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What's The Building Opposite Corrib Village?

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2

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    #32
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    Head The Wall wrote: »
    Build cost E12,000,000

    74 x 320000 = E23,680,000

    Thats a 100% markup if all the apartments were the same price. It was nice money if you got it.
    You forgot:

    1. Land costs
    2. Planning and Brown Envelopage
    3. Auctioneers % and advertising.
    4. Bank interest for say 2 years mid decade.

    Recalculate and repost!


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    #33
    Head The Wall
    Registered Users Posts: 2,892 ✭✭✭Head The Wall


    That's okay, sure we can't be expecting you to know everything as we would be spoilt then.

    It currently houses Hidden Hearing and Colleran Auctioneers.

    Answers on a postcard to ??????


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    #34
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    You can now buy the lot for a measly €1.4m
    10 x 3 / 4 Bedroomed Terraced Residences over 3 Levels & 4 x 3 Bedroomed Gate Lodges. http://www.daft.ie/searchcommercial.daft?id=101774


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    #35
    dendof
    Registered Users Posts: 218 ✭✭dendof


    Everytime I drive past I always wonder what they're like inside but still no pictures of the supposedly 'lavish' interiors that were to go in them.
    Would they not be better off selling them individually for around €150K or whatever. I suppose they don't want the hassle of shifting individual units and would rather one elite buyer to purchase the lot!


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    #36
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    Do people live there dendof? I don't go past that area. Are there lights on at night?


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    #37
    dendof
    Registered Users Posts: 218 ✭✭dendof


    No, I don't think anyone lives there but as far as I can remember when they were finished they were furnished to a high standard aswell but never sold for one reason or another.
    Probably all looted since anyway


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    #38
    JohnCleary
    Registered Users Posts: 10,210 ✭✭✭✭JohnCleary


    The irony of a Curley's Van plonked outside in one of the pics....

    Not many people are going to take the risk of spending 1.4 million at the minute for 10 units, knowing that there will be various annual charges to pay on these come next year (Property Tax, NPPR etc.)

    I suspect the management fee's won't be cheap either (although at least there's no fcuking lifts to maintain)


    Add all of these up, and you have substantial annual running costs.

    Now, if they were to be sold individually in the region of 100k, i'd expect a lot of interest


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    #39
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    An earlier poster had visited and described it thus: Saw inside them, plush is not the half of it.


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    #40
    Robbo
    Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 10,563 Mod ✭✭✭✭Robbo


    Sponge Bob wrote: »
    No idea at all, could have been a solicitors office and a dead letter drop.
    Colleran's Auctioneers if I remember correctly.


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    #41
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    Looks well priced for a quick sale. Receiver in a hurry I'll wager. :)

    There are relatively few Ghost estates in Galway City. I heard a small batch of semis in the same area is coming on the market in the next 2 months as well...again a receivership.


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    #42
    josey_whale
    Registered Users Posts: 284 ✭✭josey_whale


    It seems that some of them are not completed....

    "Eight of them are ready for fit-out while the remaining six will each require an expenditure of around €30,000 to bring them to completion"

    http://www.irishtimes.com/newspaper/commercialproperty/2012/0912/1224323899037.html


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    #43
    antoobrien
    Registered Users Posts: 6,106 ✭✭✭antoobrien


    The college would do well to pick them up on the cheap and use them as extra student housing. I'm sure some of the Newcastle residents wouldn't mind having less students around given all the complaints seen about the student's antics on various threads.


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    #44
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    Dunno how 'student proof' they are. :D


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    #45
    antoobrien
    Registered Users Posts: 6,106 ✭✭✭antoobrien


    Sponge Bob wrote: »
    Dunno how 'student proof' they are. :D

    Well at least the college would actually be getting the money out of them as AFAIK the developer of Corrib Village still has gets revenue from them.


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    #46
    Iwannahurl
    Closed Accounts Posts: 8,156 ✭✭✭Iwannahurl


    snubbleste wrote: »
    You can now buy the lot for a measly €1.4m
    10 x 3 / 4 Bedroomed Terraced Residences over 3 Levels & 4 x 3 Bedroomed Gate Lodges. http://www.daft.ie/searchcommercial.daft?id=101774

    JohnCleary wrote: »
    if they were to be sold individually in the region of 100k, i'd expect a lot of interest


    Well spotted.

