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Mullen Park Maynooth

2

Comments

  • Registered Users Posts: 940 ✭✭✭Fred Cryton


    Im not sure thats the case with a housing shortage.

    They are interested in the sky high rents available due to the shortage, there not interested in solving that problem and in the main are looking to lock in very high rents with long leases as they dont see supply improve anytime soon.


    It's not their job to solve the problem, they will charge whatever the market rent is. But pumping more cash into the market and building more and more homes can only put downward pressure on rent in the medium term. Nothing good can come from chasing away international capital on some silly lefty populist crusade and ending up with nothing being built.


  • Registered Users Posts: 2,569 ✭✭✭Yellow_Fern


    Has anyone confirmed whether Mullen Park was bought for private rent or for rental to the council for social housing?


  • Registered Users Posts: 5,368 ✭✭✭JimmyVik


    Has anyone confirmed whether Mullen Park was bought for private rent or for rental to the council for social housing?


    Or a housing charity.


  • Registered Users Posts: 9 marcelomaxaqp


    Any updates on how much % of social housing will be sold in Mullen park?



  • Registered Users Posts: 5,368 ✭✭✭JimmyVik


    So my friends finally got their deposit back last week.

    The EA told them that the only reason they are getting their money back is because a REIT is happy to buy the house instead.

    I think they dodged a bullet myself.

    I think they would have paid a fortune for a house that will probably go down in value while other estates go up in value.



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  • Registered Users Posts: 9 marcelomaxaqp


    from the last comments seems it would be only 10% of social housing, like on any new development by law. Would that be correct? or the state will purchase more houses than 10%?



  • Registered Users Posts: 2,045 ✭✭✭silver2020


    Do they know that Mullen Park is no longer being sold to a REIT and that the next phase will be going on general sale - and most likely at 10%+ higher than your friend agreed.

    The reason they are getting their deposit back is that it can be resold at €30k + higher.


    I never understand people's fears of REITs buying properties. If anything it is far better than individual landlords that tend to rent and then not care how a property is looked after. REITs are primarily pension funds - if you have a private pension, the chances are part of it is in a REIT.

    Too many people believe rubbish spouted by hysterical media who will create scare headlines, but will never show you how this works very well in other countries.



  • Registered Users Posts: 5,368 ✭✭✭JimmyVik


    Are you sure you are not the estate agent :)

    They simply dont want to buy in that estate anymore.

    They dont believe for one second that a big chunk of it will end up owned by councils, reits or housing charities. They have decided not to take the risk.

    It will only be known after all phases are complete and sold how much of it is not owner occupied it, but if its anything like ive seen in Donabate then I think they dodged a bullet.



  • Registered Users Posts: 2,045 ✭✭✭silver2020


    They should have kept an eye on the news - https://www.irishtimes.com/life-and-style/homes-and-property/maynooth-new-homes-back-for-sale-as-deal-with-uk-investor-called-off-1.4620252

    I suspect prices will be circa €450k for the 4 beds.

    Individual investors won't go for it as its too pricy.

    People with SSAP and other types of pensions now have huge hurdles under iorpsII rules. (I'm in that category and no longer looking for something, whereas I was looking for something circa 300k)

    REITS are not interested in just one or two, so the new stamp duty knocks them out of the equation.


    I think they made an error and should have looked at better advice and keeping abreast of news. If I were them, I'd try cancelling the cancellation.


    (if I was an ea or the developer, I'd gladly take the cancellation as its a very very easy extra 50k profit)



  • Registered Users Posts: 5,368 ✭✭✭JimmyVik


    They've already bought another house so it doesnt really matter to them at this point.

    It was scumy behaviour from the developer. If the developer can strike a mass deal like that once, then he is capable of doing it again if another offer comes in too.

    We still dont know what percentage of Mullen prak is not going to be owner occupied.

    At the time my friends bailed out it was very high. It probably is still going to be high, but i dont know what figure it will be at this point as ive lost interest, since they bailed. I dont know anyone else buying there so am not following it like i was.

    What I do know is that I would not be buying a house from that developer in the future unless i was really desperate for one.



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  • Registered Users Posts: 2,045 ✭✭✭silver2020


    I can't see what the issue is as these reits operate in many countries and manage their properties extremely well. They've been here for 10+ years, mainly apartments, and I don't think there's any anti social behaviour issues in their properties. Remember parties like sf/ira pbp and whatever shower paul murphy is with this week, will scaremonger and frighten people who have little experience in buying property.

    The developer is cairn homes - one of the largest developers in the country and they primarily sell to owner occupiers.

    Looking at their other developments, 90%++ are owner occupiers, so there will be little difference here. they also have the large Marianella development in Maynooth and a couple of others in the town, so the chances are your friend has bought from the same developer.


    People need to stop the unquestioned believing of the rubbish spouted by the leftist brigade in this country and do their own checks.



  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,520 Mod ✭✭✭✭L1011


    Mullen Park is not Cairn Homes.



  • Registered Users Posts: 5,368 ✭✭✭JimmyVik


    Or maybe they should start doing proper research and realize that yes, there is a problem with new housing estates of late :)



  • Registered Users Posts: 36,078 ✭✭✭✭LuckyLloyd


    There seems to be some misinformation or misunderstandings in the posts above. The future phases will not be sold to an investment fund or housing body. Also a different selling agent has been engaged for future phases.



