Large But Irregular Shaped Land For Rebuild

[garychang 0]

Hi Landed owners

I have been trying to sell a trapezium shape land where the shortest side is the entrance of only 7m.

After consulting URA, and comparing with neighbour's rebuilt and subdivided house, I found its possible to subdivide current 1975 original Corner Terrace into Semi -D with 3m frontage each (subject to URA final approval)

size 6800sqft

Developers and potential buyers have called but doesn't seem to see any "future" in it...

Asking price $6m + Development Charge $1m + Rebuild $1.2m = $8.2m thereabouts...

no one is interested in A&A it seems unless its their own house

but everyone is interested in straightforward subdivision... which this corner terrace is not.

just wanna know is there anyone out there with similar experience and willing to share?

Gary

[yoongf 11]

3m opening to public road is very tight. Assume put autogate, the nett clear opening will be about 2.4m. this is like a narrow carpark lot width.

Construction cost 1.2Mil impossible, Closer to 2mil if factor in all the consultant costs in. Subdivision means additional sewer connection, as well as subdivision costs.

There is also stamp duty payable on the land.

Total Devt cost will then be ard 9mil, suggesting a breakeven of 4.5Mil each, before factoring in any profit or increase in valuation.

There are very few transections in that price range now. Let alone for a house with a 3m wide frontage?

I always believe it is all in the pricing.

[Brian Huang 4]

Wow sounds like great advice anyway I feel there's more appeal in selling it as it is since it's a corner terrace which is favored over normal terrace houses. As long as the price is right there should be a buyer!

3m opening to public road is very tight. Assume put autogate, the nett clear opening will be about 2.4m. this is like a narrow carpark lot width.

Construction cost 1.2Mil impossible, Closer to 2mil if factor in all the consultant costs in. Subdivision means additional sewer connection, as well as subdivision costs.

There is also stamp duty payable on the land.

Total Devt cost will then be ard 9mil, suggesting a breakeven of 4.5Mil each, before factoring in any profit or increase in valuation.

There are very few transections in that price range now. Let alone for a house with a 3m wide frontage?

I always believe it is all in the pricing.

[Lauer 15]

Wow sounds like great advice anyway I feel there's more appeal in selling it as it is since it's a corner terrace which is favored over normal terrace houses. As long as the price is right there should be a buyer!

6800 sqf?

Whoever wants this kind of space probably wont want it as CT liao.

Cheers!