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Slí na Manach, Mungret

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    #62
    Phileas Frog
    Closed Accounts Posts: 946 ✭✭✭Phileas Frog


    I see it's back in the Leader again today, with more nonsense from Genesis Homes. "House number three closes today or tomorrow and house number six is closing" - 3 is the show house, and 6 is the one to the rigfht of the image used in the article. Both have been completed since 2018 / early 2019 respectively.

    https://www.limerickleader.ie/news/home/434582/homeowners-in-limbo-over-wait-for-action-at-limerick-estate.html


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    #63
    z0oT
    Registered Users Posts: 740 ✭✭✭z0oT


    Phileas Frog wrote: »
    I see it's back in the Leader again today, with more nonsense from Genesis Homes. "House number three closes today or tomorrow and house number six is closing" - 3 is the show house, and 6 is the one to the rigfht of the image used in the article. Both have been completed since 2018 / early 2019 respectively.

    https://www.limerickleader.ie/news/home/434582/homeowners-in-limbo-over-wait-for-action-at-limerick-estate.html
    6 is completed, but nobody has moved into it yet to my knowledge. 1, 2, 4, 5 have all closed. 3 is the showhouse, and 6 is closing currently according to what we were able to find out.

    The website of the development is still down too.
    http://www.slinamanach.ie

    And ironically the domain registration has lapsed too.

    https://www.iedr.ie/result/?res=slinamanach.ie

    If one wanted to purchase slinamanch.ie and turn the website into something to try and shame Genesis into providing a concrete timeline, now is the time to do it. :p


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    #64
    mgbgt1978
    Registered Users Posts: 4,227 ✭✭✭mgbgt1978


    Genesis Homes are the reincarnation of McInerney Homes.
    McInerney's went out in the last recession owing circa €115 million.
    Genesis homes then had a receiver appointed in late April 2017. Apparently it was only the potential of the Sli na Manach Development that kept them going at that time.
    The fact that they are still in existence 2 years later is probably testament to somebody's ability to string along the Banks more than any actual House building skills......;)


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    #65
    moby2101
    Registered Users Posts: 1,432 ✭✭✭moby2101


    To be fair, Genesis are not “the re incarnation “ of Mc Inernys Builders.
    One former director and a few employees of Mc Inernys started Genesis.

    Campaigning against Irish Cement’s application to burn alternative fuels is responsible for driving down the market value of Sli na Manach houses


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    #66
    Phileas Frog
    Closed Accounts Posts: 946 ✭✭✭Phileas Frog


    moby2101 wrote: »
    Campaigning against Irish Cement’s application to burn alternative fuels is responsible for driving down the market value of Sli na Manach houses

    Do be fair, the disappearance of the builders for several months has more of a factor than the presence of a cement factory.


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    #67
    moby2101
    Registered Users Posts: 1,432 ✭✭✭moby2101


    I think you’re misinterpreting my post. Of course I’m not blaming the presence of Irish Cement’s factory that has been there over 80 years. I’m simply saying the ludicrous campaign mounted by LAP and others is purely scaremongering and I feel this had had a negative effect on sales of the estate.

    There is no incinerator being built,
    I C will purely seek to substitute an amount of pet coke that they currently use as fuel with an alternative eco friendly fuel.

    Personally I have no issues with this, I've lived in the vicinity for nearly 20 years .


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    #68
    z0oT
    Registered Users Posts: 740 ✭✭✭z0oT


    So... it's been about 5 months now since all of the builders packed up and left. There's been absolutely zero communication from Genesis Homes. All we've seen are some soundbites which are likely just lies from them in the Limerick Leader, as illustrated above. Nothing to those of us who have paid them 30k+ so far.

    What's worse, these guys are giving everyone the runaround. The auctioneers, the future residents, even Genesis's solicitor can't get anything out of them and is telling them to go find a new solicitor. We've heard lots of reasons for the delay - management change, investor change, a vulture fund being involved, but it's hard to know what to believe now.

