The Most Important Element of your Melbourne Multi-Unit Development
When it comes to property development, choosing the right block of land is probably the most important decision you’ll make. It can make or break your project, and directly impact your costs and potential profits.
There are a lot of factors to consider when selecting a block of land for your multi-unit development.
The Location, Size, Slope and Features are vitally important.
You want to look for a location in an upcoming or desirable neighborhood with good infrastructure and amenities nearby. Think public transportation, medical services, hospitals, parks, childcare, and schools. These can all boost your property’s selling potential and price.
Size is also a crucial factor to consider, as regulations require you to set aside 25-35% (depending on the land size) for private garden space. The shape of the land is also important, as it can limit your design options, and the frontage will impact accessibility and the number of dwellings you can include.
The slope of the land will affect your site costs and may require retaining walls or split-level designs. Orientation is also essential, as it will influence the liveability of the space for eventual owners and the building’s energy ratings, which can impact the design and location on the lot.
Neighboring properties, easements, and verge items like power poles and fire hydrants. Building regulations specify what you can and cannot build within certain distances of neighboring properties. Easements may limit the usability of the block of land, and overlays can specify what you can and cannot build in a certain area, including development numbers, size, design, and building materials and landscaping options.
So, what does the right block of land for your property development project look like?
Ideally, you want a well-sized block in a desirable neighborhood with good amenities and no restrictive elements. If any of these factors are less than optimal, your development potential and profitability may be compromised, and the project may not be worth investing in.
If all of this seems overwhelming, we can help.
Delcon design and construct are an experienced design and construct team with the experience to help you navigate the process. We can assist take care of the planning process and guide you through the complex controls that might seem like barriers to many first-time investors.
If you’re looking for advice on choosing the right block of land for your Melbourne multi-unit development project, give our director Daniel a call on 1800 335 266 for a free, no-obligation discussion.