The Comer brothers

rainybillwill · 20-07-2019 5:48pm #1

It seems the Comer Brothers are holding Galway city back. The McHale Group and comer brothers are sitting on countless sites in the city and are neither developing or selling them to delevopers. Added they own countless houses and apartments they want a continued housing shortage in Galway city.

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gordongekko · 20-07-2019 6:14pm

rainybillwill wrote: »

It seems the Comer Brothers are holding Galway city back. The McHale Group and comer brothers are sitting on countless sites in the city and are neither developing or selling them to delevopers. Added they own countless houses and apartments they want a continued housing shortage in Galway city.

and ?

rainybillwill · 20-07-2019 6:42pm

gordongekko wrote: »

and ?

It seems you deleted your post by mistake before it posted?

20-07-2019 7:05pm

rainybillwill wrote: »

It seems you deleted your post by mistake before it posted?

Lol, he was asking what your point is

Plumbthedepths · 20-07-2019 7:14pm

rainybillwill wrote:

It seems the Comer Brothers are holding Galway city back. The McHale Group and comer brothers are sitting on countless sites in the city and are neither developing or selling them to delevopers. Added they own countless houses and apartments they want a continued housing shortage in Galway city.

They are speculators just doing what speculators do. A proper enforced vacant site tax would deal with the issue.

bertsmom · 20-07-2019 7:45pm

I'm not being deliberately rude but if someone has paid for a site is it not their own business what they do or don't do on it as long as its not illegal and not breaching any planning laws?

20-07-2019 7:53pm

bertsmom wrote: »

I'm not being deliberately rude but if someone has paid for a site is it not their own business what they do or don't do on it as long as its not illegal and not breaching any planning laws?

Yes and no.

It all depends where the site is and what it's zoned as.

For example, they own the Corrib Great Southern and are being hit with the vacant site levy.

The levy is applied based on the following

The Urban Regeneration and Housing Act defines a vacant site as either:

The site is residential land (more than 0.05 hectares), there is a need for housing in the area, the site is suitable for housing and the majority of the site has not been in use for an extended period of time

The site is regeneration land (other than residential land), the majority of the site has not been in use for an extended period of time, or the site is having a negative impact on existing amenities or on the character of the area.

For the site above, they currently owe over 110,000 eur

See here - https://connachttribune.ie/comers-in-talks-with-council-over-corrib-great-southern-500/

grbear · 20-07-2019 7:56pm

rainybillwill wrote: »

It seems the Comer Brothers are holding Galway city back. The McHale Group and comer brothers are sitting on countless sites in the city and are neither developing or selling them to delevopers. Added they own countless houses and apartments they want a continued housing shortage in Galway city.

The laws regarding taxing vacant sites needs to be enforced properly.

There's a worthwhile discussion to be had on the topic of developers sitting on sites and not paying the relevant levies.

There's over €100,000 due in levies on the Corrib Great Southern site. The council needs to be actively going after money that's owed.

EDIT:Dacor said it better, and quicker.

gally74 · 20-07-2019 8:05pm

rainybillwill wrote: »

It seems the Comer Brothers are holding Galway city back. The McHale Group and comer brothers are sitting on countless sites in the city and are neither developing or selling them to delevopers. Added they own countless houses and apartments they want a continued housing shortage in Galway city.

anyone can ask for a derelict site to be added to the derelict register, this at least puts some $$ pressure back on the owner, Shop st etc. has lots of dereict building, in fact ireland is a joke on one hand pushing tidy towns on the other not taking action,

all you need to do is send an email to Environment@galwaycoco.ie outling why something should be added to the list..

a site tax would make way more sense that a property tax!!!!!

Mrs OBumble · 20-07-2019 8:27pm

gally74 wrote: »

Shop st etc. has lots of dereict building, ....

a site tax would make way more sense that a property tax!!!!!

We all know about Una Taffe's.

