benefit as well. The restrictions and guidelines might present good value opportunity to unleash the potential of a property with improvements, such as rebuilding, extension of dwelling, building of residential development or even subdivisions. There could be an opportunity that will allow you to buy a warehouse building zoned for industrial purposes and convert it into a student accommodation, capitalising on a gentrifying suburb.
Another example could be buying a property adjacent to land that been graded and has been rezoned and approved for a shopping centre. The future value of your property will improve rapidly once the shopping centre development commences.
Paying attention to town planning might offer you a heads up pending developmental plans.
It therefore critical to look at each property to analyse its potential value whether it offers the best use. Identifying the town planning requirements of the property you are targeting to buy with the help of a real estate agent can help investors avoid surprises.
If you are looking to buy, it advisable to spend a little effort on researching and understanding which property has what rights in an area that you are pursuing to avoid disappoints in the future.
SA Real Estate Investor Magazine FEB 2022 35