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  1. #21

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    Quote Originally Posted by John the builder View Post
    It is rubbish to apply %NBS to change of use

    34% is only something dreamed up to deal with EQprone and this doesnt apply to the propsed use. any talk of %NBS suggests confusion with EQprone. Where do you get this from otherwise?
    The current building code is essentially 100% NBS. If a property is not 100%, then it does not meet 'current' new build standards. A change of use requires it to be up to 'current code' or as close a possible - so % of NBS is of importance to ANY property that is facing a 'change of use'.

  2. #22

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    The LIM arrived just today. I am not an expert at reading them but there are a few bits of info I can see that might be important. The building looks like it was put up in 1972.

    It is also not EQ prone. There is information about the IEP in the LIM and it seems an assessment was done. If I am reading the results correctly it was at 43% NBS (in 2009 when it was done I guess) which is grade C. Someone who knows what they are looking at might be able to interpret the results to say where improvement might be required.

    Other than that I can't see anything significant in the LIM. I will have experts look of course.

    Simon

  3. #23

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    A change of use requires it to be up to 'current code' or as close a possible - so % of NBS is of importance to ANY property that is facing a 'change of use'.
    it is a mistake to use NBS

    the s115 says nearly as practicable with (among other things) structural performance and fire performance. It doesnt say 'new Building Standards' or even mention 'new building'?

  4. #24
    Join Date
    Dec 2015
    Posts
    297

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    Quote Originally Posted by CitySlicker69 View Post
    Firstly, a 200sqm site is not a large enough size to be viable for redevelopment. Even if you are in an area that allows a 6-storey height limit, as you develop higher- you face additional requirements such as secondary egress and lifts etc, which all eats into the useable space of a development.
    Im not sure what neck of the woods your in, but there are plenty of recently built Wellington apartment buildings on land smaller than 200sqm. Lots of very narrow & tall developments.

  5. #25

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    I've decided it is probably too risky for me this particular property unless it went for a very low price (not likely I imagine!) but I might watch the auction just to see how it goes and how it all works and for the experience. The issue with such a project seems to be no one can tell you how much it is likely to cost to do until you actually start full on planning to do it. Obviously it is easier for people with experience in doing that but as a newbie there are just too many unknowns for me.

    My Ak property is going to auction the day before so now I am busying figuring out what reserve to set. I think the agents are softening me up to set it low but I have a pretty good idea of what I want and what I think is reasonable. It's interesting to look at their fees. 100k difference in the sale price is massive to me of course but only $2300 difference in fees to them. I figure they'll want the sale rather than trying to get best price!

    Thanks all those who commented here. It's been an interesting experience!

    Simon

  6. #26
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    779

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    Quote Originally Posted by RileyNine View Post
    Hi all, I recently moved from Auckland to Wellington for a career/lifestyle change. I am currently selling my house in Ak and looking to buy in Wellington. One of my hobbies is restoring old cars which means I need quite a bit of garage/workshop space. Something not easy to find in Wellington!

    I missed out on one perfect residential property that sold by tender. I am currently looking for others. But one thing that did come up was a small (200sqm) commercial property that used to be a garage or panel beaters I think. It is basically a giant shed type building. Concrete block walls and steel beam roof. It has on the front of it two small offices as a second story (only 40 sqm). There is also on the main floor a toilet and sink and kitchen type sink/break room.

    As a large garage the property is ideal for me and I am looking into the possibility of converting it into a small, one bedroom apartment for myself with a huge amount of garage/workshop space. Basically my own little apartment with a big garage space in the city. It would be for my own use, not to rent out.

    The property is being sold by auction.

    I have no experience with commercial properties at all nor of doing this kind of conversion and was wondering if there were any pitfalls I should watch out for. I know that the zoning is fine for converting it. What I don't know is what strengthening or changes need to be done if I do make an apartment there. I asked the council and the response is basically they need to see what my plans would be before they can advise (I do have several designers lined up if I get that far). I don't quite understand how the new earthquake ratings come into it all. Being a 2 story building but only one dwelling maybe they don't?

    I also am unsure about having it changed from a commercial property to a residential one. Currently it is rated as a commercial property. Can that be changed? Is is worth changing it? I am guessing the rates (currently about 10k) would be less!

    Also I know there might be tax implications involved too. I am GST registered as is the vendor so the actual purchase if it happened would be zero rated for GST I believe. But I don't understand the longer term implications.

    You do hear of people now buying inner city properties and converting them. Does anyone have any experience of this? Or know of good places to get information on what is involved? The thing I am finding tricky is working all this out before I even decide if I will be able to bid on the property. What's an appropriate amount of due diligence? Any advice (even if it's don't do it!) I would be grateful.

    Thank you!

    Simon
    Did you buy ?


 

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