Would you buy this?

[Jacque]

From: J Parker


OK all-here's a scenario for you:

I agree to buy a house, only to find out pre-exchange that the land behind and beside the place is to be used for a fast food outlet (we're talking a big company here- no. 2 to Maccas!) In fact, the entrance will be right next door!

Should I still buy, but negotiate for a (much) lower price, considering that the rental return is still great (hey, employees could rent my place and skip to work!) or should I forget it altogether?

Does anyone own houses next door to these type of places, that they purchased prior to them being constructed? If so, have you found your property has devalued as a result? Be very interested to hear of people's experiences here...
Cheers, Jacque

 

[Sim]

Reply: 1
From: Sim' Hampel


Noise, smell and bright lights could be a problem for tenants... you should still be able to rent it out, but maybe not at the premiums you could have got otherwise.

How about corporate rentals ? Is the area and location suitable ? Would the council allow you to rent it out to as professional offices ?

Other suggestions... does the fast food joint need more carparking area ? Could you onsell to them at a profit ?

 

[duncan_m]

Reply: 2
From: Duncan M




The Ferals will love this rental! Imagine having a KFC or something else
right next door? Install PayTV and build a tacky bar with mirror tiles in
the corner of the loungeroom and you'd could charge $100pw over the market
rent for the area..

Seriously though, Fast Food outlets seems to clump together, if you could
subsequently get the land rezoned it may significantly increase the value.

Duncan