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Buying at Canon Hall (North Wall/East Wall) Area

  • 05-01-2018 12:00am
    #1
    Registered Users Posts: 2 KMT


    Hi everyone!

    Seeking some feedback/advice here.

    I am a first time buyer looking to purchase a 2 bed apartment (310K) with parking in Canon Hall which is at the East Road/Sheriff Street Upper cross roads. The development was built 8 years ago however the apartments have recently(across 2017) been put up for sale on behalf of NAMA. I currently have a deposit down on one.

    I was not familiar with the area but having done some research I can see that they are investing hundreds on millions into the area, with the likes of Facebook just expanded into a new office at the top of the East road and the development's that are planned and started in the areas around Speser Docks, The Central Bank, The Gibson and 3arena (mostly offices, Hotels and some accommodation). I hear they are also planning to put a bridge between the North and South Docklands area making it more convenient.

    After visiting the Dublin City Council I also discovered that they are building apartments in the 2 vacant sites to the front left and right of my apartment (which currently views the central bank)

    From what I can see it appears good value for money as the apartment is nice and in good condition in what looks to be a soon sought after and growing. For similar prices in other areas around Dublin apartments are much older and worse for wear.

    I do have some concerns with the lack of amenities in the area and it looks to be a harsh environment at times ( I have been driving and walking around the area a lot, both day and night). I haven't seen any trouble but it doesnt look to be the most attractive area currently, I am presuming with the investment in the area this may change.

    I am hoping to flip the apartment in 2-3 years to move to a house or hold onto it as a future investment if the yields make sense.

    Would love to hear peoples thoughts on that area and if it appears to be good value for money in the current market place?


Comments

  • Closed Accounts Posts: 29 ✭✭✭ Kieran01


    • I bought one too. Passed all the eng inspections & surveyor with flying colors. The only thing I dislike is the grounds and hallways etc are not greatly kept but my Eng reviewer had a word with caretakers and said now that management company will start getting money in that it should improve.
    • Some were also let out to council tenants as well previously so don't know if they will still be occupied - I saw one hallway full of buggies. Might be an issue for some people - not for me.
    • The lift isn't great but I'll get over that.
    • It's one of the last NAMA sell offs.
    • There was the issues with water damage but that only affected upper apartments which was resolved - https://www.independent.ie/irish-news/return-of-the-housing-bubble-one-thousand-suitors-eye-up-water-damaged-apartments-35516428.html .


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