Covid 19 has thrown some interesting scenarios. I cant help but feel a bit removed here in Perth. Its a bit like a grand final where you hate both the teams. Its horrible to cheer and see a team you hate win, but you want to know the end result. As horrendous as this Grand final experience and how removed you feel, there is always going to be winners and losers.
While every country going broke. China is doing magnificently. Zoom are jumping for joy while owners of office space will be having a rethink. COVID 19 has created opportunities as well as disasters. I stumbled on one such opportunity in property yesterday.
The property in question was zoned R30 and the land size meant that it was possible to create two lots from this land parcel. An existing 3x1 home sits on the site.
Researching the sales evidence for the area the home was likely to sell close the $550,000 mark.
Subdividing the property into 2 lots the value of the property would increase. Based on the demand for land the individual lots would sell close to $400,000 each in the current market. The cost of the subdivision and demolition was $70,000.
The result was a gross profit of about $180,000 for a 6 month project. What a great opportunity!!!!
At Piran Property Group our experience is your advantage. When you subdivide and sell your property we help you through the entire process. We can pre-sell the lots and oversea the project to ensure time frames of approvals and works are on track.
For more information contact us today for a confidential chat or subscribe to our data base to get the latest land opportunities
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