How to subdivide and build on your existing block

INVST AUSTRALIA

JULY 2017

HOW TO SUBDIVIDE AND BUILD LEARN ABOUT THE PROCESS FORWARD THINKING

SURROUND YOURSELF

PROFESSIONALS EXPERIENCE

VALUE IN YOUR LAND RELEASING UNTAPPED POTENTIAL This document is prepared for those who may be thinking about how to tap into the intrinsic value of their residential block of land. All the developments arising in your neighborhood are developed by owners who had the same desire, they were guided by a group of professionals who have worked together with the owners to release the hidden potential within their property.

The value of your residential property lies locked within you block of land and to unlock it you will need to redevelop the use of your block, this may mean a subdivision and redevelopment.

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Working with the right people is critical to a successful outcome. Finding the various professionals and providers of services can be daunting but there are companies focused on delivering successful projects for individuals, using their experience and networks to bring together a single point of contact to first time developers.

UNDERSTANDING THE NEEDS Residential redevelopment may require all of the following experts: Town planners, Architects, Traffic Engineers, Ecologists, Arborists, Hydrologists, Heritage experts, Geotechnical specialists, Building Contractors, Landscaping Architects, Building Surveyors, Civil Construction Contractors, Solicitors, Project coordinators, Project Managers and Real Estate Specialists.

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Finding a team to work with you is the first step to a successful and profitable outcome.

JULY 2017

SUBDIVISION PERMIT During this stage, there may be further amendments to the Urban Design and Council requirements are incorporated into the plan. Once the requirements are met the Application Fee is paid.

SUBDIVISION CERTIFICATION

This Photo by Unknown Author is licensed under CC BY-NC

A Plan of Subdivision must be prepared and submitted to Council by a Licensed Land Surveyor for Certification in accordance with the Subdivision Act 1988 and the Planning Permit. At this point payment is made for the application.

During the process amendments may be necessary.

AUTHORITY WORKS

LAND SUBDIVISION SITE INVENTORY & ANALYSIS The site inventory are steps in the design process used to assess existing conditions and determine how or if they will or should change. The site analysis is an evaluation or judgment of features on the site. Once all of the elements on the property are identified, the pros and cons of each element are then evaluated. Often, the site inventory and analysis phase of design occur at the same time

All the relevant Authorities will require applications submitted to find out each Authorities requirement to gain approval of your application to subdivide and develop. The list of Authorities required to give you approval is vast. Electrical, Water, Sewer, Drainage, Gas, Telephone and CFA. The construction of works must be completed and complied before or during the development of your project.

PRIVATE WORKS Experts involved at this point: Traffic Engineers, Arborist, Ecologist, Cultural Heritage Experts, Hydrologists, Geotechnical Engineers.

DEVELOPMENT PERMIT Urban design is about making connections between people and places, movement and urban form, nature and the built fabric. Urban design draws together the many strands of place-making, environmental stewardship, social equity and economic viability into the creation of places with distinct beauty and identity.

Urban design draws these and other strands together creating a vision for an area and then deploying the resources and skills needed to bring the vision to life.

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Detail plans of the dwellings are prepared to Building Regulation Specifications. The landscaping plans are drawn up and lodged. Various Community Infrastructure and Development Infrastructure Levies are required to be paid at this time.

Building Permit Applications and fee will be required. If an existing dwelling will remain on the land, further evidence of modification and compliance will be required. The new dwellings and associated works will need to be

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documented and submitted for approval. Landscaping must be completed to the Permit Specifications.

STATEMENT OF COMPLIANCE Council and any Referral Authorities will outline various requirements that must be satisfied before Statement of Compliance can be issued. The Planning Permit may also outline works, fees or legal agreements that are required prior to the issue of a Statement of Compliance.

Once all Referral Authorities and relevant Council departments have consented to the release of a Statement of Compliance, Council will issue the Statement of Compliance. The Licensed Land Surveyor must lodge the relevant documentation with Land Victoria for titles to be issued.

REGISTRATION The following fee will be paid now: Plan Registration Fee and Owners Corporation Fee. An Owners Corporation Management Meeting must be held and the rules will be set out, Insurance and Entitlements will be put in place for the new development. The Solicitor will lodge the Plan and any discharge of Bank Mortgage and transfer of tiles will be completed at this stage.

MARKETING In most cases the project will consist of multiple dwellings and some may be retained by you and some sold. For this to be done, Contracts of Sale must be prepared, Marketing Brochures and other forms of internet visibility must be put in place. Section 32’s will be prepared by your Solicitor who will be responsible for the Transfer of Title to the new owners.

TAXES You must seek advice on matters pertaining to GST, Land Tax and Capital Gain Tax.

INVST AUSTRALIA (DIVISION OF VICTORIAN FINANCE GROUP)

JULY 2017 Disclaimer: The information contained in this document is general in nature and provided as reference material only. This information is not specific advice about the application of the law to a particular fact scenario, nor does it replace (or purport to replace) any requirement to obtain specific advice. If you require specific legal advice about your own, your consumers’ or your organization’s position in relation to anything covered in this document, that advice should always be obtained from a qualified legal practitioner.

Invst Australia: The sole purpose of Invst Australia is

to show you how simple and attainable building an investment property is. We know that the hardest part of property investing is taking the first step, that’s why we created Invst Australia to help you analyze, select and tenant an investment home, apartment or townhouse. We are aware that paucity of time is the reason why most people make hasty decisions without due diligence when buying a new investment property, the result can be a poor selection and a bad experience.

Our focus is on helping you complete your due diligence checklist while making sure you don’t miss the fine print in selecting and signing contracts to buy land and build a new investment home. The bottom line is to help you secure an investment property through smart choices using our 18 plus years of experience. Our process involves independent solicitor’s advice with contracts and financial advice from a Financial Planner at no cost to you.

We want you to be educated and comfortable with your decisions. Our role is to facilitate, monitor and manage your property selection all the way from the initial discussions to a home built and handed over to your tenant. Our service does not end here, we conduct reviews every 12 months to ensure your loans are performing and equity growth is managed to help you reinvest in new and emerging suburbs.

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