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EP. 1464: Is My Property a Development Site?
Manage episode 493530627 series 3445143
Content provided by Mark Novak, Lisa Novak, Billy Drury, Michael Burgio, Cleo Whithear, Stankovic, Stevan Bubalo, Bidhan Shrestha, Thomas Sims, Jonathan Vescio, Harry Lorcas, Josh Wapshott and guests, Mark Novak, Lisa Novak, Billy Drury, Michael Burgio, Cleo Whithear, Stevan Bubalo, Bidhan Shrestha, Thomas Sims, Jonathan Vescio, Harry Lorcas, and Josh Wapshott. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mark Novak, Lisa Novak, Billy Drury, Michael Burgio, Cleo Whithear, Stankovic, Stevan Bubalo, Bidhan Shrestha, Thomas Sims, Jonathan Vescio, Harry Lorcas, Josh Wapshott and guests, Mark Novak, Lisa Novak, Billy Drury, Michael Burgio, Cleo Whithear, Stevan Bubalo, Bidhan Shrestha, Thomas Sims, Jonathan Vescio, Harry Lorcas, and Josh Wapshott or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
In this detailed discussion, Michael Burgio addresses a growing trend of homeowners inquiring whether their property qualifies as a development site under recent zoning changes in NSW. He explains how to assess development potential by checking zoning (e.g., from R2 to R3), permissible building heights, and floor space ratio (FSR). Using a hypothetical 1,000 sqm block, he walks through calculating gross floor area, net saleable area, and potential number of units, illustrating how these factors can drastically affect land value. He emphasizes that tools like the state government’s zoning map can provide a starting point for understanding if a property qualifies for higher-density development.
Michael then explores how to estimate a site's value from a developer’s perspective using "napkin math"—factoring in gross realisation (GR), construction costs, and desired return on investment. He demonstrates how variables like buildable area, setbacks, and council objections can reduce the theoretical value of a site, even if it meets zoning criteria. The conversation stresses the difference between a property's market value and its development value, advising owners to crunch numbers first before engaging with developers or agents. He concludes by suggesting a follow-up episode to cover the sales process if a site is viable.
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