Gleann Na Ri - what is this actually?

CiniO

Just a quick look on property ad's and there seem to be few apartements in Gleann Na Ri, at fairly good prices - IMO suspiciously good.
What is this estate actually?
I quickly looked online and few adverts with apartments to rent (but not for students) and then few other websites which mention about student accommodation village at Gleann Na Ri.
I never really been around - so what is Gleann Na Ri actually, and what is the reasons for good few apartments being advertised for sale there at good prices?

Is it a normal estate where families or single people would rent and live?
I know it's not exactly in city centre, but it's not that far either.

ben.schlomo

CiniO wrote: »

Just a quick look on property ad's and there seem to be few apartements in Gleann Na Ri, at fairly good prices - IMO suspiciously good.
What is this estate actually?
I quickly looked online and few adverts with apartments to rent (but not for students) and then few other websites which mention about student accommodation village at Gleann Na Ri.
I never really been around - so what is Gleann Na Ri actually, and what is the reasons for good few apartments being advertised for sale there at good prices?

Is it a normal estate where families or single people would rent and live?
I know it's not exactly in city centre, but it's not that far either.

It was predominantly a student estate when built in the late 90s/early 00s. Still plenty of students there, not somewhere id want to buy or rent.

Irishgoatman

My Daughter and her partner have lived there very happily for about 2 years, one of my Granddaughters, her partner and their 2 young boys lived there for around 18 mths happily until recently and only moved as they found a place with lower rent.

For what it's worth I visit there on a very regular basis and there are plenty of familys with young children and I've never seen or heard of any problems.

CiniO

So does that look like a good estate to buy an apartment as investment (to let)?

BunkMoreland

Buying to let to students might be good. Buying to live in yourself would be noisy hell.

ben.schlomo

CiniO wrote: »

So does that look like a good estate to buy an apartment as investment (to let)?

If you buy cheap enough and have a small mortgage you should cover it easily enough for the 9 months that students are there anyway.

witnessrenegade

Theirs a number of blocks in Gleann Na Ri, I lived their while in college and some blocks were more noisy than others. If your looking into purchasing one I would suggest finding out which block the apartment is in and seeing how noisy it is during the first week of September as that is when the 1st years begin college and they will be hitting the drink hard that week! Apartments were fine though, pretty basic, think some had a problem with damp but that's about it!

Irishgoatman

BunkMoreland wrote: »

Buying to let to students might be good. Buying to live in yourself would be noisy hell.

I wonder if you've ever stayed there? I totally disagree with you.

I'm 70 years old, have stayed at my Daughters apartment many times and have never found it noisy, and, to put things in perspective, I live in a remote part of Mayo where it is extremely quiet so would be aware of noise.

BunkMoreland

I lived there for a year and nothing but noise from across the hall and below and above. The noise from 3am jungle music raves gets a bit old pretty quick.

You can't choose your neighbours so if you do buy to live in, and you get unlucky with neighbours, you're ****ed!

Mrs OBumble

Irishgoatman wrote: »

I wonder if you've ever stayed there? I totally disagree with you.

I'm 70 years old, have stayed at my Daughters apartment many times and have never found it noisy, and, to put things in perspective, I live in a remote part of Mayo where it is extremely quiet so would be aware of noise.

Do you know that Specsavers do hearing aids, too?

Irishgoatman

Mrs OBumble wrote: »

Do you know that Specsavers do hearing aids, too?

Implying that people of my age need glasses and hearing aids is very old and very poor schoolyard humour.
You've dissapointed me. If you'd said that listening to the Rolling Stones at full blast for the last 50 years can do that to you I would have totally agreed.:) (nowadays I turn the volume down a little).

Mrs OBumble

Nothing to do with your age. Everything to do with the fact that you stayed in Gleann Na Ri and didn't hear any noise.

Only one reason I can think of for that.

Wompa1

Irishgoatman wrote: »

I wonder if you've ever stayed there? I totally disagree with you.

I'm 70 years old, have stayed at my Daughters apartment many times and have never found it noisy, and, to put things in perspective, I live in a remote part of Mayo where it is extremely quiet so would be aware of noise.

A friend of mine lives there, he said there's constantly noise...also some pretty rough sorts down near the back\bottom of the place.

To the OP...I actually considered buy too, thinking well at least I could make some money during the college year and charge a pretty penny during Race week....I came to my senses though. Look at the price of rent...Even with how cheap they are to buy, with what you could charge for rent and get for rent during the summer (Assuming there will be some time in the Summer they would be vacant + the potential cost of refitting when the students clear off..after destroying the place) You won't get your investment back for probably 10+ years...

The apartment are Celtic Tiger era quality too. In 10 years when you can start turning an actual profit, the place will be a disaster zone.

Irishgoatman

The last word from me is that my Daughter must be in the best block. She has a ground floor apartment, very pleasant people in the apartments above (I've spoken to a few of them) and I've never seen any "rough sorts" in her area.

I've nothing to gain by making these comments, I'm just telling things as I've found them. Of course you hear some sound from the people directly above but that goes with any flat/apartment.

If I were going to move the first thing I'd do is walk round the area and speak to local residents. I certainly would not take any of the comments on this thread as gospel.

Just thought I'd add that my Daughter has to leave for work at 08:00 every morning so if it was as noisy as some are saying I think she would have moved by now.

shenanagans

The sale price maybe low but I think the management fees are very large in Gleann na Ri.

CiniO

shenanagans wrote: »

The sale price maybe low but I think the management fees are very large in Gleann na Ri.

Some ad's mention about €1600 per annum for 2 bedroom appartment.
Is that very high fee for Galway?

Crumbs868

CiniO wrote: »

Some ad's mention about €1600 per annum for 2 bedroom appartment.
Is that very high fee for Galway?

2 things I always check with management fees

1. What are you actually getting, some places have high management fees for a reason - multiple lifts, large landscaping, a lot of corridors (lights and paint), underground carpark, security infastructure, facade(painting). Therefore there shouldn't really be a trend by city, more you pay for what you are getting.

2. Who is paying it? Plenty of Celtic tiger complexs where people are not paying thereby affecting the sinking fund and wasting time / money trying to collect.

Make sure you request the financials for the management company, with a relative new build at the least you should see is cash building up for the enevatable elevator replacement(€45k++)