PRO134: Property Development - Development Application and Site Feasibility - Aspire Institute - Report Writing Assessment

Subject Code: PRO134 Internal Code: 1AIEGI

Report Writing Assessment

Assignment Task: PRO134 Tasks: You will be provided with a site plan for a property located at 17 Arnold Street in Kellyville. Your task will be to determine how many land allotments a hypothetical subdivision will yield on a 10,237 square metre englobo site with three street frontages and given LEP controls. Your conclusion must make a statement as to how much the englobo land is worth, given its subdivision potential. Task A: You will provide a sketch plan of the site showing your proposed subdivision given the highest and best use of the land. Task B: You will prepare a Development Application on the correct documentation for the Hills Shire Council. You need to source this. Task C: You will carry out feasibility on the property utilising a spreadsheet according to the hypothetical development analysis method and determine what is the highest price you can afford to pay for the site while maintaining your hurdle rate. This is a hypothetical exercise so there will be no need to inspect the site. You will be given the spreadsheet template and instruction on how to populate it. Income and subdivision assumptions: A market analysis of nearby recent comparable land sales shows that the market is prepared to pay $950,000 for street front land of 700+ square metres, which incidentally, is the minimum allotment size under the zoning for that location. The minimum area for a battleaxe allotments is 840 square metres, they are valued at $900,000. To bring the land to its highest and best use, it will require a mix of superior street fronts and battleaxe allotment/s. Minimum frontage is 18 metres and the allotment must carry a 15 x 20-metre building platform and a 5-metre setback. The minimum side boundaries are 1 metre. There is no minimum rear garden setback other than 1 metre from the boundary. The minimum width of any battleaxe drive is 4 metres and it must be able to house a similar sized building platform. A list of development costs will be provided in coming weeks. What your report must contain:

• An introduction as to the tasks and Table of Contents
• A well-drawn sketch plan with all boundaries marked in dimension and individual lots labelled with the total square meterage.
• You may need to produce this in a larger A3 format or use graph paper.

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