But what others are there on Shop St or its surrounds?

rainybillwill · 20-07-2019 10:11pm

its just disappointing to see two Galway men making their money off struggling families in Galway. They are in part causing a housing crisis and homeless problem in Galway City

bertsmom · 20-07-2019 10:40pm

Dacor thanks for the explanation. It makes sense really doesn't it. I just wasn't aware that existed and was wondering if you struggled and saved to buy a site and it took a further few years to get the finance together to start a build get planning etc could a member of the public just make a complaint that may cause you to lose the site. Obviously not so that's great.
I definitely think it's a good idea to levy for large commercial sites that are left to go derelict and the council should definitely enforce this but I still fail to see how the Comer brothers (don't know them) are causing Galway families to be homeless!

kippy · 20-07-2019 10:50pm

The Comers are loaded. The levy would need to be significant to make them think about development.
That said those blaming them for the cities 'homeless' problem don't have a grasp on reality.

20-07-2019 11:30pm

rainybillwill wrote: »

its just disappointing to see two Galway men making their money off struggling families in Galway. They are in part causing a housing crisis and homeless problem in Galway City

See, what you are doing there is adding 1+1 and getting 3

colm_mcm · 20-07-2019 11:35pm

rainybillwill wrote: »

its just disappointing to see two Galway men making their money off struggling families in Galway. They are in part causing a housing crisis and homeless problem in Galway City

Jaysus, that’s a bit of a reach?

ben.schlomo · 20-07-2019 11:43pm

Deleted User wrote: »

rainybillwill wrote: »

its just disappointing to see two Galway men making their money off struggling families in Galway. They are in part causing a housing crisis and homeless problem in Galway City

See, what you are doing there is adding 1+1 and getting 3

3 is being very generous.

21-07-2019 12:57am

kippy wrote: »

The Comers are loaded. The levy would need to be significant to make them think about development.

The levy was 3% in 2018, that's the 112,500 that they currently owe. The first year of applying it was basically a warning shot to the site owners in general.

From 2019 the rate increases to 7% of the site value, so at the end of this year they will owe an additional 262,500 on top of the 2018 amount which is still outstanding.

Each year after they pay the 7% value.

By the end of year 5,they will have paid 1.1 million euro to the council if they haven't developed it by then.

As you can see, there is a significant incentive now for developers to develop prime land and to reduce the appeal of speculation.

Childrenswear · 21-07-2019 10:53am

This quote from the City Tribune makes you wonder if the Comer brothers are actually aware of the appalling condition of the Corrib Great Southern site.

‘Mr Comer said: “It was derelict when we bought it, and we boarded it up, because it was being robbed left, right and centre and we boarded it up and have kept it in good condition until we try and get the planning resolved.’

Kept it in good condition - really?!

21-07-2019 12:12pm

Childrenswear wrote: »

Kept it in good condition - really?!

To be fair, it was derelict for several years prior, they have increased security around it and how much can they do to to a derelict site.

In saying that, there was permission granted for the demolition of the hotel, which was for 5 years, let lapse and extended by the council for an additional 2 years.

They've since let that lapse too so they can't do anything to the site until they submit a new planning permission proposal. They are currently trying to get the city Councillors to change the zoning changed for the site before proceeding

flazio · 21-07-2019 12:21pm

So in other words, despite the look of dereliction and nothingness at the site, Red Tape work continues in offices to make the site work for them. I know its easy to begrudge the wealthy. But they didn't get their wealth by accident. They did it by clever (not hard, clever) work.

Childrenswear · 21-07-2019 12:28pm

flazio wrote: »

So in other words, despite the look of dereliction and nothingness at the site, Red Tape work continues in offices to make the site work for them. I know its easy to begrudge the wealthy. But they didn't get their wealth by accident. They did it by clever (not hard, clever) work.

I’d like to know their excuse for not paying the 112,500 owed - they can certainly afford it. My guess is they’re hoping the fine will be waived once the rezoning is sorted out.

Childrenswear · 21-07-2019 12:33pm

Wouldn’t it be nice if the Comers and the McHales would just donate the whole site to GMIT. It’s really just a tiny part of their property portfolio -they wouldn’t even miss it...

rainybillwill · 21-07-2019 12:34pm

Its a shame they wont develop the sites when rents in galway are at a all time high. I could understand it from foreign investors only interested in money not the people. For local men its disappointing.

rainybillwill · 21-07-2019 12:37pm

Childrenswear wrote: »

Wouldn’t it be nice if the Comers and the McHales would just donate the whole site to GMIT. It’s really just a tiny part of their property portfolio -they wouldn’t even miss it...

