This week, 9 News featured a story on the growing number of Queenslanders cashing in on the real estate boom through splitter block deals in Brisbane.
The news article featured a bayside property we recently sourced for one of our clients.
The 809m² property was purchased ‘off market’ and already in two lots on two separate titles. The existing home will be demolished and the 2 lots sold separately at an estimated total profit of potentially $100,000.
Here are our top 5 tips for getting a great splitter block deal in Brisbane:
1. Lot Sizes
Check with the city council, your town planner or surveyor that the site is on two regular lots sizes. The street frontage should be a minimum of 20 meters wide so two 10-meter wide blocks could be created.
2. Demolition Control Precincts
Check city council interactive mapping zoning for overlays. Which indicate demolition control precincts such as heritage listed or character area:
- Pre 1911 building site
- Traditional Building Character
- Pre 1946 build
Check the pre 1946 aerial photography mapping to see if the house existed prior to this period to indicate if it might be protected.
This information will indicate if you can remove the house or need to retain the house. Depending on the siting of the house on the land. A protected house could also be shifted across or built beside/behind.
3. Check Existing Services
You will need to check where the existing services are such as water, sewer, storm water and power and ensure they are close to the block for utility connection.
We recommend using a service such as Dial Before You Dig. This one is free of charge to use and you receive the reports via email within 5 minutes.
4. Contours and Flood Issues
The Brisbane City Council interactive mapping will identify the features of the site such as land contours and the existing flood zones.
For properties affected by flood, the council website provide flood maps to indicate the location and flood reports with detailed flood level information.
5. Additional Costs
A detailed feasibility study should include all the potential additional costs for a splitter block:
- Connection of services including water and sewer
- Second Title uplift
- Building Approvals with the council if building new dwellings
- Demolition or house removal/reposition costs
- Civil and operational works if required
- Interest / holding costs
- Transfer and legal costs
- Marketing finished product
Note that each local city council has different planning regulations and you should consult with the relevant property professional for advice.
If you have any questions about sourcing a great splitter block deals in Brisbane region or need help with your feasibility study, please feel free to contact us at info@casaproperties.com.au or phone Steve Winter 0405-050942.
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