Whether subdividing to secure the farm’s financial future, creating a lifestyle property, releasing capital for retirement, protecting native bush, or developing a wetland subdivision, one thing people often say is, “I wish I had started this process sooner.”
We talk to Simon Reiher, a Registered Professional Surveyor and land development expert, and Myles Goodwin, Planner and Environmental Director of Cato Bolam, about rural subdivision and securing your farm’s future.
Simon: “As landowners reach retirement, we hear a common statement: “The property has become too large to manage, but we love the location and want to stay in our community.” Subdividing allows them to sell part of the land while retaining their residence. Others may wish to subdivide to maximise property value before selling. Many landowners realise that if they don’t subdivide, a purchaser likely will, to maximise the property’s equity.”
Myles: “Another reason rural landowners subdivide is to create a block of land for their children, making homeownership more affordable in a challenging housing market. Some seek to release capital to pay down a mortgage. And, in other cases, life changes such as marriage breakdowns can also prompt subdivisions, as they facilitate a fair and equitable division of assets.”
How long does the rural subdivision process typically take?
Myles: “Rural subdivisions are generally straightforward but can still take at least a year from start to finish. If you are undertaking an environmental enhancement subdivision, which requires the establishment of bush or wetlands, these timeframes may be longer. Our planners and rural land development experts are skilled at navigating the process efficiently and keeping your project on track, freeing you up to focus on managing your farm.”
Simon: “While the subdivision process can be time-consuming, we work closely with the landowner to ensure you understand all your options and how the work can be economically achieved.”
Our advice is to start sooner rather than later.
Simon: “If your rural property has subdivision potential, it would be wise to start the process sooner rather than later. Getting your consent in place now can provide you with an action plan, considerable security, and land equity, as land development consents can be held for up to ten years.”
We’re here to help.
Our rural subdivision experts are available to provide support and guidance, helping you make informed decisions about the future of your farm. Contact Simon Reiher or Myles Goodwin and the Cato Bolam team.