  • Registered Users Posts: 5,368 ✭✭✭JimmyVik


    Glad you have confidence that they wont be sold to them. How much of the estate has been sold to them at this point?



  • Registered Users Posts: 6,179 ✭✭✭DaveyDave


    Anyone who thinks REITs aren't an issue are foolish. I live beside an apartment building that was bought by one of these crowds and now a handful of scumbags live there.

    None of the private houses on my road are an issue but the apartments there's constant noise from people coming home drunk every other day, drinking on their balconies until 6-7am, some lad got kicked out at 4am and was trying to kick the door in while she was shouting off the balcony. Random cars parked up blasting music at 2am, beer cans left behind.

    All it takes is one person to be an issue and there's 5-6 that I know of. It's non stop.

    Social housing will be enough of a burden for most homeowners, REITs will just add to the number of troublesome tenants to the estate and people shouldn't have to put up with it.

    Post edited by DaveyDave on


  • Registered Users Posts: 9 marcelomaxaqp


    How to be sure about the percentage to be sold to housing body (social)? Does the council provide this information?



  • Registered Users Posts: 64 ✭✭niniboots


    There is enough demand from general public, the developers weren't bothered the deal was off as they can get increased profit from private sales in this climate, they have had thousands of inquires already & Hooke Mcdonald only recently appointed new agents. Officially 20 homes from 115 are going to council. They are releasing 20 in September to general sale and the remainder in two more phases Dec & first qtr 2022. For anyone turning their nose up, well get in line because these will be snapped up as the rest of new builds have been!



  • Registered Users Posts: 130 ✭✭hi!


    Has anyone booked in the newest phase? We’ve put down booking deposit since investors pulled out :)

    Anyone from the first phase moved in? How how you found it? Can’t find a residents page on Facebook yet.



  • Registered Users Posts: 64 ✭✭niniboots


    We booked type G The Weir, really liked the design, it's huge. Garden is a postage stamp size though. Estate agent said they had huge waiting list already so despite the price increase we feel lucky to have secured. We have been trying to buy for 18mths. Queue of house viewers yesterday but all very coordinated!!!

    I don't think there is residents page but maybe someone from phase 1 set up.

    If anyone is interested or out of curiosity the type B lock 114 sq mtr mid terrace was 395k end terrace 425k and detached 450k. The three story 132sq mtr type G1 440k 3bed with study (but it's actually same house layout as 4bed) & three story 4bed, this is classed as 4bed as has extended roof136sq mtr 465k.

    EA said next release before Christmas and not sure prices will remain the same.

    Best of luck



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  • Registered Users Posts: 3,817 ✭✭✭Darc19


    Have to laugh at the political furore by sinn fein about a reit buying properties and renting them privately.


    Kildare CC have now purchased an additional 20 units (on top of the units they already acquired) and these will go to people on the housing lists. Effectively over 30% of the houses will be council houses - Sinn Fein thinks its fantastic.

    https://www.leinsterleader.ie/news/news/649619/controversial-mullen-park-maynooth-homes-now-to-be-sold-to-individual-buyers-not-investor.html



  • Registered Users Posts: 130 ✭✭hi!


    Thanks for your reply! Is the garden small on the type G? We saw the show house of the G1 and garden seemed to be a decent size. We never got to view the G type



  • Registered Users Posts: 6,179 ✭✭✭DaveyDave


    If you look up planning permission documents I believe it will have the sizes of each garden.



  • Registered Users Posts: 64 ✭✭niniboots


    The show house had little extra, the G1 that were available are all in block and similar size it was fine, but in comparison to the type B it's smaller. We went for inside size versus outside. There is small patio area also larger than G1 area. You can see from plans the actual size. House internally is great though 👌



  • Registered Users Posts: 5,391 ✭✭✭jozi


    Anyone able to tell me if they have internet providers setup and ready to go (who with) when they moved in?

    The website lists solar panels, I didn't notice them but I see some images on the site that have them, do all properties have solar?

    We looked at the show house today for the 4 bed, the amount of sockets in the bedrooms is quite miserable, anyone fitted more? It says wired for TV/internet throughout but I didn't notice anything in the bedrooms?



  • Registered Users Posts: 36,078 ✭✭✭✭LuckyLloyd


    Virgin have been installing in the area. There are data points throughout the house, wiring is available in every room. You will need an electrician to extend service throughout the house, a provider won’t do this and you’ll need to use a booster to extend Internet to the second floor.

    I believe all of the houses have solar panels.



  • Registered Users Posts: 36,078 ✭✭✭✭LuckyLloyd



    A stark indication of current market trajectory



  • Registered Users Posts: 8,239 ✭✭✭Pussyhands


    FFG TDs should be brought here and chained to the gates and left to rot.

    Inflation hits 5% for a couple of months and they introduce emergency measures and spend half a billion overnight to combat it.

    The twats think 5% is too high yet they put it into law that 4% annual rent increases were acceptable.



  • Registered Users Posts: 24 igord


    How are the people that bought into Mullen park finding it? Anything to complain about? I have a viewing this Friday and trying to collect any info I can get before i pull the trigger.

    Thanks



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  • Registered Users Posts: 2 f1sttimebuyer


    Did you end up buying?



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