Ferrybank Shopping Centre - Again

hardybuck

Finnbar01 wrote: »

And that is exactly what they should do. Dump the properties and sell them for what they're worth.

Let the market dictate the price.

With respect, that doesn't make sense. NAMA needs to provide a return for the Exchequer. If they lose money it costs the State more - that simple.

wellboytoo

Finnbar01 wrote: »

And that is exactly what they should do. Dump the properties and sell them for what they're worth.

Let the market dictate the price.

I'll ask you a question ? if four hundred tonnes of gold went on the market tommorrow what would happen to the price? and if forty thousand went the following day?

You cannot flood any market with too much of anything without catastrophic upheaval in the market.

Finnbar01

hardybuck wrote: »

With respect, that doesn't make sense. NAMA needs to provide a return for the Exchequer. If they lose money it costs the State more - that simple.

It makes perfect sense. NAMA cannot control the market as much as it may try. Also, what is happening to all that unoccupied property out there? It's rotten away, losing value everyday. and why do you think higher property prices are a benefit to the public?

I'll ask you a question ? if four hundred tonnes of gold went on the market tommorrow what would happen to the price? and if forty thousand went the following day?

You cannot flood any market with too much of anything without catastrophic upheaval in the market.

We need the market to clear. NAMA should ditch all of the property at once and be over and done with it. That will play a massive part in healing our economy.

wellboytoo

[QUOTE=Finnbar01




We need the market to clear. NAMA should ditch all of the property at once and be over and done with it. That will play a massive part in healing our economy.[/QUOTE]

Sounds like one of Sinn Feins sound bites with absolutely no thought behind it.

Finnbar01

wellboytoo wrote: »

Sounds like one of Sinn Feins sound bites with absolutely no thought behind it.

What a useless repsonse to my post. You can't argue with my points so you equate me with Sinn Fein and try to slander me. Big fail on your behalf.

Tell me why you think it is wise for NAMA to hold unto thousands of properties? Explain to me why rising prices in property is good?

Incidentally, I am a free market libertarian and therefore on the opposite end of the political spectrum to Sinn Fein.

Chiparus

SubBusted wrote: »

Why would people travel over the bridge to go shopping when they won't even visit the city centre anymore?

Actually, I think it would be quite successful , but from the opposite direction- New Ross.

hardybuck

Finnbar01 wrote: »

It makes perfect sense. NAMA cannot control the market as much as it may try. Also, what is happening to all that unoccupied property out there? It's rotten away, losing value everyday. and why do you think higher property prices are a benefit to the public?




We need the market to clear. NAMA should ditch all of the property at once and be over and done with it. That will play a massive part in healing our economy.

Yeah, look I'm going to walk away from this debate here after this post because you're just not making any sense.

I think in your own head you've simplified things to the extent of 'rip off the plaster' and sure we'll press ahead from there. To use a similar analogy, your proposal would be like ripping the stitching out of a wound you have from a recent surgery. You'd suffer massive blood loss and die. The same would happen to prices and as a consequence the wider economy.

You sound like you're interested in the area, why not pick up a couple of books from the library or impartial content from the internet on the area of macroeconomics in particular which would be very useful in informing you more on the topic.

wellboytoo

Finnbar01 wrote: »

What a useless repsonse to my post. You can't argue with my points so you equate me with Sinn Fein and try to slander me. Big fail on your behalf.

Tell me why you think it is wise for NAMA to hold unto thousands of properties? Explain to me why rising prices in property is good?

Incidentally, I am a free market libertarian and therefore on the opposite end of the political spectrum to Sinn Fein.

I tried to explain in my post but you ignored it, one more time, if there is to much supply the price drops, you want to dump what is the biggest property portfolio in the world, onto a seriously distressed tiny market on the west coast of Europe in the middle of the biggest recession since Christ was a young fella, because it would be good for us in the end!
Commercial property is below cost in Waterford at the moment I mean way below, what you are proposing is plain bananas, I never argued that rising property prices were good for anyone.
When I see bull I tend to say look at the bull.
I have no fu*king idea what a " I am a free market libertarian" is.
Now pick the bones out of that.

