Hi everybody, my name is Aaron and this is my first post. It's nice to be part of this community
Firstly, I apologise if this post is not in the correct area, I didn't really know where to start.
OK, so I have the opportunity to buy 2 properties that I strongly believe are in an area that will be rezoned next year. I believe the rezoning will allow for probably 3 levels to be built up and even possibly up to 10 levels (depending if the council rezones the area medium or high residencial).
My idea is to purchase both blocks and then after the rezoning happens next year, I would get plans drawn up to fit on as many apartments as possible. I may then get council approval for these apartments and then sell to a developer, or, ideally, if I can find someone to invest, we would develop the site ourselves and then sell.
My question to the community is this, if the area is rezoned to medium residential (as I said earlier, I believe that then allows for 3 level building to be built... I'm in Syd, pls correct me if I'm wrong) how many 2 bedroom apartments would fit on a block that is 73m x 40m. Its a corner block so we could have 2 entry and exit points and would need to also allow for residential + visitor parking.
MANY thanks in advance!