It is becoming increasingly obvious that with the Gold Coast’s growing population, in the future there will be a shortage of buildable land.
So, what is the solution?
In one of our recent posts on townhouse developments, we discussed the integration of townhouse developments and local commercial centres as a new way to utilise large subdivisions. We found positive benefits of this multi-function community approach are that improved yields and mixes communities and diversity.
On an individual level, the feasibility of turning what was once the typical family ¼ acre block, or a larger single use block, into something more usable and valuable – otherwise termed as ‘subdividing’ could be the answer.
Capitalising on the full potential of your land by demolishing the original house and building a duplex, triplex, quadruplex or more, depending on the size of your block opens chance to create more space, potential sales or rental possibilities.
A recent article in the Gold Coast Bulletin highlighted the fact that subdividing strategically located larger blocks was the only way for the Gold Coast to generate more land to meet the rising housing demand. Land shortages combined with a growing population mean infill subdivision is the only way forward.
Many real estate investment experts agree that this is a proven formula to provide financial security for owners. If you turn your ‘single use’ block into an investment goldmine by subdividing and building luxury duplexes, triplexes or even multiplexes (depending on the size of your block), you can create an investment income multiplied by the number of dwellings on your land.
The following is a recent quote from Hayley Beaton, town planning lead at Place Design Group, Gold Coast:
“The first major update to the GC City Plan has recently progressed to public consultation. Duplexes are accepted development in Medium & High Density Residential Areas, while tri-, quad- or more ‘plexes require Code Assessable Development Approval. Opportunities for ‘plexes in the Low Density Residential zones remain limited. Projects can be considered where the designated Residential Density (RD) accounts for additional dwellings, say meeting the locational provisions, is a 800m2 lot in an RD1 zone, which allows 1 dwelling per 400m2 net site area.”
The two main applications that apply to the redevelopment of land are:
1.ROI (Reconfiguration of Lot)
- Creating new and/or additional lots
- Amalgamating more than one lot
- Realignment/rearrangement of property boundaries
- Dividing land into parts by agreement
- Creating of an easement giving access to a lot
2.CTS (Community Title Scheme, otherwise referred to as Strata Title or Group Title)
- Applies to higher density more complex developments (e.g. apartments and high-rise units) allowing for the inclusion of common areas and facilities within the ‘scheme land.’
Do you own a home on a large block in a popular area that’s increasing in density? Or, are you a savvy developer seeking to capitalise on redeveloping strategically located residential lots? Subdividing is definitely a great way to increase your investment income, capitalising on under-utilised land.
The following is a list of ‘plex projects HHH Architect has completed on the Gold Coast:
- 41 Dolphin Ave
- 55 Dolphin Ave
- 145 Stanhill Drive, Chevron Island
- 67 Stanhill Drive, Chevron Island
- Cronulla Ave, Mermaid Beach
- 23 Norfolk Ave, Budds Beach
- Allamanda Grove / Heeb Street, Bundall
- Azzura Island
HHH Architects specialise in multi-residential development. Depending on the size of your land, whether it’s a corner block or single frontage block, our team of experienced professionals will walk you through the process of assessing eligibility for subdivision, council approvals and the type of plexes best suited to your block to ensure you reap the best ROI.
Contact us now so we can get you on the road to building your investment portfolio today!
Related Tag: Residential Architects Gold Coast