Finnbar01

wellboytoo wrote: »

I tried to explain in my post but you ignored it, one more time, if there is to much supply the price drops, you want to dump what is the biggest property portfolio in the world, onto a seriously distressed tiny market on the west coast of Europe in the middle of the biggest recession since Christ was a young fella, because it would be good for us in the end!

Yes, that is the only way. We need to liquidate the debt and allow the market to work and clear out the property market. That will be quite painful in the short term but there is no other way.

Again, what do you think is happening to all the unoccupied property controlled by NAMA?

I have no fu*king idea what a " I am a free market libertarian" is.

That is obvious.

Here is an example of a free market libertarian

https://www.youtube.com/watch?v=2I0QN-FYkpw

Sully

Folks, please keep to the original topic about the shopping centre and the legal proceedings as a result. Engaging in additional discussions surrounding NAMA, the market and so on, is not for this forum. Feel free to take it to PM or the Politics Forum. This is the only warning before infractions/bans are issued.[\b]

wellboytoo

Fair enough I'm finished here anyway

bilibob

Any update on the shopping centre lads? How is it all playing out with Dunnes? Is the Library still opening on the 4th of December?

danjo-xx

There is another hearing on December 14th, try n keep up:D

giles lynchwood

Judge Peter Kelly made the following comment in the circuit commercial court this week."while i am conscious of the fact that Dunnes employ 18000 people,they must honour their obligation like any other litigant".Sounds like a shot across the bow for Dunnes, hearing on 14th dec should make intresting reading.Ms Heffernan of Dunnes may well end up with Sean Quinn sr.

Dicky Pride

Went into the library and then took a few snaps:

Kotek Besar

Looks lovely. When is it opening?

Dicky Pride

June 2020.

Wallmart will be anchor tennants.

moonboy52

Beautiful building!

Such a shame it does not have someone like M&S as the main tenant plus HMV and a few more.

Kotek Besar

moonboy52 wrote: »

HMV

LOL

AdMMM

They should put a Comet in there too...

.Henry Sellers.

Dunnes Stores should go in there, would be perfect for them :pac:

mike65

Poundland Extra

pflanagan132

If Dunnes pay up the 20odd million, surely somebody could get it off the ground. Let quality tenants in at a low rent for a couple of years, anything is better than having a great facility gathering cobwebs

Kotek Besar

TalkTalk?

wellboytoo

Dicky Pride wrote: »

June 2020.

Wallmart will be anchor tennants.

Jesus Dicky you're the eternal optimist.

wmpdd3

More than anyone, I could see Tesco going in there. They'd 'secure' a low rent.

Dicky Pride

Kilkenny finally get a tesco...I like you're thinking...

Bards

It would be better if it were knocked, it's too big and in the wrong location.

The small shopping complex that is Ross Abbey( about same size as Ardkeen stores) should be opened instead.

Dicky Pride

Bards wrote: »

It would be better if it were knocked, it's too big and in the wrong location.

The small shopping complex that is Ross Abbey( about same size as Ardkeen stores) should be opened instead.

You're joking surely.

fricatus

Dicky Pride wrote: »

You're joking surely.

I doubt it, and I would tend to agree with Bards. That centre shouldn't have been built. It's the largest shopping centre in the south-east, even though it was ostensibly built to cater for the population of Ferrybank-Slieverue (10,000 tops).

Of course that's not why it was given planning. Basically Kilkenny County Council were only too happy to allow a huge suburban shopping centre to be built on the fringes of Waterford, where it could draw spending away from the rest of the city, and then hoover up the rate income into their own coffers.

It made no sense back when it was built and it makes even less sense now. Waterford City Council objected to it at the time and I can only imagine with the investments that have been made in the city centre, they would still object to it now.

It's a white elephant, and a dangerous one at that, because if it does open, it will offer super low rents, and shops in the city centre will move there - simples!

There was an award there lately where Kilkenny city topped the list for quality of life, and one of the reasons given is that it didn't allow loads of out-of-town shopping, preferring instead to keep retail in the central core, which makes for more footfall in the centre and a better quality of life overall. It would be ironic that Waterford would suffer the death of its city centre because of a decision made in Kilkenny that they wouldn't make in the case of their own city!