Wyckham Point

cash22

A friend of mine is looking at buying an apartment in the third Phase of Wyckham Point in Dundrum and was wondering what the current occupancy of the apartment complex is. The agents are telling him that there are 270 out of 300 apts occupied but we reckon this is a slight(!) exageration as there were only about 20 lights on when we went by last night.

Anyone know anything about or live in this complex??

super_furry

I drive by it most nights on the way home from work and it always looks deserted. What kind of prices are they going for at the moment?

Victor

Even a fully occupied apartment block will rarely look more than 40% occupied if you only count the lights.

dshakey

I am a resident here and the agent would be correct. we had our AGM the other week and we were tolf there is 35 apartments still to close.

stepbar

I wouldn't believe a word of what ANY estate agent tells you. I rang up about Crosbie Yard and was told that there was 25 apts left (after the receptionist told me there was 60). When challenged, or course she said the receptionist must have made a mistake. Then I went up on Saturday and was told that there was 60 left :rolleyes:

Depending on who you talk to, you should be looking at a rent yield of 6-7% (yes you read correct - rent yield) in order to determine the price of the house / apt you want to buy. Granted there are exceptions (
Shrewsbury Road would be one ) but generally not too many as if there was a market for a higher rent it would be rented at that price.

So the valuation formula goes as follows:

(Monthly Rent x 12 (less mgt fees or 10% expenses (can include mgt fees) which ever is higher)) x 16* = Price of House.

* 100/16 gives you 6% and so on.

dudara

super_furry wrote: »

I drive by it most nights on the way home from work and it always looks deserted. What kind of prices are they going for at the moment?

I think I saw 1 beds advertised for E250k (not sure mind, it was while flicking through the Sunday Times Home section).

Why were so many one-bed apartments built? - they're practically useless. At least two beds give people a chance for guests and/or starting families.

kelly11

dshakey wrote: »

I am a resident here and the agent would be correct. we had our AGM the other week and we were tolf there is 35 apartments still to close.

Hi there
I am just wondering does anyone know what they are doing with the 3rd block that is currently empty? they say they are not selling them until Autum 2010 but someone else told me they are going to be social housing.
Many thanks

Colonel Sanders

dudara wrote: »

I think I saw 1 beds advertised for E250k

Dear god, I know someone who recently sold their 3 bed semi D in Churchtown for 360k (no management fees either)