landlocked section for sale on north shore

[elguapo]

In order to get it quickly and with DD overlapping the auction. Say the site is worth $500K in normal circumstances? So pay $50K - $100K extra to get a section at $300K discount. The result is $200K - $250K profit, more if combining them increases the value.

I don't know the numbers for that area at all, nor where it sits on the unitary plan. That's just the concept. Someone who knows the area better will do better.

Do you think the owners of those neighboring properties are unware of the value of unlocking that section? That 'profit' will already be priced into those properties.

[Anthonyacat]

Do you think the owners of those neighboring properties are unware of the value of unlocking that section? That 'profit' will already be priced into those properties.

I'm wondering why one of them doesn't buy it. Plenty of profit available that way. With five of them, surely one can afford...

[jack2016]

Tender not closed yet, so presumably a few of them will put theirs.

[Bobsyouruncle]

The old lady in the front holds the key and she is unco-operative. It's of little value to the other owners. One has made access impossible now from their site which was the best option. It's a very long game this one. Something you leave to your kids to wait for the owners to die and sell off.

[elguapo]

I'm wondering why one of them doesn't buy it. Plenty of profit available that way. With five of them, surely one can afford...

Because they don't need to, or want to. Surprisingly, not everyone is that keen on turning into a property developer, and it's quite possible they are all perfectly happy with a lovely backyard that someone else pays the rates for.

This is a shell game, no one will make any significant 'profit' from it.

[Bobsyouruncle]

I think that is most unlikely El. Whoever buys it and gets the lady in fronts house can then make significant money. It may just take 20 years. She has been there since 1999

[elguapo]

I think that is most unlikely El. Whoever buys it and gets the lady in fronts house can then make significant money. It may just take 20 years. She has been there since 1999

Whoever buys it will very likely pay too much for it.
In order to buy the 'lady's' house will very likely have to pay too much for it.
Whoever buys the section will have no control over how long the wait is. For every year that passes, rates will be paid and there will be no return on capital.

This is a shell game, nothing more than a chimera.

[PC]

Buy it, put some tents up, dig some trench latrines.
Let the local youth know they can use it as a free party and sleepover space.

After a while the neighbours might reconsider selling an access strip?

[artemis]

I wonder if it is adequately fenced. A drone might be needed to see. If not a buyer could issue a bunch of fencing notices and ask the court (Disputes Tribunal) to enforce access from all 5 adjoining properties to allow erection and require payment. One neighbour might allow access in exchange for a free fence. A buyer who gets a bargain might be willing to use the law in any way s/he can, might even enjoy the challenge.

[Nick G]

Now we're talking. How about a yurt, those Yak skins can't smell too good after a long summer, particularly if you're smoking a lot of fish next to it...

Buy it, put some tents up, dig some trench latrines.
Let the local youth know they can use it as a free party and sleepover space.

After a while the neighbours might reconsider selling an access strip?

Whoever buys it will very likely pay too much for it.
In order to buy the 'lady's' house will very likely have to pay too much for it.
Whoever buys the section will have no control over how long the wait is. For every year that passes, rates will be paid and there will be no return on capital.

This is a shell game, nothing more than a chimera.

[north shore]

They have now updated their listing, which is great for curious people like me!!! It is now listed for $160,000
UPDATED:
What a journey! We received six written offers - thank you to all who did so. The prices were not quite at an acceptable level and rather than irritate people by negotiating we have decided to list at a price.

[artemis]

I wonder how many offers were from neighbours. Love to see a neighbour buy it, rearrange boundaries to provide access, put up the max building/s that are permitted, sell up both properties and retire! Leaving the uncooperative neighbours with no privacy or sun. (Yes I am evil.)

[Bluekiwi]

FYI

I put in an offer at 100k on this.
I spoke to neighbours on both sides to get the full story.

The lady in front did not get treated well in the past by the owner of this site.
He was a bit of a dick apparently and quite rude.

My plan was to buy it.
And enter into a deal with her to sell the whole lot as one site.

I had a wander around the site, it was quite muddy at the bottom and their was a stormwater issue re people next door.

If she didn't play ball I was going to set up a radio station and constantly play Dean Letfus music collection non stop

[Beano]

FYI

I put in an offer at 100k on this.
I spoke to neighbours on both sides to get the full story.

The lady in front did not get treated well in the past by the owner of this site.
He was a bit of a dick apparently and quite rude.

My plan was to buy it.
And enter into a deal with her to sell the whole lot as one site.

I had a wander around the site, it was quite muddy at the bottom and their was a stormwater issue re people next door.

If she didn't play ball I was going to set up a radio station and constantly play Dean Letfus music collection non stop

I think the next door property is for sale
I noticed a sign outside the neighbors