    That's quite a bargain, I reckon. Maybe a Boards syndicate could make an offer...

    Dreary ad on Daft, by the way.


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    #47
    Iwannahurl
    Closed Accounts Posts: 8,156 ✭✭✭Iwannahurl


    Sponge Bob wrote: »
    Dunno how 'student proof' they are. :D


    Just skip the fit-out bit...



    Sponge Bob wrote: »
    There are relatively few Ghost estates in Galway City. I heard a small batch of semis in the same area is coming on the market in the next 2 months as well...again a receivership.


    Anyone know the story with these apartments on the Cappagh Road?


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    #48
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    They are another of the 'few' ghost estates in Galway. In receivership since late 2011 early 2012. Probably will go on the <cough> market </cough> by spring I reckon.

    There is a separate project behind that again on the Cappagh road, I know nothing of it.

    Here > http://goo.gl/maps/zUR3Y


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    #49
    swiftman
    Registered Users Posts: 697 ✭✭✭swiftman


    what about this place, in renmore, between gmit and kingfisher. looks in top shape finished and has plants and all on the balcony? https://maps.google.ie/maps?q=cappagh+road+galway&hl=en&ll=53.260888,-9.123566&spn=0.003408,0.009645&safe=off&hnear=Cappagh+Rd,+Galway,+County+Galway&t=h&layer=c&cbll=53.261158,-9.12402&panoid=8UlRghUdPNstyMG1lPuGiQ&cbp=12,31.06,,0,0&z=17


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    #50
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    That is occupied.


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    #51
    joeKel73
    Closed Accounts Posts: 3,689 ✭✭✭joeKel73


    Iwannahurl wrote: »
    Dreary ad on Daft, by the way.

    You'd think they'd get a decent photographer in to get some shots to sell it if they're trying to fetch €1.4 million.


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    #52
    JohnCleary
    Registered Users Posts: 10,210 ✭✭✭✭JohnCleary


    J o e wrote: »
    You'd think they'd get a decent photographer in to get some shots to sell it if they're trying to fetch €1.4 million.

    More than likely the vendor is simply trying to keep 'the boyos' happy and show that they are actively trying to sell assets to re-pay debts, but don't actually want the assets to go.

    Kinda like the wife making the husband sell the boat.... Husband put's it on the market (to keep the wife happy) at twice the price it's worth, so it's for sale but will never sell!


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    #53
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    The vendor is a liquidator, they want shot of it.


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    #54
    JohnCleary
    Registered Users Posts: 10,210 ✭✭✭✭JohnCleary


    Sponge Bob wrote: »
    The vendor is a liquidator, they want shot of it.

    Fair enough, didn't realise it was a liquidator selling off. Point I made above does happen quite regularly though,


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    #55
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    The same singular lack of photos indicates that the same liquidator is offloading this through the same auctioneer. :)


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    #56
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    Has this been sold, any activity going on around the premises?


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    #57
    swiftman
    Registered Users Posts: 697 ✭✭✭swiftman


    last i seen, a month or two ago it was going under the hammer. highest price gets it. didnt hear anything since


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    #58
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    Anything going on here. Are there lights on at night?


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    #59
    gordongekko
    Registered Users Posts: 5,301 ✭✭✭gordongekko


    snubbleste wrote: »
    Anything going on here. Are there lights on at night?

    comers bought that as well


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    #60
    JohnCleary
    Registered Users Posts: 10,210 ✭✭✭✭JohnCleary


    gordongekko wrote: »
    comers bought that as well

    Whoever got it did so at a good price, you'll get the yields on these units. I'd have loved to get a group of us together and bought


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    #61
    gordongekko
    Registered Users Posts: 5,301 ✭✭✭gordongekko


    JohnCleary wrote: »
    Whoever got it did so at a good price, you'll get the yields on these units. I'd have loved to get a group of us together and bought

    it went for more than the asking and there are some unfinished units


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