Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Clancy Quay beside Heuston Station? (Old thread)

Options
2

Comments

  • Options
    #32
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    madmoe wrote: »
    What is a firesale lads?

    No reserve auction where they take whatever bids they can get.


  • Options
    #33
    madmoe
    Registered Users Posts: 4,366 ✭✭✭madmoe


    Oooh la la, doubt that will happen with these units though......


  • Options
    #34
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    madmoe wrote: »
    Oooh la la, doubt that will happen with these units though......

    Not if the past four years has been anything to go by. Anecdotal evidence suggests that banks are willing to give mortgages but preferentially for properties on their loan books.

    Who is the bank behind Clancy Quay I wonder?


  • Options
    #35
    PriceWatch
    Registered Users Posts: 37 ✭PriceWatch


    Some movement down there...

    First apartment I've seen for rent...

    http://www.daft.ie/2950923

    Pricey & extra 50 euro for parking, it'll be the only car there!


  • Options
    #36
    madmoe
    Registered Users Posts: 4,366 ✭✭✭madmoe


    PriceWatch wrote: »
    Some movement down there...

    First apartment I've seen for rent...

    http://www.daft.ie/2950923

    Pricey & extra 50 euro for parking, it'll be the only car there!

    Defo pricey!!


  • Advertisement
  • Options
    #37
    conorhal
    Registered Users Posts: 6,997 ✭✭✭conorhal


    PriceWatch wrote: »
    Some movement down there...

    First apartment I've seen for rent...

    http://www.daft.ie/2950923

    Pricey & extra 50 euro for parking, it'll be the only car there!


    Jaysus.... I live just across the river in Bridgewater Quay (you can see it on one of those photos. For a similar rent I have a huge 3 bed (one en-suite) duplex apartment on the river from which I can stand on my balcony and look into the ghost town that is Clancy Quay.
    My guess is that somebody bought off the plans in 07 and now has a huge mortgage to cover.
    They have opened a college campus there for foreign students so they may get rental income from that source, but I can't see students paying that kind of rent.


  • Options
    #38
    madmoe
    Registered Users Posts: 4,366 ✭✭✭madmoe


    conorhal wrote: »
    Jaysus.... I live just across the river in Bridgewater Quay (you can see it on one of those photos. For a similar rent I have a huge 3 bed (one en-suite) duplex apartment on the river from which I can stand on my balcony and look into the ghost town that is Clancy Quay.
    My guess is that somebody bought off the plans in 07 and now has a huge mortgage to cover.
    They have opened a college campus there for foreign students so they may get rental income from that source, but I can't see students paying that kind of rent.

    Other half lives across the road in Bellevue and they is much better value to be had! More trees too :-)


  • Options
    #39
    RATM
    Closed Accounts Posts: 3,591 ✭✭✭RATM


    That apartment in Clancy Quay for rent at 1,175 per month is way off the mark. I was paying 1050 for a 2 bed in Riverbank House which is next to Clancy. And that was in 2007, the peak of the boom. I didn't have 2 bathrooms like this unit but it is just as pokey as the unit I did have.

    Should be more like 900 pm IMO. Is there still no shops opened up in Islandbridge? Pain in the ass I used to have walking a 25 minute return journey to Kilmainham for the Spar.


  • Options
    #40
    meglome
    Registered Users Posts: 7,980 ✭✭✭meglome


    Was across the river in a friends place last week and there wasn't a single light on in the Clancy Quay development, other than the street lights.


  • Options
    #41
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    It looks like there's some life here now.
    They've moved some of the barriers and a building behind the one with the taxi company is now occupied (looks 70%+).
    The other building on the main road looks 30% occupied.
    Place is still ghostly.

    Apartments for rent (from the developer by the looks of it):
    One bed - €1000 a month
    Two bed - €1200 a month
    Three bed - €1700 a month


  • Advertisement
  • Options
    #42
    con1982
    Registered Users Posts: 515 ✭✭✭con1982


    I went to view a 1 bed for 1,000 on Thursday last. They don't exist! The cheapest 1 bed is 1,100 without parking and parking is 100 extra. Three separate agents are trying to rent out the buidling. They lied through their teeth to get me to view the place.

    Beware!


  • Options
    #43
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    A grand a month is far too much for a one-bed anyway.
    You can get city centre one-beds for a lot less and be near things like shops and other amenities.

