WERRIBEE > Riverwalk by VicUrban

How you guys think about the new development in Werribee by VicUrban

http://www.vicurban.com/cs/Satellite?c=VPage&cid=1285731030539&pagename=VicUrban%2FLayout&site=VicUrban

alanrrll said:

How you guys think about the new development in Werribee by

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It will forever be known as 'that estate near the sewage farm'.

It's physically close to the Werribee CBD which is good. But there appears to be only one road there - Princes Hwy.

You would need to watch traffic levels there since the community will not be self-contained and especially in the early stages residents will need to drive on it several times a day for any employment, schooling or shopping need.

A local commuting issue is the time it takes to get onto the freeway from many parts of Werribee/Hoppers. Riverwalk may be better positioned in this regard.

Because it isn't on the way to anywhere there is unlikely to be ever good public transport. The best that could be expected is an extension of the limited-service bus route 441 that serves Westleigh Gardens.

In contrast the location amenity of the established east bank of the Werribee river is first-rate with everything in walking distance.

I would like to buy an IP there as there're many things happening in that area:

For example:
Werribee Transit City http://www.wyndham.vic.gov.au/business/investing/cbd/strategicplans

alanrrll said:

I would like to buy an IP there as there're many things happening in that area:

For example:
Werribee Transit City http://www.wyndham.vic.gov.au/business/investing/cbd/strategicplans

Click to expand...

If I had a dollar for every plan that government produced I'd be very rich. Most sit on the shelf and are not pursued. Or the government tries and private money thinks elsewhere. Either way there's no effect on property values, though estate agents like to talk about plans to generate buzz and excitement.

So reading plans is very interesting, but there's enough failed plans to realise these plans should only be 5% or less of the reason for choice of location.

And some plans look good but may not be when examined further.

For instance the proposed Regional Rail Link (whose future is now being questioned) would have severed the Werribee - Geelong line at West Werribee. Central Werribee would lose its direct trains to Geelong, and thus the possibility of developing as a regional centre that people in Geelong/Lara could easily commute to. In rail transport terms Werribee would be downgraded to backwater or dead end status, much like a Lilydale rather than a Sydenham or Pakenham.

I bought a piece of land there end of last year (first release)and thinking about selling it as they asked for 10% depositand i used credit card to pay for most of it.
Other than the deposit,no regrets of buying there as it's quite nice location and is good overall investment.