The Elysian (Idle tower)

eth0 · 21-01-2012 12:21AM #1

Whats the story with this yoke now? Has there been any reduction in prices to buy or rent? Is it still owned by the crowd that built it or been passed onto NAMA?

I remember when the thing was just finished they wanted 4,000 a year in management fees alone. Now you can obviously rent a quite nice apartment for just that

EyeSight · 21-01-2012 10:39AM

eth0 wrote: »

Whats the story with this yoke now? Has there been any reduction in prices to buy or rent? Is it still owned by the crowd that built it or been passed onto NAMA?

I remember when the thing was just finished they wanted 4,000 a year in management fees alone. Now you can obviously rent a quite nice apartment for just that

i know that once it was built they only put a number of them up on the market because they wanted to get maximum value once the recession ended. however i'm not sure they knew it would last this long....
i also heard(and this is only a rumor) that delegates of china bought a few

22-01-2012 04:46AM

... where are there nice apartments for 4000 per annum to rent?

evilivor · 22-01-2012 11:02AM

eth0 wrote: »

Whats the story with this yoke now? Has there been any reduction in prices to buy or rent? Is it still owned by the crowd that built it or been passed onto NAMA?

I remember when the thing was just finished they wanted 4,000 a year in management fees alone. Now you can obviously rent a quite nice apartment for just that

It's in NAMA.

Owen · 22-01-2012 11:34AM

RoverJames wrote: »

... where are there nice apartments for 4000 per annum to rent?

I was thinking the same. 4k is 330 a month! The cheapest apartment in Cork is double that!

The Elysian is a beautiful building in my opinion, and if I didn't have a business to run, I wouldn't mind living there. The penthouse has a Porsche designed kitchen. Insane stuff - real remnants of the Celtic Tiger.

eth0 · 22-01-2012 02:44PM

There are some things in daft for ~75 a week on Daft. they wouldn't be the best but feck it they don't require you to spend a few 100k on buying the apartment first before you can rent it at that price. If you go to the smaller towns you can get nicer apartments for the same amount.

What services would they provide for the 4k?

Owen · 22-01-2012 02:45PM

75 a week sounds like a share or dingy bedsit/flat rather than an Apartment on it's own?

eth0 · 22-01-2012 02:57PM

Owen wrote: »

75 a week sounds like a share or dingy bedsit/flat rather than an Apartment on it's own?

Haha could be alright. maybe rent hasn't dropped so much in Cork as in other places.

I just know in letterkenny there are nice places for 60, but unfortunately when I tried to rent them they asked

"Are you a student?"

"Thats right"

"Oh..... reference ... deposit ... the owner doesn't want to hear about students"
and every other excuse they could think of

evilivor · 22-01-2012 09:40PM

According to a feature on the Elysian's developer in the Sunday Times today: "about 30 of its 211 apartments are occupied but Nama has given approval for more rentals. Sales are not being considered for now."

Owen · 22-01-2012 09:41PM

They're probably talking about the rest of the complex though, the tower seems to be permenantly empty.

mik_da_man · 22-01-2012 10:17PM

There are at least 3 apartments occoupied in the tower.
I know of one guy living up there, but he said it' pretty damn quiet

H8GHOTI · 22-01-2012 11:54PM

RoverJames wrote: »

... where are there nice apartments for 4000 per annum to rent?

Owen wrote: »

I was thinking the same. 4k is 330 a month! The cheapest apartment in Cork is double that!

The rent isn't 4k a year.
OP said management fees were.

daveyjoe · 22-01-2012 11:59PM

H8GHOTI wrote: »

The rent isn't 4k a year.
OP said management fees were.

No, read it again. He said you could rent a nice apartment for 4k a year.

23-01-2012 12:01AM

eth0 wrote: »

Whats the story with this yoke now? Has there been any reduction in prices to buy or rent? Is it still owned by the crowd that built it or been passed onto NAMA?

I remember when the thing was just finished they wanted 4,000 a year in management fees alone. Now you can obviously rent a quite nice apartment for just that

H8GHOTI wrote: »

The rent isn't 4k a year.
OP said management fees were.

I know what the OP said

That chap that was on the apprentice two years back used to live in the Elysian in a penthouse, something Walsh, forget his first name, poker player chap, his Dad owns Walsh's engineering supplies.

daveyjoe · 23-01-2012 02:30AM

RoverJames wrote: »

I know what the OP said

That chap that was on the apprentice two years back used to live in the Elysian in a penthouse, something Walsh, forget his first name, poker player chap, his Dad owns Walsh's engineering supplies.

Kieran Walsh

... I'm confused are you the same person as H8GHOTI? The OP said you could rent a nice apartment in Cork for €4K/year (which is equivalent to the management fees at the Elysian), at no point did anybody on the thread think that the rent for an apartment in the Elysian was €4k/year (as you implied).

Anyway this is all off-topic so I'll stop now

23-01-2012 02:38AM

daveyjoe wrote: »

Kieran Walsh

... I'm confused .:..............at no point did anybody on the thread think that the rent for an apartment in the Elysian was €4k/year (as you implied).

Anyway this is all off-topic so I'll stop now

Where did I imply that?

daveyjoe · 23-01-2012 02:41AM

RoverJames wrote: »

Where did I imply that?

I thought you were the same person as H8GHOTI since you replied to my post that was adressed to him. Anyhow no worries, best leave my handbag at home for this one.

