Quote:
Originally Posted by Bill Douglas
Interesting, thanks.
So guys, the big question. What is the most the land is worth.
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Based on your description and there's nothing blocking the development I'd say 660k per unit or
$3,960,000 total for the land package.
(Assuming the market in New Zealand is similar to Australia)
That may sound like a lot but recently I saw a beach front block of land for sale that was zoned for 3 stories. The asking price was $2.2 million and it sold very quickly.
But I wouldn't consider doing anything like this right now. I'd wait until the pandemic is well behind us.