Big development to go down the tubes?

galwaybabe

Was just reading on the property pin that there are rumours of "a very big project going wallop" in Galway. Any substance to this?

kayos

Heard rumors about crowne plaza, or what ever its called, from someone in the construction business over the weekend. But thats more of a "on hold" than a down the tubes.

galwaybabe

I had a feeling it might be that place alright

s_carnage

galwaybabe wrote: »

I had a feeling it might be that place alright

Going past there on Friday and they were still building away at it. A friend of mine who works with a plastering company has just put in a quote there last week for the plastering work so unless something happened at the weekend...

Mrs OBumble

Went past in the bus this morning, didn't get a good look, but I have a feeling that some of the black hoardings saying "Crown plaza" have been replaced by plain green ones with a construction company's name on 'em.

I could be mistaken but am pretty sure that something on the site looked different.

quietobserver

galwaybabe wrote: »

Was just reading on the property pin that there are rumours of "a very big project going wallop" in Galway. Any substance to this?

paper never refuses ink and journalists dont make money if they dont write something so giving a general some ones in the red paragraph in a paper wouldnt get much odds in a bookies for probability they would be right.
I'd say the star signs have about as much credibility

alls going well in the crown plaza, im not involved in construction, personally i hope it all excels and they build a fine spot.im sure thats most peoples intentions too but i do sense lately an atmosphere of almost speculating whose holding a brave face and whose in trouble, no one wishes to give credit to those who are still employing and working through this so called recession.

Robbo

quietobserver wrote: »

alls going well in the crown plaza, im not involved in construction, personally i hope it all excels and they build a fine spot.im sure thats most peoples intentions too but i do sense lately an atmosphere of almost speculating whose holding a brave face and whose in trouble, no one wishes to give credit to those who are still employing and working through this so called recession.

Maybe you could start the ball rolling with a list of "Galway's Bravest Builders: A tribute to the most stoic and honourable property speculators"?

fergiesfolly

Heard the same story last week from someone who had worked on the site, but they reckoned it was down to losing the anchor tenant(not for the first time) and not financial problems with the builders as stated on Proprety Pin.

PopeBuckfastXVI

Tribune: Rumours of development collapse 'Absolute Nonsense'

http://www.galwaynews.ie/5098-rumours-development-collapse-039absolute-nonsense039

kayos

fergiesfolly wrote: »

Heard the same story last week from someone who had worked on the site, but they reckoned it was down to losing the anchor tenant(not for the first time) and not financial problems with the builders as stated on Proprety Pin.

Yup thats exactly what I heard last weekend, waiting on a main anchor to sign up. As I said in my earlier post it was going on hold, not going down the tubes

JamesStephens

Seems it was a tribune journolist who wanted the info so at the start of the thread. fk off and do your own research. I know guys who work there and your speculoting is putting his job in jeopardy.

galwaybabe

JamesStephens wrote: »

Seems it was a tribune journolist who wanted the info so at the start of the thread. fk off and do your own research. I know guys who work there and your speculoting is putting his job in jeopardy.

I bet the only exercise you get is jumping to conclusions

JohnCleary

galwaybabe = Tribune employee?

OR

OP on PropertyPin thread = Tribune employee?

JohnCleary

galwaybabe wrote: »

I bet the only exercise you get is jumping to conclusions

LOL Post of the week

biko

Goddammit this forum is rife with unfounded speculation and rumors.
Worse than a ladies knitting circle :mad:

JamesStephens

So now we know what paper has being flying a kite on these threads for the past year or so. Stirring it up. They werent' halve as fast to write about there own layoffs when they got rid of the printers and flung there cheques at them.

Malice

Where is that Crowne Plaza development?

Fozzie Bear

malice_ wrote: »

Where is that Crowne Plaza development?

In mervue on the site of the old Crown Controls factory hence the name Crown Plaza. Right beside the Eircom building.

I have heard from several different people here in work this morning that Rhatigans are pulling out of this project. Rhatigans are a customer of ours and that news came from the horses mouth apparently. As a result of this Oran Pre Cast laid off 30 workers last week.

You would hope Rhatigans could work out their problems before it came to this. Will have a knock on affect for a lot of people.

Xiney

That is terrible news for sure :-\

Bass Cadet

Yep, looks like Rhatigans are definately pulling out...disaster

big b

anyone got anything concrete (sorry!) on this, or is it another Cunningham Higgins...I heard it through the grapevine?

mikom

quietobserver wrote: »

alls going well in the crown plaza,

Not very observant of you.

kayos

Bass Cadet wrote: »

Yep, looks like Rhatigans are definately pulling out...disaster

Really? Would like to see a link to that considering this only came out last Friday.

