Subdividing can be a complex process, the outcome of which is impacted by often confusing regulations set out by a number of different organisations. It is not a project to enter into without first being armed with all the relevant information including a thorough understanding of the costs, timeframes, extent of site works required and likely returns. Multiply Property Group has put together the following list of helpful tips to bear in mind when considering a subdivision project:
Be Mindful of Overcapitalising
Depending on the type of subdivision you are hoping to achieve, for example, Green Title, Survey Strata or Built Strata, the costs to comply with regulatory requirements can be significant. It’s important to be clear on exactly what works need to be carried out on your site in order to fulfil your obligations under both state and local laws. It’s also imperative you have access to accurate market data to ensure you’re aware of the likely value of your newly subdivided land. Carefully analysing all the figures at the outset will help clarify whether subdivision is the most profitable strategy to employ and also which type of subdivision is likely to generate the most optimal returns. We recommend working with a subdivision professional who has experience managing similar projects and can independently critique your project from a cost/benefit perspective.
Always Rely on Licensed Surveyor
A licensed and experienced Surveyor will ensure all the information required for your subdivision application is accurately captured and appropriately documented. This includes not only the size of your existing and proposed titles but also a thorough evaluation of all the variables affecting your application such as existing buildings, land contours, trees, location of services and local streetscape.
Ensure Key Services are Properly Addressed
Regardless of the type of subdivision you are applying for, there are strict regulations governing the location and treatment of key utility infrastructure such as power, gas and sewer lines. It’s important to have a clear understanding of the geography of your existing services as well as transparency around the costs associated with conducting any required works. Green Title Subdivisions require service connections to be completely independent of neighbouring titles. Failure to factor in works at the appropriate stage in the project can result in unforeseen blowouts to both your budget and timeframe.
Employ Experienced and Competitively Priced Contractors
Subdividing land usually requires a variety of different trades and, depending on the characteristics of your individual block, can include earthworks, plumbing, demolition, concreting, electrical, tree removal and fencing. Ensure the contractors you select are properly accredited with the appropriate licenses and insurance and are experienced carrying out the required works. It’s also a good idea to prepare a project timeline to ensure each contractor is booked in at the most appropriate stage of the process to prevent delays and keep costs to a minimum.
Having managed a diverse range of subdivision projects in both Perth and regional locations, Multiply Property Group has established a trusted and competitively priced network of contractors. We have considerable experience across every stage of the process so are able to anticipate the timing of conditional approvals and pre-book contractors to carry out works strategically. This results in minimising the project’s overall duration and expediting financial returns for our clients.
Understand Your Requirements
In addition to title sizes and regulation of service connections, there are usually many other stipulations that need to be met in order to achieve subdivision clearance. These conditions can be difficult to understand, and it can also be challenging to determine which requirements are absolutely necessary versus those which are merely requests. Multiply Property Group’s subdivision experts have experience managing all manner of projects so can quickly assess the minimum requirements for your subdivision to be approved. We ensure all the necessary paperwork is completed accurately and efficiently and can offer advice from the outset around exactly which works will need to be completed to achieve a favourable outcome.
For expert advice, licensed Surveyors, competitively priced contractors and accurate, upfront subdivision project costings, contact Multiply Property Group today.