Transferable Development Rights offer a unique subdivision opportunity in the Auckland region. You are likely to encounter a range of different terminology when searching for this including Transferable Development Rights (TDRs), Transferable Titles, Transferable Title Rights (TTRs), Transferable Rural Lot Rights and Transferable Rural Sites, but they are all essentially the same thing.
TDRs can be viewed as the right to transfer a residential development or subdivision right from one rural property to another elsewhere in the district. More specifically, they are transferred from Rural Zoned properties to Countryside Living zoned properties. This provides a unique opportunity to some properties in the Countryside Living zone that otherwise could not be subdivided. Although the subdivision options can differ from one area to the next, the Auckland Council subdivision rules generally allow Countryside Living zoned properties to be subdivided to a minimum lot size of 2ha. However, they also offer an incentive where the use of a TDR allows you to reduce the minimum average lot size down to 1ha. This means that properties under 4ha in size that would otherwise not have been able to subdivide may do so. It also means that properties more than 4ha in size are able to achieve a higher lot yield through the use of TDRs.
TDRs can essentially be created by two methods. The first is when two rural properties sharing a common boundary are amalgamated into one. This creates a TDR that is able to be used in the subdivision of a Countryside Living zoned property. The other option is where TDRs are created through environmental protection of native bush and/or wetlands. The Council provides subdivision opportunities to properties that conserve native bush and/or wetlands and these opportunities are able to be converted into TDRs that can also be used in the subdivision of a Countryside Living zoned property.
A TDR type subdivision is a fairly complicated process that requires management of both the Donor property that provides the TDR and the Receiver property in the Countryside Living zone that is being subdivided. TSC has been managing these types of subdivisions for over 10 years and we have a number of sources of TDRs that we have pre-qualified to ensure your interests are protected. We provide the full package from end to end, so you are in safe hands when you get us to manage your TDR subdivision for you.