Would like some opinions on this. We're looking to purchase a 3 bedroom house in the southern part of west footscray. The property has a public acquisition overlay on it by vicroads. Currently nothing has been funded as im aware. Partner was interested in purchasing it so vicroads can grab it from us at market rate in future. Planned to renovate it to mark up the price but the closeness to the industrial area and the busy paramount road feels like it's already marking the value down on top of the PAO. perks of the house: near tottenham station large backyard 550+m2 cons: garage is pretty much what you'd see in the outback on a busy road w lots of trucks lack of amenities Do you reckon it's a bit risky? Just need to hear it from someone else and what they'd do.
I'd stay away Once you take in to account purchasing costs, selling costs and then purchasing costs of a new place, it probably removes a lot of the profit you would be seeking to make from Vic Roads Having been involved in compulsory acquisition for government before, home owners are often the losers. Constant delays from government, unable to sell on market given concerns from potential buyers etc