FungiWalsh · 23-01-2012 06:54AM

RoverJames wrote: »

I know what the OP said

That chap that was on the apprentice two years back used to live in the Elysian in a penthouse, something Walsh, forget his first name, poker player chap, his Dad owns Walsh's engineering supplies.

I can tell you without doubt that this isn't true.

23-01-2012 11:47AM

Oops, 'twas someone working for his Dad had told me that.

opus · 23-01-2012 03:57PM

eth0 wrote: »

Whats the story with this yoke now? Has there been any reduction in prices to buy or rent? Is it still owned by the crowd that built it or been passed onto NAMA?

I know someone living there, their rent is €1300/month. So if you use the normal rent to value calculation (rent x 11 months x 15 years) you get a value of ~€214500 for that 2-bed flat, the asking price is north of €600k :eek: so would anyone be surprised that it's empty & going to stay that way for a long time to come!

iliketeaandcake · 23-01-2012 10:28PM

Judging by this video it has been put to good use by a nimble mad man..
http://www.youtube.com/watch?v=qdLuIRSpcsQ

The ground floor of the tower has been used for art exhibitions last year. It is completely unfinished - no lighting/heat etc. I was informed that the few residents of the tower had to be moved out and reimbursed due to management and security costs not being met. It is basically a shell. The apartments beside it however are part of the same complex and are somewhat inhabited.

bladebrew · 23-01-2012 11:34PM

there is someone that posts on here that made an offer on an apartment and was told they dont accept offers:eek:
this may be the guy from the apprentice,

they have a good website in fairness, floorplans for all the apartments
http://www.theelysian.ie/

i would love a look at the triplex penthouse!

iDann · 24-01-2012 12:04AM

I think Apple should open their first official store there,it would suit them.

GavRedKing · 24-01-2012 04:01PM

bladebrew wrote: »

there is someone that posts on here that made an offer on an apartment and was told they dont accept offers:eek:
this may be the guy from the apprentice,

they have a good website in fairness, floorplans for all the apartments
http://www.theelysian.ie/

i would love a look at the triplex penthouse!

A few stock pictures from inside but ya can get the gist of it.

Looks great.

http://www.property.ie/property-for-sale/The-Elysian---Type-W20---3-Bed-Triplex-Penthouse-The-Elysian-Cork-City-Centre-Co-Cork/441612/

http://www.christiesrealestate.com/Property/Ireland/Cork/69054

^ €2,000,000. :pac:

Oafley Jones · 24-01-2012 07:40PM

iDann wrote: »

I think Apple should open their first official store there,it would suit them.

Not really,

1. It has no architectural merit. It really is a dreadful looking building.

2. It's in a terrible location.

eth0 · 24-01-2012 09:04PM

iDann wrote: »

I think Apple should open their first official store there,it would suit them.

I think Apple should go and take a long walk off a short pier or the top of the Elysian. I'm using a Mac now and my god it is some hape of shoite

out da lough · 25-01-2012 10:51AM

The views from the Elysian must be great. The only problem I would imagine for someone living there now is that they will get used to the peace and quiet, and when the place eventually fills up (as it will do) they will have to get accustomed to all the noise and bustle.

I would imagine it will take about ten years for it to be filled, which will be 2022.

evilivor · 25-01-2012 11:05AM

out da lough wrote: »

The views from the Elysian must be great. The only problem I would imagine for someone living there now is that they will get used to the peace and quiet, and when the place eventually fills up (as it will do) they will have to get accustomed to all the noise and bustle.

I would imagine it will take about ten years for it to be filled, which will be 2022.

You'd think so - but they're rather overwhelming - you get no sense of the scale of the city in the same way as you do from the top of County Hall - the views south are okay, but the city views are rather, dull. I was in the penthouse suite for an event and I wouldn't take a present of it.

The only way the building is ever going to fill up is if the City Council take it in hand and fill it with tenants.

gbee · 25-01-2012 11:50AM

Oafley Jones wrote: »

Not really, 1. It has no architectural merit. It really is a dreadful looking building. 2. It's in a terrible location.

This was built at the edge of the site on demand from the then City Manager to force a streetscape. This precise location within the same site was not it's original position.

We will probably end up with three towers, one where the old CIE freight yard is, on down near old Dunlops and this one.

It has been suggested that these towers were to go to the new quarter old Dunlops/Ford site but this has not materialised. IMO it was an opportunity missed as we'll have awkward fingers in the sky and no shape.

gbee · 25-01-2012 11:51AM

out da lough wrote: »

and when the place eventually fills up (as it will do) they will have to get accustomed to all the noise and bustle.

Ya, it'll be another Ballymun.

ResearchWill · 25-01-2012 12:05PM

iliketeaandcake wrote: »

Judging by this video it has been put to good use by a nimble mad man..
http://www.youtube.com/watch?v=qdLuIRSpcsQ

The ground floor of the tower has been used for art exhibitions last year. It is completely unfinished - no lighting/heat etc. I was informed that the few residents of the tower had to be moved out and reimbursed due to management and security costs not being met. It is basically a shell. The apartments beside it however are part of the same complex and are somewhat inhabited.

The story of people being moved out, in relation to any part of the building is an urban myth. How do I know, I live there and have done for almost 3 years. The complex is maintained to a very good standard, the garden is kept very well with a guy working on it a fair bit. Security is very good with a person on reception 14 hours per day, then a remote presence at other times. I am renting, as soon as the place fills up I'm out of here it's lovely at the moment but 211 apartments full would be a nightmare.

The Elysian (Idle tower)

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