SUBDIVISIONS, DOUBLE BLOCKS AND MULTIPLE LOTS
Purchasing land in multiple allotments is an underused (and not widely known) real estate investment strategy. When there are two or more lots on one title, separate titles can be created without going through the complex and time-consuming subdivision process. Depending where the property is, separate titles can be achieved within 2-4 weeks without the need for town planning or applying for a plan of subdivision. In most cases, a conveyancer can simply apply for separate titles at the local titles office.
With REDA, you can sign up and get access to the best double block and multiple lot real estate listings from around Australia, including subdivided land for sale. Using targeted search algorithms, we trawl the biggest and best real estate websites to bring you comprehensive property listings that you can filter, search and browse. New listings are being added all the time to ensure you never miss a bargain.
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WHY INVEST IN MULTIPLE LOTS?
Buying multiple lots and applying a split-and-flip strategy is a great way to generate multiple sales from a single purchase and come away with a nice profit. Because of the costs and complexities associated with subdividing, however, many people don’t even consider splitting up multiple allotments.
In fact, many real estate agents and vendors are actually unaware that some double lots can be sold individually without the hassle of subdividing, which means they may not realise its true potential. This allows for the opportunity to pick up these properties under market value.
In some cases, the vendor may be aware that the lots could be sold off separately but they’ve decided that it’s easier to sell the property in a single transaction.
Double blocks with the house set to one side of the block, where the house doesn’t straddle or encumber the lot next to it, can also be incredibly lucrative. Provided no planning overlays restrict the use of the empty lot, the titles can be separated with no development costs or town planning or council requirements.
RISKS ASSOCIATED WITH MULTIPLE LOTS
Investing in multiple lots involves doing some serious due diligence. It’s vital that you check each lot for the appropriate utilities connections including water, gas, electricity, sewerage, internet and phone. Other major considerations include title restrictions, planning overlays, zoning, boundaries, and vehicle access. For double blocks with a structure, it’s important to ensure that the structure doesn’t encumber the boundaries at any point.
You should also check with your conveyancer to ensure that the individual lots can be safely and legally separated and sold before you make the purchase.
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