    Don't forget that this is a NAMA development so god knows what will be happening to it eventually (whenever the "long term economic value" hits jackpot). They certainly won't be finishing it. I do feel sorry for the people who put down deposits here and have been waiting for years to get their place.


  • Options
    #44
    meglome
    Registered Users Posts: 7,980 ✭✭✭meglome


    gaius c wrote: »
    It looks like there's some life here now.
    They've moved some of the barriers and a building behind the one with the taxi company is now occupied (looks 70%+).
    The other building on the main road looks 30% occupied.
    Place is still ghostly.

    Apartments for rent (from the developer by the looks of it):
    One bed - €1000 a month
    Two bed - €1200 a month
    Three bed - €1700 a month

    Jaysus. I was just living in a great 2 bed apartment in the city centre for 1100. Is anyone stupid enough to pay for these?


  • Options
    #45
    RATM
    Closed Accounts Posts: 3,591 ✭✭✭RATM


    meglome wrote: »
    Jaysus. I was just living in a great 2 bed apartment in the city centre for 1100. Is anyone stupid enough to pay for these?

    I doubt it, far better value in the market tbh. As this is a NAMA development I'd stay well clear for now, one of these days there'll be a shock announcement and maybe then the bargains will arrive. For now its untouchable at those prices.


  • Options
    #46
    madmoe
    Registered Users Posts: 4,366 ✭✭✭madmoe


    Crazy prices guys!


  • Options
    #47
    Delirio
    Registered Users Posts: 94 ✭✭Delirio


    Hiya,

    anyone knows how is the area now ? Any shops open at all ? Feedback about the apartments ?

    I've seen on daft new ads from Columbia Estates for renting in Clancy Quay.

    Cheers
    Andy


  • Options
    #48
    madmoe
    Registered Users Posts: 4,366 ✭✭✭madmoe


    Still looks deserted to me!


  • Options
    #49
    JuliusCaesar
    Registered Users Posts: 4,882 ✭✭✭JuliusCaesar


    I had a look one day when I was down in the Memorial Park across the way, and the security guard told me that there are 650 unsold apartments. The buildings look good, and there's a lovely model of what the completed development was supposed to look like in one of the 'shop' windows. The guard told me it wasn't in NAMA. Some good-looking buildings there, including the older ones - the converted stables. It's worth your while to go and see - only the apartment blocks fronting on to the main road have people living in them.


  • Options
    #50
    Delirio
    Registered Users Posts: 94 ✭✭Delirio


    Thanks for replies. I may just go for a walk that direction and see how it looks like, haven't been there for ages. Good to know there are so many unsold apartments, this will give me a good leverage when discussing renting prices eventually...


  • Options
    #51
    madmoe
    Registered Users Posts: 4,366 ✭✭✭madmoe


    I was full sure it was in NAMA....


  • Advertisement
  • Options
    #52
    Delirio
    Registered Users Posts: 94 ✭✭Delirio


    Delirio wrote: »
    Thanks for replies. I may just go for a walk that direction and see how it looks like, haven't been there for ages. Good to know there are so many unsold apartments, this will give me a good leverage when discussing renting prices eventually...

    Nothing to discuss, the place is awful (imho).
    Most of the apartment blocks are not even accessible, maybe 1/2 blocks are partially occupied. No shops, it is deserted. I'll be looking elsewhere...


  • Options
    #53
    uberwolf
    Registered Users Posts: 7,580 ✭✭✭uberwolf


    madmoe wrote: »
    I was full sure it was in NAMA....
    nope.


  • Options
    #54
    Apt.hunter
    Closed Accounts Posts: 1 ✭Apt.hunter


    uberwolf wrote: »
    madmoe wrote: »
    I was full sure it was in NAMA....
    nope.[/Quote

    Anyone know anything about renting in Clancy quay. I have seen an apt I like but it's not yet furnished, and they said they are taking cash only deposits and I can move in in a month. Is it all above board and why cash only?


  • Options
    #55
    tara73
    Registered Users Posts: 2,342 ✭✭✭tara73


    are there any news about clancy quay? is it much more occupied now? any shops opened?

    thanks for any infos.


  • Options
    #56
    RATM
    Closed Accounts Posts: 3,591 ✭✭✭RATM


    Passed it last week in the car and had a quick gander in - couldn't see any shops open- at least not in the units closest to the road.