Bass Cadet

kayos wrote: »

Really? Would like to see a link to that considering this only came out last Friday.

No link...my house mate who was working on the site told me that its fecked

skelliser

heard they shut the gates yesterday

futura123

very bad news but not unexpected in this current climate

aoraki

The development in question is the one in Mervue, called Crowne Square, or something like that, right?! I just drove by it 20 mins ago, and it looked very open to me. People working on site as usual. Are we talking about the same site?

Maybe they closed the gates on Friday evening because it was, you know, the weekend?...:rolleyes:

Fozzie Bear

aoraki wrote: »

The development in question is the one in Mervue, called Crowne Square, or something like that, right?! I just drove by it 20 mins ago, and it looked very open to me. People working on site as usual. Are we talking about the same site?

Maybe they closed the gates on Friday evening because it was, you know, the weekend?...:rolleyes:

They are finishing off a certain amount of work to prevent it from deteriorating when the site closes down. It maybe a case of it closing for months or much longer unfortunately. Rhatigans were unable to raise enough capital from the banks to continue with construction. Site is in the process of being wound down. We can expect to a lot more of this in the coming weeks.

Webbs

So will Rhatigans be winding up all their sites across Galway or just that one?

JIZZLORD

so the rumors that rhatigans are gone bust where just hearsay then?

sgthighway

I reckon they won't go bust but they will probably stop the development instead of putting money from the bank into it. I also reckon they would probably have a much better credit history than some of the other developers in Galway. The likes of O'Malley's, Rhatigans & Stewarts are massive Contractors that will see out these bad times. They stand behind their good names unlike a lot of other individuals who setup company after company with a slightly different name with a different family member as the MD.

Fozzie Bear

Webbs wrote: »

So will Rhatigans be winding up all their sites across Galway or just that one?

I think its just this one for now? I know they are still working away on the development in the middle of Oranmore town across from McDonagh's/Thatch pub.

quietobserver

JIZZLORD wrote: »

so the rumors that rhatigans are gone bust where just hearsay then?

far as i know the prospective main tennant fell through and that led to the short fall in Euros. But they arent gone bust, cost cutting measure, onwards and upwards.

snubbleste

I don't live out the Mervue direction, what's the status on the Crowne development? Is there any activity?

big b

quietobserver wrote: »

far as i know the prospective main tennant fell through and that led to the short fall in Euros. But they arent gone bust, cost cutting measure, onwards and upwards.

I think that was actually the part fronting onto Tuam Road, which is being developed by Stewart, not Rhatigans. Could be wrong though.

quietobserver

snubbleste wrote: »

I don't live out the Mervue direction, what's the status on the Crowne development? Is there any activity?

is this just a random thought or trying to drag info from somebody?

snubbleste

quietobserver wrote: »

is this just a random thought or trying to drag info from somebody?

I want to know if it's shut or what the story is, provoked by that empty commercial buildings video from yesterday, if you must know..
Maybe i should've started a new thread.

quietobserver

snubbleste wrote: »

I want to know if it's shut or what the story is, provoked by that empty commercial buildings video from yesterday, if you must know..
Maybe i should've started a new thread.

not that i must know, but as i stated before there seems to be a culture of almost glee to see developers having tough times.

to answer your question, place is closing down for 2months anyhow.

snubbleste

quietobserver wrote: »

not that i must know, but as i stated before there seems to be a culture of almost glee to see developers having tough times.
to answer your question, place is closing down for 2months anyhow.

Thanks, It's closing down and then work is restarting? when?

And yes it's a bit of gleeful on my part to see developers who hoarded landbanks, thereby increasing property prices for the public getting a bit squeezed.

Robbo

quietobserver wrote: »

not that i must know, but as i stated before there seems to be a culture of almost glee to see speculators having tough times.

to answer your question, place is closing down for 2months anyhow.

FYP.

quietobserver

Well if it wasnt gleeful i might be more inclined to contribute what i know.

Ive nothing to gain from developers and dont see anything positive out of judging what they did or do, its most probably the nature of the industry they are in, if they dont do it someone else will.
You could say the same at all levels of society. Personally i think everyone contributes at different levels to the world we live in and people with less to do that speculate about whose gone or going bust need to get a life.
Its sad to see someone with little else to do that enjoy someone elses misfortune. Pathetic.

dinneenp

Presume Crowne Square is on 'indefinite' hold?

soundbyte

dinneenp wrote: »

Presume Crowne Square is on 'indefinite' hold?

http://yozh.org/images/zombie-thread.png

Sponge Bob

PopeBuckfastXVI