Separate titles or not

[Gayle]

Just wondering what pointers you can give me.
We have 2 houses plus sleepout providing three income streams at Papakura all on one title 1157 sq metre area.
With the new unitary plan I see that the area we are in is mixed urban and so I am pretty sure this qualifies for a couple of storey high buildings and a bit more density possibly 4 or 5 units if its two storey.
We can get the separate title and sell as two independant homes or try our luck without incurring the cost of getting the titles separated or sell as a block with the one title.

What is going to reap the better result? Thoughts and ideas please.

[Davo36]

So why are you selling firstly?

Secondly, I'm in a similar boat as I own a commercial property in Papakura, and I can go up to 10 levels there (not that anyone would want a 10 level building in Papakura just now).

I could perhaps get a resource consent in place to develop a taller building and then sell... but I'm not sure if it's worth it or not.

[Gayle]

So why are you selling firstly?

Secondly, I'm in a similar boat as I own a commercial property in Papakura, and I can go up to 10 levels there (not that anyone would want a 10 level building in Papakura just now).

I could perhaps get a resource consent in place to develop a taller building and then sell... but I'm not sure if it's worth it or not.

Wanting to take up a new venture is our reason.

Our concern is that if we go for separate titles it may negate the opportunity for a larger development with the use of the single title.
I know there are not too many sites around of this size on one title and that may be our strongest sell point for one section of the market.
However with the two titles it would be a ready sell for a bigger market.

So big questions to weigh up!

[Davo36]

Oh no, getting 2 titles won't limit things (as far as I know), in fact it just gives on more title to the person doing the development.

So for instance if you sell with 2 and the new buyer wants to bowl everything and put 4 houses on it, then they only need to pay for 2 new titles.

This assumes you're selling both titles to them at once of course.

I have 5 titles, and I could sell the whole lot to someone who would then benefit from having 5 titles going into the next development.

[Gayle]

Thanks for the pointer there.
My other question would then be - If the land is in two titles and in order to develop it there needs to be a third for each building - the two titles would have to be bridged and that could b a barrier to development?
Having the total area to play with could allow more options?

[John the builder]

and in order to develop it there needs to be a third for each building

I think you are confused?

You can build a building over more than one title as long as certain things are met. You dont create a third?

With council approval and most likely when the development is underway or complete you might resurvey to tidy up title. If multi unit development then likely get unit titles so you can sell to individual owners.

[Davo36]

Thanks for the pointer there.
My other question would then be - If the land is in two titles and in order to develop it there needs to be a third for each building - the two titles would have to be bridged and that could b a barrier to development?
Having the total area to play with could allow more options?

As John the Builder has pointed out, you're not quite understanding things.

Ummm... if you have say 2 titles, then someone can come along and build over the 2.

You don't necessarily need to have 2 or 3 titles or do anything.

I suggest you speak with a surveyor. I can recommend Duncan Lucas at here: http://www.mrl.co.nz/

He can probably explain things better than I can.

[Gayle]

As John the Builder has pointed out, you're not quite understanding things.

Ummm... if you have say 2 titles, then someone can come along and build over the 2.

You don't necessarily need to have 2 or 3 titles or do anything.

I suggest you speak with a surveyor. I can recommend Duncan Lucas at here: http://www.mrl.co.nz/

He can probably explain things better than I can.

Thank you for the responses and direction there. I will chat with the surveyor you recommend.
I have no idea of costs involved with obtaining the title but as they are established homes I would think surely not too much as all infrastructure is in place.
So that would be factored into our sell price.
Just didn't want to be going down that track only to have someone curse us later if they wanted the block in one.