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Section 63 properties

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  • 28-04-2015 5:18pm
    #1
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭


    whats the latest on section 63 properties was a big issue with them a while back. Have owners been converting them or selling ? where have the tenants gone ? they usually were the students or non income options for singles


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    #2
    Victor
    Registered Users Posts: 78,423 ✭✭✭✭Victor


    handlemaster wrote: »
    Section 63 properties
    Do you mean pre-63 properties? That is built / converted before the Local Government (Planning and Development) Act, 1963?

    Some are non-compliant with current housing standards. Some have been updated to convert bed-sits to studios with their own cooking and bathroom facilities. Quite a few have been reconverted into single dwellings.


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    #3
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Have a drive around Rathmines/Ranelagh. Many streets that were once synonymous with this property type have been fully converted into single dwellings- and are now the remit of the affluent- or in an increasing number of cases, converted from residential to office use. There are also a significant and growing number of these on the market- 1.6-2m seems to be the going rate for some streets- significantly less for others.

    The flipside of the coin- is that some of these areas, which were traditional student haunts- are actually more vibrant and youthful than they ever were. There has been significant levels of development of high density housing in many of the areas with Pre-63 properties- much of it since the bust- and the areas in general are very popular.

    If you do buy one of these properties- it will most probably cost a significant amount of money to bring it up to code- regardless of the intended use- but redevelopment costs are still at (historically) reasonable levels.

    Personally- its not a project I'd take on- the propensity for uncovering serious issues is just too big a risk. I've seen entire buildings being gutted (my brother bought a property on Pembroke Road- that didn't even had a sound roof- or floors and when you opened the front door the wall of the adjoining property caved into the front hallway). There are gems out there- but there are some quite remarkable lemons too.


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