    Anyone know what happened the college that was supposed to move in- did they in the end? And are they still there ?

    The whole development is bizarre, it seems like no-one is making decisions anywhere on what to do with it.


  • Options
    #57
    nomoreindie
    Closed Accounts Posts: 161 ✭✭nomoreindie


    According to todays Sunday Business Post, these are going to be sold in blocks, so a couple of hundred extra appartments should be available to rent soon


  • Options
    #58
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    nomoreindie wrote: »
    According to todays Sunday Business Post, these are going to be sold in blocks, so a couple of hundred extra appartments should be available to rent soon

    What's interesting is that it was supposed to be snapped up by "funds" but they are not interested and the whole lot will end up being firesaled by auction. That's a big red warning sign that they didn't represent value and that we're nowhere near the bottom yet.


  • Options
    #59
    conorhal
    Registered Users Posts: 6,997 ✭✭✭conorhal


    RATM wrote: »
    Passed it last week in the car and had a quick gander in - couldn't see any shops open- at least not in the units closest to the road.

    Anyone know what happened the college that was supposed to move in- did they in the end? And are they still there ?

    The whole development is bizarre, it seems like no-one is making decisions anywhere on what to do with it.

    It's slowly filling up, whoever own's/manages the complex seems to be fitting out the site block by block and renting out the units. The first two blocks on the river have been mostly let and now they have started furnishing apartments in the third block, leaving only the 4th block that's pressed up against the rail line empty. God knows who'd want to live in that block though, it's about 10ft from the line that runs under the park, they move rolling stock along that line during the night and they make a racket as they cross the metal bridge.
    I don't know if the language school lasted more then 5 minutes in the place but quite a large number of the apartments seem to occupied by arab families, there tends to be a lot of women wandering around in burkhas in the place, which might be off putting to some.
    The shops that are part of the complex will never be let of course, there is absolutely no chance of any business locating there.


  • Options
    #60
    RATM
    Closed Accounts Posts: 3,591 ✭✭✭RATM


    gaius c wrote: »
    What's interesting is that it was supposed to be snapped up by "funds" but they are not interested and the whole lot will end up being firesaled by auction. That's a big red warning sign that they didn't represent value and that we're nowhere near the bottom yet.

    It probably all depends on the price that NAMA or whoever it is that has Clancy Quay was asking for them. If it is NAMA then chances are they're asking too much.

    Pension funds will typically settle for a yield of 4-5% so if they weren't going to get that then they'd walk.

    Conversely I know from a mate who is tasked with off loading his clients property portfolio around Dublin that there are deals being done with pension funds and other vulture capitalists. Some American firm got an absolute bargain down in the Gasworks where they paid an average of €210k per unit. Which is a great deal as they're all renting for c.€1,400-€1,600 a month and they've got 2,500 odd Google staff working on their doorstep so no chance of any vacant periods.

    Pension funds will look for value so the fact they are about does signal that we are near a bottom. But being near a bottom doesn't mean it is going to shoot back up, we could just as easily stagnate for 10 or 20 years a la Japan.


  • Advertisement
  • Options
    #61
    RATM
    Closed Accounts Posts: 3,591 ✭✭✭RATM


    conorhal wrote: »
    It's slowly filling up, whoever own's/manages the complex seems to be fitting out the site block by block and renting out the units. The first two blocks on the river have been mostly let and now they have started furnishing apartments in the third block, leaving only the 4th block that's pressed up against the rail line empty. God knows who'd want to live in that block though, it's about 10ft from the line that runs under the park, they move rolling stock along that line during the night and they make a racket as they cross the metal bridge.
    I don't know if the language school lasted more then 5 minutes in the place but quite a large number of the apartments seem to occupied by arab families, there tends to be a lot of women wandering around in burkhas in the place, which might be off putting to some.
    The shops that are part of the complex will never be let of course, there is absolutely no chance of any business locating there.

    Good to hear it is filling up. Any ideas what 2 beds are renting for ?

    I'd say a small convenience store could make a few quid there. It wouldn't be terrifically busy but between Clancy Quay, Riverbank House, Bellevue, the council flats and Bridgewater Quay it would serve a catchment of about 1,500 people which should be enough to sustain it. It defintely beats walking all the way up to the Spar in Kilmainham or the Centra on Parkgate St, both of which are a 10-12 minute walk from Islandbridge.


Advertisement