Hamilton East property development

[MVL]

Gday everyone

I am hoping someone could help me with a few questions regarding developing land close to Waikato university.

At the moment I have 2x rental properties situated next door to each other (26&2. I am looking at developing these two sections in the future with the hopes to build 4-6 residential apartments depending on rules and regulations regarding dwelling size and land size.

Both sections are 600m2 = 1200m2

How many dwellings will I be able to fit on this land area to comply with council regulations?

also if anyone could forward any information or websites regarding the process of developing residential areas as such it would be a huge help

or if anyone has completed a similar development around that area and is willing to share and help someone starting out it would be very much appreciated

cheers

[Rosco]

Hi,

I'm not sure a forum is the right place for these questions. This is very specific information and is going to be very specific to your site. How wide it is, what zone it sits under etc.

Some options;
1) Go talk to the duty planner at HCC. You will get some information for free. The only problem with free information is it is often not the best
2) My preference would be to pay for advice from an expert in this field. If they can get you one extra dwelling, then that is extremely beneficial for you. Diverse Design are architects that do a lot of designs for these type of projects, and they might be a good starting point. I would expect to pay for any advice and generally these kind of experts are extremely busy so it might be months before you can get plans from them.
3) Talk to a mortgage broker and check you can actually get finance
4) If the houses are in good state, could you just keep the existing houses and do one or two duplex's or similar in behind?

Reasonably early on, you need to get some rough numbers to make sure the project actually makes financial sense. At the start you remove the 2 houses, so your overall value decrease, and you need to check that by the time you do all the work you have actually moved ahead of where you started from. Also what will your cashflow be when you finish, do the units make sense as rentals?

Ross

[MVL]

Thanks for the advice Ross much appreciated.

Good starting point will be a chat with HCC I think to get the ball rolling and crunch some numbers.

Cheers
Matt