Property owners have one opportunity to maximise the value of their property – when they sign a Contract of Sale.
Understanding the value of a development site is becoming increasingly difficult in a bureaucratic and prescriptive town planning system that has multiple residential, mixed use and commercial zonings all of which allow some form of residential development. Each zone includes provisions for height restrictions, set- backs, car parking requirements, site coverage, neighbourhood character/urban design, traffic considerations etc. Anticipated timeframes for planning permits also factor into the assessment of the prospective purchase price of the property.
Additional town planning complexity is layered by some of the following Council Overlays:
- Design Development Overlays
- Development Contribution Overlays
- Vegetation Overlays
- Significant Landscape Overlays
- Heritage Overlays
- Flood Overlays
- Neighbourhood Character Overlays
That’s just the town planning.
Understanding market demand is just as important and being able to identify a property’s highest and best use is critical to maximising the potential sale price.
Madison & Masters can help owners through these complexities and identify the best way to promote a property.
With over 400 active developers on our direct contact list we can assist in bringing genuine competition to your sales campaign.