The IT had a chance to buy it when it was something like 1.5 million but opted to spend the money on the facilities across the road.

gordongekko · 21-07-2019 12:56pm

Its no different to the crown site of the boreham site on the dock. All derelict all vacant, All should be fine and all should be getting the same treatment on this. Im not sure what the hate for the comers is?

rainybillwill · 21-07-2019 1:00pm

gordongekko wrote: »

Its no different to the crown site of the boreham site on the dock. All derelict all vacant, All should be fine and all should be getting the same treatment on this. Im not sure what the hate for the comers is?

The Crown Square and Bonham Quay are both being developed. The Comers are sitting on derelict sites and will not develop them raising rents for the people of Galway.

at1withmyself · 21-07-2019 1:10pm

rainybillwill wrote: »

raising rents for the people of Galway.

It's not there fault, it's a hotel for feck sake, that's not effecting anyone's rent!

grbear · 21-07-2019 1:12pm

[Deleted User] wrote: »

The levy was 3% in 2018, that's the 112,500 that they currently owe. The first year of applying it was basically a warning shot to the site owners in general.

From 2019 the rate increases to 7% of the site value, so at the end of this year they will owe an additional 262,500 on top of the 2018 amount which is still outstanding.

Each year after they pay the 7% value.

By the end of year 5,they will have paid 1.1 million euro to the council if they haven't developed it by then.

As you can see, there is a significant incentive now for developers to develop prime land and to reduce the appeal of speculation.

Is there a mechanism in place for the value of the site to be reassessed? If an independent auctioneer/auditor/whoever the right person for the job is values the site at €10million (just to keep the maths easy) does the annual levy rise to €700,000?

rainybillwill · 21-07-2019 1:32pm

at1withmyself wrote: »

It's not there fault, it's a hotel for feck sake, that's not effecting anyone's rent!

They own more then one property in Galway my friend.

bertsmom · 21-07-2019 2:02pm

Childrenswear wrote:

Wouldnâ€™t it be nice if the Comers and the McHales would just donate the whole site to GMIT. Itâ€™s really just a tiny part of their property portfolio -they wouldnâ€™t even miss it...

Why would they or indeed anyone do this they are business people not a charity. GMIT had the opportunity and didn't buy it.

flazio · 21-07-2019 3:01pm

"Generosity" is not the answer to the housing crisis, so look elsewhere.

gordongekko · 21-07-2019 3:12pm

rainybillwill wrote: »

The Crown Square and Bonham Quay are both being developed. The Comers are sitting on derelict sites and will not develop them raising rents for the people of Galway.

Only in the last few months. They have been idle for years.

The comers are investing their own money into Galway the other 2 sites have developers who are or were involved in NAMA so they are being build off taxpayers money

zell12 · 21-07-2019 3:16pm

We want a free market capitalistic system where private property rights trump everything.
We got that. What's wrong?!!

Maybe look at all the 'empty' State lands in Galway - HSE, Army, Education, Transport, Councils, IDA...or massive car parks all over the place - that are 'holding' Galway back

afkasurfjunkie · 21-07-2019 6:07pm

They’ve done sod all with the Shannon Oaks site in Portumna too.

21-07-2019 6:41pm

Childrenswear wrote: »

I’d like to know their excuse for not paying the 112,500 owed - they can certainly afford it. My guess is they’re hoping the fine will be waived once the rezoning is sorted out.

It doesn't work like that. Once levied it must be paid.

21-07-2019 6:48pm

afkasurfjunkie wrote: »

They’ve done sod all with the Shannon Oaks site in Portumna too.

They can't do anything with it until granted planning permission

County planners due to make decision on Portumna Shannon Oaks Hotel refurb this month

https://galwaybayfm.ie/galway-bay-fm-news-desk/county-planners-due-to-make-decision-on-portumna-shannon-oaks-hotel-refurb-this-month/

Mrs OBumble · 21-07-2019 6:57pm

[Deleted User] wrote: »

It doesn't work like that. Once levied it must be paid.