    We initially got a move in date of Feb 2019 back in October 2018, which was never going to happen. Then it was July 2019, and now... radio silence. What's worse, is that the guy we were dealing with in Genesis has now left the company it seems. The phone numbers registered to Genesis just ring out. Emails go completely unanswered.

    We would have signed in October 2018, and according to our contracts we would be supposed to be getting keys by April 2020, which could start to look in doubt unless they actually start back on site in the next few months. I suspect most others that have bought into this development have similar timelines. Our mortgage offer will expire next month.

    Then there's the Help to Buy scheme. From Day 1 they were advertising eligibility for the scheme, but yet almost 15 months later they're still not on the Revenue's list of registered contracters meaning nobody can claim the Help to Buy. We were told they would reduce the price by 5% if it wasn't ready by closing, that could be just lies aswell.

    Our solicitor succeeded in getting a condition included in our contracts that we would qualify for the Help to Buy scheme. It might be our only way out without having to wait until next April, but with it likely to be renewed next year I'm not sure if we can exercise that.

    In the event that this development is to continue and be advertised again, let this serve as a warning to look elsewhere. You don't want to be dealing in any way with this company, they just don't deserve to be in business when they operate like this. I had my doubts on day 1 in line of what happened in 2017, I should listened to them more.

    Also, if there's any other would-be residents reading this, I would love to get in contact, please PM me.


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    #69
    who_ru
    Registered Users Posts: 2,033 ✭✭✭who_ru


    z0oT wrote: »
    So... it's been about 5 months now since all of the builders packed up and left. There's been absolutely zero communication from Genesis Homes. All we've seen are some soundbites which are likely just lies from them in the Limerick Leader, as illustrated above. Nothing to those of us who have paid them 30k+ so far.

    What's worse, these guys are giving everyone the runaround. The auctioneers, the future residents, even Genesis's solicitor can't get anything out of them and is telling them to go find a new solicitor. We've heard lots of reasons for the delay - management change, investor change, a vulture fund being involved, but it's hard to know what to believe now.

    We initially got a move in date of Feb 2019 back in October 2018, which was never going to happen. Then it was July 2019, and now... radio silence. What's worse, is that the guy we were dealing with in Genesis has now left the company it seems. The phone numbers registered to Genesis just ring out. Emails go completely unanswered.

    We would have signed in October 2018, and according to our contracts we would be supposed to be getting keys by April 2020, which could start to look in doubt unless they actually start back on site in the next few months. I suspect most others that have bought into this development have similar timelines. Our mortgage offer will expire next month.

    Then there's the Help to Buy scheme. From Day 1 they were advertising eligibility for the scheme, but yet almost 15 months later they're still not on the Revenue's list of registered contracters meaning nobody can claim the Help to Buy. We were told they would reduce the price by 5% if it wasn't ready by closing, that could be just lies aswell.

    Our solicitor succeeded in getting a condition included in our contracts that we would qualify for the Help to Buy scheme. It might be our only way out without having to wait until next April, but with it likely to be renewed next year I'm not sure if we can exercise that.

    In the event that this development is to continue and be advertised again, let this serve as a warning to look elsewhere. You don't want to be dealing in any way with this company, they just don't deserve to be in business when they operate like this. I had my doubts on day 1 in line of what happened in 2017, I should listened to them more.

    Also, if there's any other would-be residents reading this, I would love to get in contact, please PM me.
    A dreadful experience for any home buyer to go through and symptomatic of the unprofessional approach to all things property related in Ireland. The people involved in this charade should be black listed but will no doubt resurface in some future scheme.

    Good luck in your house search.


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    #70
    z0oT
    Registered Users Posts: 740 ✭✭✭z0oT


    The only silver lining of the whole experience will be a much bigger deposit next time around.

    On another note, just look at where this link takes you. The idiots left the domain expire.

    http://www.slinamanach.ie

    What an embarrassment for Genesis... considering the website is up on the signs outside the estate.

