Brisbane Zone Highlight: LMR
Photo by Thirdman: https://www.pexels.com/photo/contract-on-clipboard-and-blueprints-8470830
LMR (Low-Medium Density Residential) sites in Brisbane offer exciting opportunities for residential development. Properties with this zoning provide the perfect canvas for developing different types of residential housing.
Whether you're envisioning detached houses with spacious yards, modern townhouses, or low-rise apartment buildings, these sites offer flexibility to cater to various housing preferences and lifestyles.
If you're considering investing in an LMR site or want to understand the potential of such properties, this guide is for you. We will explore the various activities you can undertake on LMR sites, promoting housing diversity and meeting the needs of residents in Brisbane.
Split & Sell
Depending on the specific regulations governing the LMR zone, you may have the option to subdivide larger lots into smaller individual lots and selling to potential buyers. This option is attractive due to it’s shorter duration, and the process can be as short as 3 months to prepare and obtain new titles from the council.
It's important to thoroughly research and plan the subdivision project, adhere to regulatory requirements, and make sure your team has sufficient expertise in land development to ensure a successful outcome.
Listing photo from a property in Coopers Plains, QLD 4108
Dual Occupancy or Duplexes
Dual occupancy refers to the construction of two individual dwellings, each with its own separate entrance, on a single lot. These dwellings can be attached or detached, depending on the design and layout preferences. Duplexes, on the other hand, typically refer to two attached dwellings sharing a common wall.
These are popular options for residential development on LMR (Low-Medium Density Residential) sites as they offer the advantage of maximising land usage while providing two separate dwellings on the same lot.
For property investors, dual occupancy can be an attractive investment strategy. Renting out both units provides dual income streams, maximising the potential return on investment. Additionally, in some cases, duplexes may be sold individually, offering the opportunity for separate sales and potential capital appreciation.
Listing photo from a property in Caboolture, QLD 4510
Town Houses
Townhouses are residential properties that are typically part of a larger complex and share one or two walls with neighboring units. They offer a unique housing option that combines the benefits of a single-family home and an apartment.
Townhouses often provide a more affordable housing option compared to detached single-family homes in the same area. They allow individuals and families to enjoy the benefits of homeownership without the higher costs associated with larger properties, and often includes shared amenities such as pool, BBQ, and gyms.
Developing an efficient and appealing townhouse design is crucial. Consider factors such as the number of units, unit sizes, floor plans, parking provisions, and outdoor spaces. Maximizing the use of available land while maintaining a functional and desirable living environment is key to attracting potential buyers or tenants. To achieve this, having the right team behind you is absolutely crucial.
Listing photo from https://www.realestate.com.au/property-townhouse-qld-morningside-141233800
Before You Make a Purchase
It's important to note that any development must comply with local planning regulations and zoning requirements. These regulations may include restrictions on building height, setbacks, parking provisions, and other design considerations. Before embarking on a project, it's crucial to consult with local authorities and engage professionals to ensure compliance with the regulations.
If you’re reviewing a project IM and want to learn about financial metrics, check out our blog here: https://www.mateogroup.com.au/blog/financial-metrics
Disclaimer
It's important to note that the information shared here is not financial advice, but rather a general discussion on property investing. For personalised advice, consult a financial advisor or an accountant.
