Case Studies
330 - 350 Sixth Avenue, Austral 2179
R2-Lot Subdivision to Retain Homes
4.86ha
10.5KM
Background
R2 Low Density Family Property: Partial Sale with Homes Retained
Located along Sixth Avenue was the long held family property and market garden of our clients. We were referred to this family by another of our clients who we assisted on Seventh Avenue. The multigenerational family was well known in the area as they had a strawberry farm and owned multiple properties.
Whilst they wanted to sell, the clients were very clear that they wanted to retain the two significant family homes that they had built on the property.
- Land Size 9.7 Acres
- Status Purchased by Rawson Communities
- Outcomes Subdivision into 95 Lots
- Key Stakeholders
The Vendor and family
Development consultants.
Client's legal and financial advisors
Solicitor and Accountant
Prospective Purchasers
Purchaser's consultants - Services Rendered
Planning research
Property Advisory
Property Negotiation
Process
Due to our client's desire to retain two homes on the property, the selling strategy required us to obtain detailed planning advice and develop a comprehensive brief for potential purchasers to meet this requirement.
The existing family homes were located on either side of a future local road (16m wide). A three lot subdivision was required to allow retention of the two homes. The design of one home and it's proximity to the future road meant that some demolition was required.
Considerations included:
- detailed site survey and planning advice
- planning of retained lots including comprehensive list of
- qualifying and negotiating with multiple interested parties
- updating clients and liaising with solicitors to reach agreement
- liaising with purchaser's consultants for due diligence period
- demolition and reconstruction of fence and pool wall
- staged connection of services to retained dwellings
- decommissioning and removal of septic tank once new sewer
Key Considerations
- Site survey & Planning Strategy
- Legal and Tax Considerations
- Multi-generational family with multiple stakeholders
- Detailed list of post development requirements
- Complex Property Transaction
Results & Outcomes
There were a number of outcomes achieved in this sale all of which met the very specific client needs to retain the homes and all of the associated works to ensure that this requirement was fully achieved.
The results and outcomes achieved for our clients included the following:
- Record Price Per Acre achieved at the time
- Significant Deposit Released and Staged
- Managed tax implications from sale through stakeholder engagement with the family solicitor and accountant.
- Re-negotiation to secure safe transaction during changing market conditions.
- Liaising with developer's consultants to ensure vendor's requirements were met.
- Assistance throughout the process to reduce potential stress associated with the sale.
Uncovering true potential