    This wasn't my handywork, but I applaud the person who did! ;)


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    #71
    Phileas Frog
    Closed Accounts Posts: 946 ✭✭✭Phileas Frog


    They got investment in May apparently, so that much is true... https://realassets.ipe.com/news/eso-backs-irish-housebuilder-genesis-with-development-funding/realassets.ipe.com/news/eso-backs-irish-housebuilder-genesis-with-development-funding/10031244.fullarticle


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    #72
    z0oT
    Registered Users Posts: 740 ✭✭✭z0oT


    Phileas Frog wrote: »
    They got investment in May apparently, so that much is true... https://realassets.ipe.com/news/eso-backs-irish-housebuilder-genesis-with-development-funding/realassets.ipe.com/news/eso-backs-irish-housebuilder-genesis-with-development-funding/10031244.fullarticle
    Yes that's it. I had a vague memory of being able to unearth something to that effect back in June or so shortly after everything ground to a halt there, but couldn't find it recently.

    Since we started trying to poke and prod everyone for an update, one thing we've been consistantly told is that they're not in financial difficulty. Maybe that's true, but who knows at this point.


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    #73
    un5byh7sqpd2x0
    Closed Accounts Posts: 1,862 ✭✭✭un5byh7sqpd2x0


    I just happened to be in here today and still no sign of the builders - 9 months on is it??


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    #74
    z0oT
    Registered Users Posts: 740 ✭✭✭z0oT


    I should probably update this thread since I made the above post which is actually pretty scathing. It was at the peak of my frustration when I posted that so it probably made everything sound worse than it actually was.

    Thankfully things are quite a bit better now - The builders are now back on site since December and work is progressing at quite a good pace. Genesis Homes are to give us a compensation package for the delay also, which is actually pretty good because contractually they don't have to give us anything really.

    The delay, to my knowledge was caused by transferring the estate to a new investor. I have no idea what was involved and why it would take 7-8 months, but that's my understanding of the situation. That's all solved now as far as I am aware.

    So I guess everything has pretty much worked out. Genesis have kind of redeemed themselves in our eyes, my only real criticism of them would be the lack of communication in the 2nd half of last year. The houses themselves are lovely, so that'll be long forgotten after we move in.

    Also I gather that a number of people who had signed contracts had to pull out (finance or their personal circumstances changing), so there are a number of houses that should be finished soon that are up for sale again.

    The add is back up on MyHome & REA O'Connor Murphy's website.
    https://www.myhome.ie/residential/brochure/sli-na-manach-sli-na-manach-mungret-limerick/4212138
    https://reaocm.ie/property-listings/property.php?PropertyID=4212138


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    #75
    un5byh7sqpd2x0
    Closed Accounts Posts: 1,862 ✭✭✭un5byh7sqpd2x0


    Hi z0oT - any sign of Genesis appearing on the list of contractors registered for the Help To Buy scheme?


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    #76
    Macnellington
    Registered Users Posts: 1 ✭Macnellington


    Any update on Sli Na Manach ? The new phase is being released in the coming weeks. Would love if anyone had any insight into the estate.

    Thanks


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    #77
    LiqN2
    Registered Users Posts: 6 ✭LiqN2


    Macnellington wrote: »
    Any update on Sli Na Manach ? The new phase is being released in the coming weeks. Would love if anyone had any insight into the estate.

    Thanks

    Hi , No answer for you I am afraid but I am very interested in buying in this estate , have driven around it and I have put myself on the interested list with developer , I wonder when they are going to release the prices , I am guessing they will be about 350k for semi detached 4 beds or am I being way to optimistic?!


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    #78
    Marty1983
    Registered Users Posts: 153 ✭✭Marty1983


    LiqN2 wrote: »
    Hi , No answer for you I am afraid but I am very interested in buying in this estate , have driven around it and I have put myself on the interested list with developer , I wonder when they are going to release the prices , I am guessing they will be about 350k for semi detached 4 beds or am I being way to optimistic?!


