G’day everybody, just down at our site here in North Perth where we are building three street-front houses on a corner block.
I just wanted to touch on a topic that comes up quite often I see when I go to home opens, and people are asking the selling agent about how a site could be developed, and what’s the zoning, and what does it mean.
And often, I’m finding that the agent’s just really not giving the seller the correct information – sorry, the buyer the correct information – and in this particular case here, this site was actually being advertised as a duplex site, which I found quite interesting.
We decided that we would buy it, because our calculations were this was actually a triplex site.
And as it turns out, it was. We’re able to get a WAPC approval, in conjunction with doing a DA at the same time. And instead of being a duplex site and being an average outcome, this was a triplex site, which is now gonna be a fantastic outcome.
And it’s just one of the unfortunate things that agents are selling properties for owners, and they’re not all over the rules as much as we are as project managers and developers in understanding what can and can’t be done on a site.
We used a variation that’s available through the R Codes to be able to make the triplex happen.
And these are the types of examples that can turn a project from being average, or not great outcomes, into profitable projects.
I guess a little bit of advice is that not to always either believe what you’re told and don’t always believe what you read, because there are some fantastic opportunities out there by just getting the right information and understanding just exactly what can and can’t be done with a particular site.
And it does go both ways, because some sites are advertised quite commonly to be able to achieve development outcomes that actually can’t occur as well, so it can be both positive and negative.
That’s just a little tip for today, just to keep that in mind is that you should always get some advice around buying development sites about what you can and can’t do, because you may well take on a project that can’t achieve the outcomes that you want, or you may let one slip that can give you some greater profits that you didn’t realise that might have been there.
Okay, have a good day.
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