Subdivision is a popular method of releasing the financial equity in your property. This process is broken down into eleven steps and our specialist staff are here to support you through the process, working in close partnership with you every step of the way.
Subdivision involves designing a development layout for your property that meets your local council’s town planning policy framework, and also complies with the regulations governing Victorian subdivision, commonly known as Rescode. On obtaining your local council approval for subdivision, the connection of services to the newly created block(s) must occur.
As it is the owner who will benefit from the increased value of the subdivided land, the government seeks to ensure that the burden of costs associated with connecting the newly created block(s) to water, sewerage and electricity rests with the owner who subdivides the property.
Our team will work closely with you to project manage this process on your behalf, keeping you abreast of all fees and advising you when these are payable to each of the service providers.
When all of the conditions of your council-issued planning permit are met, we can then obtain property titles for the newly created lot(s). Titles cannot be obtained until all conditions of your Council approval are met. On obtaining titles this land can then be sold to a new owner or held by the current owner for investment purposes.
There are various elements to be considered when subdividing land or buildings. These include:
- Real estate prices in your local area to determine whether the project will be profitable;
- Knowing the associated application costs of the Council and the service providers when completing a subdivision;
- An effective development layout so that the maximum value of the land is achieved;
- Being aware of any existing site features, such as trees and easements, which may restrict the subdivision potential of the land
Our team has the vision, creativity and demonstrated industry experience to exceed your expectations and deliver a fantastic return on your investment. Take the stress out of your subdivision project by letting our experts complete the project efficiently and successfully.
Click below to learn more about the eleven steps of the subdivision process.