the registered titles are done for your new subdivision. Once you did acquire the new titles, then you can independently sell off the lots. Rather, it is an opportunity for dual occupancy projects – selling one of the lots and funding the other build.
The Build
The Build could sound simple, but it is complicated and tricky during construction when the dwellings have to be approved. Ideally, the first lot has to be sold off to a happy and prospective investor for undertaking their part of the building parallel with yours. Since the dual occupancy project designs normally own a shared wall somewhere in the construction development, then building together is justified from the financial and practical standpoint.
Subdividing a land need not always be directed for a townhouse development project like the dual occupancy. A project can be approached in client and project-specific ways. That is how, the landowners owning lots suitable for dual occupancy will be helped, since the lots lack access to the needed fund. Hence, the landowners can enter the game. If you are able to afford to fund the build of all the dwellings all by yourself, then the potential to make money is more; ultimately you will have to follow the subdivision consultant’s advice. With each project being different and being treated differently, the factors influencing the projects will have to be addressed.
Australian Business Network 