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Sites at Huntington, Castleknock

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  • 02-08-2012 7:58pm
    #1
    SophieBelle
    Registered Users Posts: 8 ✭


    We are considering buying one of these sites but have a few concerns. We understand developer is still involved but each property is built by purchasers chosen builder. Does anyone know how many sites have been sold? Also concerned that no one has started building. We obviously don't want to be the only ones! Any information would be appreciated!


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    #2
    DublinDilbert
    Registered Users Posts: 5,379 ✭✭✭DublinDilbert


    They are actually a good location with access via blanch and Castleknock. There's no real way of knowing how many are sold, although quite a few have sale agreeded on them.

    There is quite a bit of old money around this area, but not sure how many people would have 200k cash at the minute. I would guess youd be looking at a similar amount to build a modest house on these.

    I would guess if they are sold, they were sold for cash, but that is just speculation on my part. I would also guess if they are being sold for cash they are going for much less than the asking.


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    #3
    Balarrr Didiarr
    Registered Users Posts: 40 ✭Balarrr Didiarr


    We've been watching these, have rented in area for a no. of years and interested in buying in area in near future. Having followed on daft.ie since they've gone back on the market ( ie from when original development ceased..boarded up..then put on sale as sites) 4 out of the 6 lots have gone sale agreed. When these are sold theres a row behind that'll go on sale then. I've seen people down on site but no work as of yet. I seriously doubt they'll get 200k, location is fab but the plans really turned me off. V similar to a duplex & if u go for a walk down there u can see foundations and there is literally no garden space to speak of. Looking close at the site foundations u can see they'll be on top of each other too, it turned me off & sad to say wasn't impressed at all.


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    #4
    SophieBelle
    Registered Users Posts: 8 ✭SophieBelle


    Thanks for all of your feedback. We too felt the sites looked very tight. We would be concerned that nothing seems to be happening despite the fact that one of the sites has been sold for a while. Would have thought now would be the time to start building before the winter!

    The plans have changed quite considerably since the sites were originally to be developed and there is now planning permission for 6 detached 2 storey houses and 3 detached 3 storey houses.

    We are concerned that as you have to build your own, what role does the developer have in finishing off development, i.e. road, lighting etc.

    I suppose it is quite an unusual set up as you are not building a one off house on its own site.


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    #5
    JupiterKid
    Moderators, Social & Fun Moderators Posts: 12,760 Mod ✭✭✭✭JupiterKid


    I live in Castleknock and know that site - it's just across from the entrance to Laurel Lodge.

    The site has laid abandoned for about 4+ years now. It was started just as the bottom was falling out of the property bubble. I was under the presumption that most of the foundations were already laid and these were for duplex/3 storey terraced which would have been the only way the original developer could have made a profilt out of that site at the peak of the property bubble.

    Lots of questions need to be asked:

    Is the site in the ownership of the developer or NAMA?
    What is the legal status of the site?
    How would purchasers of individual sites be able to build houses to their own spec if the foundations are for duplex and terrace?
    Will the foundatons have to be removed?
    What is the status of services to the site - electricity, water supply, sewage etc?
    How would the development be managed if and when eventually completed?

    If these questions are unable to be answered before you plan to purchase - I would avoid if I were you.


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    #6
    SophieBelle
    Registered Users Posts: 8 ✭SophieBelle


    That's what we were thinking.

    We are fearful that if developer went bust the development would not be completed. From what we can gather developer is not in nama.

    We understand that the services to the sites are already in place. Also the foundations appear to be those for the new planning permission which is for the 6, 2 storey detached houses at the front.

    If our questions are not answered I think we would be best avoiding going ahead.

    Still wonder why no one has started building. We are wondering if other builders are buying hoping market may improve in years to come and will leave sites vacant.


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    #7
    BostonB
    Closed Accounts Posts: 18,056 ✭✭✭✭BostonB


    I expect there aren't many builders or purchasers that can get the money, or loans from the bank to buy and build. So until the market recovers they will sit there. Its not that unusual. Back in the early 90's it was common to see a lot of stalled building projects and sites.


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    #8
    JupiterKid
    Moderators, Social & Fun Moderators Posts: 12,760 Mod ✭✭✭✭JupiterKid


    SophieBelle wrote: »
    That's what we were thinking.

    We are fearful that if developer went bust the development would not be completed. From what we can gather developer is not in nama.

    We understand that the services to the sites are already in place. Also the foundations appear to be those for the new planning permission which is for the 6, 2 storey detached houses at the front.

    If our questions are not answered I think we would be best avoiding going ahead.

    Still wonder why no one has started building. We are wondering if other builders are buying hoping market may improve in years to come and will leave sites vacant.


    The one position you don't want to be in is to have your house built and occupied and the other adjacent sites remaining undeveloped.

    I can't see how the developer of the Huntingdon site can hope to make a profit or break even with the revised planning permission for detached houses given the price they paid for the site back in the early/mid 2000s - or was it subsequently sold on to another developer?

    Obviously be very, very wary of anything the estate agent will tell you. It seems an odd time to be relaunching the development given that the bottom of the property crash has still not been reached yet.


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    #9
    SophieBelle
    Registered Users Posts: 8 ✭SophieBelle


    Very true!

    We also think the fact that sites are sale agreed for a period of time leads you to believe proposed purchases have same fears as us. Perhaps we are better off looking elsewhere for a house in the area that is built!

    Will be interesting to see what happens with that site in the future.

    Thanks for all you comments.


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    #10
    DublinDilbert
    Registered Users Posts: 5,379 ✭✭✭DublinDilbert


    JupiterKid wrote: »
    It seems an odd time to be relaunching the development given that the bottom of the property crash has still not been reached yet.

    It has to be a forced sale, I would imagine. Get back anything we can, rather than sit on the land for 10+ years. They've already sat on it for 4 years at the moment.

    I could only imagine what that site would of cost when it was bought for the development, considering the houses must of been aiming for €800K +


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    #11
    SophieBelle
    Registered Users Posts: 8 ✭SophieBelle


    We have made enquiries in the area (and also with agent). We believe developer is in difficulty and this site is being developed to help him back on the road, so to speak. He had other sites in the area (I think the one on college road) where a receiver was involved in selling both the site and house built on adjacent site which is currently for sale with Sherry Fitzgerald.


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    #12
    Sinda
    Registered Users Posts: 1 ✭Sinda


    Hi SophieBelle

    I don't know if you are still a registered user anymore but did you ever purchase a site on the Huntington Lodge development in Castleknock? We only ask as we were also very interested in 2012 but decided against it based on the same concerns outlined. We notice site number 3 is advertised again for sale and wanted an insight into developments since 2012. We are still not convinced any of the sites actually sold but have no way of really knowing.


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    #13
    SophieBelle
    Registered Users Posts: 8 ✭SophieBelle


    Sinda wrote: »
    Hi SophieBelle

    I don't know if you are still a registered user anymore but did you ever purchase a site on the Huntington Lodge development in Castleknock? We only ask as we were also very interested in 2012 but decided against it based on the same concerns outlined. We notice site number 3 is advertised again for sale and wanted an insight into developments since 2012. We are still not convinced any of the sites actually sold but have no way of really knowing.


    Hi we had been interested in buying a site and had actually gone sale agreed on our own house. We were told when deposit was returned that plans had been altered and development was not going ahead as previously agreed!

    We doubt too any of the sites have sold as none have appeared on property price register website. Perhaps there are caretakers in the house at gate?

    It is a mystery as to what is happening there. The houses at the front of the site look to be a different design but perhaps I am wrong. Certainly the sites are very tight.

    Perhaps the mystery will unfold in due course!!!


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