And it will be paid sooner or later.

at1withmyself · 21-07-2019 8:00pm

rainybillwill wrote: »

They own more then one property in Galway my friend.

And are any of them usable housing units?

rainybillwill · 21-07-2019 11:46pm

at1withmyself wrote: »

And are any of them usable housing units?

Maybe The odeon portfolio my dear friend??

zell12 · 22-07-2019 7:30am

at1withmyself wrote: »

And are any of them usable housing units?

They own hundreds of flats/houses in Galway - all rented out
http://www.thecomergroup.com/residential-portfolio-ireland

biko · 22-07-2019 9:26am

I'd rather have Galway developers owning properties in Galway than Dubs or god forbid Mayo

mgn · 22-07-2019 9:43am

zell12 wrote: »

They own hundreds of flats/houses in Galway - all rented out
http://www.thecomergroup.com/residential-portfolio-ireland

I knew that the owned a lot of property but dident realise that the were into the rental market that big.Good luck to them the came up the hard way.

22-07-2019 1:46pm

rainybillwill wrote: »

They own more then one property in Galway my friend.

They are a business who’s aim is to make profit it’s not their job to house people.

A few in here wouldn’t last long in business.

at1withmyself · 22-07-2019 2:17pm

rainybillwill wrote: »

Maybe The odeon portfolio my dear friend??

Maybe you could explain or link to this portfolio?

Link by other poster shows they've helped by renting property.

I'm confused how you came to the conclusion they are causing a property crisis?

xckjoo · 22-07-2019 4:07pm

mgn wrote: »

I knew that the owned a lot of property but dident realise that the were into the rental market that big.Good luck to them the came up the hard way.

It would be nice if they were pushed to something with the likes of the Corrib Great Southern site though. It's been derelict long enough

flazio · 22-07-2019 8:29pm

biko wrote: »

I'd rather have Galway developers owning properties in Galway than Dubs or god forbid Mayo

I would rather people who would develop and use the property to its full potential, regardless of where they came from.

kippy · 22-07-2019 8:42pm

flazio wrote: »

I would rather people who would develop and use the property to its full potential, regardless of where they came from.

Communism the only solution.

Wompa1 · 23-07-2019 2:38pm

zell12 wrote: »

They own hundreds of flats/houses in Galway - all rented out
http://www.thecomergroup.com/residential-portfolio-ireland

I'll be damned! When does the Odeon Portfolio building plan commence or has it not even been approved yet?

It looks like my current office is in the line of fire.

Wompa1 · 23-07-2019 2:43pm

Esteban Shaggy Criminal wrote: »

It’s their land why should you are anyone have a say on what they do with it? Thankfully this is not a communist county. The vacant site tax is already a step way too far, interfering in privately owned land.

City ordinance is used in cities in pretty much every major developed country in the world. It prevents derelict buildings or filth covered lots from hurting the value of surrounding properties. If I paid a million + for a property in the city and then some c*nt bought the place next to me and let it sit for years, have the grass and bushes overgrown, windows smashed in. I'd be furious.

Other property owners deserve protection.

In the US, even residential areas have ordinance through Home Owner's Associations. I don't fancy that level of governance, myself but there should be legal\financial recourse if your neighbor brings down the value of your home or property through their actions or inactions.

xckjoo · 23-07-2019 3:13pm

Esteban Shaggy Criminal wrote: »

It’s their land why should you are anyone have a say on what they do with it? Thankfully this is not a communist county. The vacant site tax is already a step way too far, interfering in privately owned land.

Jesus man. What world do you live in? Ever heard of planning permission, zoning, city ordnances, property tax, etc? Don't think there's ever been a time you could just do whatever you want with privately owned land. Better watch of for those commies though. They gonna get ya

ben.schlomo · 23-07-2019 3:48pm

There's a lot to be said for people sharing or swapping their tinfoil hats in this thread.

The Comer brothers

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