Wyckham Point Phase II

Aemtler

Hi

I am looking at buying in the Dundrum area. I walk past the Wyckham Point development every day on my way to the Luas.

Phase II (block 3) of the development seems about 90% complete (basically it requires the internal apartment fitout) and it seems that it has been this way for the last five years. When this finally gets finished, it could potentially be somewhere I would be interested in buying.

Does anyone have any current updates on when this is likely to be completed/finished? Google does not seem to be my friend in this case.

It seems that it could take some pressure off the rents/prices in the area when it finally gets released. There must be over 100 apartment in Block 3

Thanks

PS - Check out the original brochure for some celtic tiger bullsh!t

http://omco.ie/images/stories/wyckhampoint-brochure.pdf

Santa Cruz

Aemtler wrote: »

Hi

I am looking at buying in the Dundrum area. I walk past the Wyckham Point development every day on my way to the Luas.

Phase II (block 3) of the development seems about 90% complete (basically it requires the internal apartment fitout) and it seems that it has been this way for the last five years. When this finally gets finished, it could potentially be somewhere I would be interested in buying.

Does anyone have any current updates on when this is likely to be completed/finished? Google does not seem to be my friend in this case.

It seems that it could take some pressure off the rents/prices in the area when it finally gets released. There must be over 100 apartment in Block 3

Thanks

PS - Check out the original brochure for some celtic tiger bullsh!t

http://omco.ie/images/stories/wyckhampoint-brochure.pdf[/QUOTE]

Correction. There are over 200 apartments there to be finished. No word when this will happen though

Aemtler

Thanks Jimiinho for your reply (it was on my email notification) but does not seem to be here. I guess 2015 sounds about right before they are on the market. I didn't realise that the management fees would be so high (nearly €3000) so that might put me right off.

Will see how it pans out.

Maximus Alexander

I am moving in to Wyckham Point at the end of the month (renting). The apartments are absolutely stunning. I had wondered about the unfinished block myself. With the demand so high in the area at the moment it seems like there would be a killing to be made from a couple of hundred apartments! They look so close to completion, but it's hard to say how much work actually needs to be done.

Aemtler

I walked past this morning. It seems that even the kitchens are completed in the apartments I can see from the road.

It could not be a huge amount of money to finish it off. Maybe the developer is holding back until apartment prices rise in the area.

GavMan

Maximus Alexander wrote: »

I am moving in to Wyckham Point at the end of the month (renting). The apartments are absolutely stunning. I had wondered about the unfinished block myself. With the demand so high in the area at the moment it seems like there would be a killing to be made from a couple of hundred apartments! They look so close to completion, but it's hard to say how much work actually needs to be done.

Demand to rent, possibly. Not sure how much demand there is to buy apartments in the area...

Maximus Alexander

GavMan wrote: »

Demand to rent, possibly. Not sure how much demand there is to buy apartments in the area...

True enough perhaps. But with an almost complete block sitting there, would it not benefit the developer to complete them, let them and bring in some money, rather than having them sitting there idle?

Maybe there's a good reason why they don't do this, but I can't see it.

If it's true that there are 200 apartments in that block, and they could be let at (a lower estimate) of 1300 per month, you're looking at €3.1 million a year in rent. Admittedly I have no idea what kind of money it would cost to finish them, or what the management fees would be like.

Idbatterim

for first let 2 bed in there you could achieve E1450 for sure, possibly more...

astrofool

Maximus Alexander wrote: »

I am moving in to Wyckham Point at the end of the month (renting). The apartments are absolutely stunning. I had wondered about the unfinished block myself. With the demand so high in the area at the moment it seems like there would be a killing to be made from a couple of hundred apartments! They look so close to completion, but it's hard to say how much work actually needs to be done.

Sometimes it can be ownership/legal issues delaying construction, rather than lack of demand (e.g. the developer of the site may be indebted and unable to free up cash to finish the site).

spaceHopper

To many traffic hassles with the shopping centre. I lived in Ballintyre for 4 years and loved it, good appartmens, nice grounds.... what about there anything for sale?

lovelystuff

Is there any way of telling when an apartment will be available to rent in wykham? I really want to rent there,but I'm worried nothing will come up in the next month...any ideas? Thanks

Santa Cruz

lovelystuff wrote: »

Is there any way of telling when an apartment will be available to rent in wykham? I really want to rent there,but I'm worried nothing will come up in the next month...any ideas? Thanks

Set up an alert with Daft so that when anything in Wyckham Point is advertised you get a text straightaway. Also why not call in and see the reception office there. They might have an idea when anything is coming up

lovelystuff

Santa Cruz wrote: »

Set up an alert with Daft so that when anything in Wyckham Point is advertised you get a text straightaway. Also why not call in and see the reception office there. They might have an idea when anything is coming up

I never realised you could do that with daft, I'll try it now thank you!

Aemtler

It looks like the apartments will be finished off and put up for rent, not sale.

http://www.irishtimes.com/business/sectors/commercial-property/property-investment-firm-hibernia-reit-in-67m-deal-1.1694748

Funkfield

Seem to be working on them the last couple of weeks. Anyone know any more about it?

markpb

JJ Rhatigan & Co (JJR) has been signed up to complete Hibernia REIT’s 213 partially-completed apartments in Block 3, Wyckham Point, Dundrum, Dublin 16. The building contractor will start on the site immediately with a construction team growing to approximately 160 people working on the project.

Hibernia said it expects the first apartments to be available to let by mid-2015 and that the project will be fully completed by the end of 2015. The total cost to complete the apartments is expected to be less than €25m.

link

awec

Nice.

I lived in Wyckham for a year and I loved it, best apartment I've ever lived in. These new ones have been sitting almost-finished for ages, it'll be interesting to see how much they go for.