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First up, I think you've outlined the reasons why I wouldn't bother.
But in any event, I'm ok with it's location. Pt. 5, related to the fact that it was an inconsiderate move by the last owners - I've always been conscious of boundary distances when planting trees. I know most people just bang whatever they want as close to their neighbour as possible without thinking.
Much like the location of our amazing hibiscus, or taking up the sunny side of the garden with sheds - they are choices I wouldn't have made. But as they've already been made it's best to live with them.
Just to play devil's advocate; why not get a mini digger in, dig a new hole and replant the original tree with rootball?
It will take a year to establish again and probably will look a bit sorry for itself during that year.