    Another 40 or 50k with it


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    #79
    LiqN2
    Registered Users Posts: 6 ✭LiqN2


    Hi,
    For anybody interested the prices for new phase of Sli na Manach were just released today by email to anybody who has registered their interest. It is soul destroying how expensive they are. 😞 Nearly 500k for a 4 bed detached and 375k for 4 bed semi -detached!


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    #80
    davo2001
    Registered Users Posts: 3,317 ✭✭✭davo2001


    LiqN2 wrote: »
    Hi,
    For anybody interested the prices for new phase of Sli na Manach were just released today by email to anybody who has registered their interest. It is soul destroying how expensive they are. �� Nearly 500k for a 4 bed detached and 375k for 4 bed semi -detached!

    You'd want to have your head examined to pay half a million quid for a 4 bed house that are basically on top of each other in an estate in Raheen.


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    #81
    Mad_maxx
    Registered Users Posts: 13,505 ✭✭✭✭Mad_maxx


    Limerick prices will rise by 20% in 2021 the way things are going , its scary out there , any sort of a dump which has an asking of 140 k is currently at 170 k , im talking old houses in undesirable areas so its no surprise that new family homes are making those figures above


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    #82
    [Deleted User]
    Posts: 596 ✭ [Deleted User]


    20% is conservative...

    204 The Grange, Raheen.
    Sold new on 21 August 2019 for €308,370 + 13.5% VAT so €350,000
    https://www.propertypriceregister.ie/Website/npsra/PPR/npsra-ppr.nsf/eStampUNID/UNID-F7CB6B6CCB6A566C80258469005270A0?OpenDocument

    Advertised in January 2021 for €395,000
    https://www.myhome.ie/residential/brochure/204-the-grange-raheen-co-limerick-v9432r2/4481068

    Sold on 19 April 2021 for €435,000
    https://www.propertypriceregister.ie/website/npsra/ppr/npsra-ppr.nsf/eStampUNID/UNID-A9D2660363199812802586C5004784F9?OpenDocument

    10% above asking, and ~ 25% above what it was bought new for 18 months ago.


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    #83
    McSween
    Registered Users Posts: 1,248 ✭✭✭McSween


    [Deleted User] wrote: »
    20% is conservative...

    204 The Grange, Raheen.
    Sold new on 21 August 2019 for €308,370 + 13.5% VAT so €350,000
    https://www.propertypriceregister.ie/Website/npsra/PPR/npsra-ppr.nsf/eStampUNID/UNID-F7CB6B6CCB6A566C80258469005270A0?OpenDocument

    Advertised in January 2021 for €395,000
    https://www.myhome.ie/residential/brochure/204-the-grange-raheen-co-limerick-v9432r2/4481068

    Sold on 19 April 2021 for €435,000
    https://www.propertypriceregister.ie/website/npsra/ppr/npsra-ppr.nsf/eStampUNID/UNID-A9D2660363199812802586C5004784F9?OpenDocument

    10% above asking, and ~ 25% above what it was bought new for 18 months ago.

    I saw that. I am flabbergasted by that price. There must be oil underneath.


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    #84
    Mad_maxx
    Registered Users Posts: 13,505 ✭✭✭✭Mad_maxx


    people didnt realise just how cheap Limerick was for so long


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    #85
    IamMe33
    Registered Users Posts: 97 ✭✭IamMe33


    Was interested in the 3 bed semi-d's which were €287,500 in the last phase towards the end of last year.
    Now they're increased €40k to €330,000.
    The EA has said they were to increase €20k when speaking to them in January but the developers have smelt blood in the current crises.

    I wonder will Mungerat Gate prices start shooting up similarly, or has the social housing explosion beside it killed it's desireablilty.
    Everyone I've spoke to has warned me off that one.


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