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Looking for owners from The Forum in Sandyford

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  • 10-01-2020 4:15pm
    #1
    yzmnzr123
    Registered Users Posts: 8 ✭


    I'm looking for some landlords from The Forum premises located in Sandyford, I'm curious about the management company, quality of the apartments, amenities etc...


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    #2
    GalwayBmw
    Registered Users Posts: 90 ✭✭GalwayBmw


    yzmnzr123 wrote: »
    I'm looking for some landlords from The Forum premises located in Sandyford, I'm curious about the management company, quality of the apartments, amenities etc...

    I understood it's a purpose built house many occupied by a few apart hotels, could anyone shed any light on it?


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    #3
    meijin
    Registered Users Posts: 1,255 ✭✭✭meijin


    the block facing the street is Premier Suites, apartments mostly rented by nearby IT companies for people moving to Ireland

    the two blocks on the sides are private apartments

    good location, close to Luas, some shops nearby

    apartments are quite good, but now without issues
    - gas boilers not very suitable to be outside in Irish weather, will stop working in the strong wind sometimes
    - some water leaks through windows or through the upper floor
    - management company slow to react to more serious problems (like water leakage)


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    #4
    GalwayBmw
    Registered Users Posts: 90 ✭✭GalwayBmw


    There's currently a couple of units in that building for sale on daft/myhome URL="https://www.myhome.ie/residential/brochure/apartment-116-the-forum-sandyford-dublin/4486734"]1[/URL, URL="https://www.myhome.ie/residential/brochure/118-the-forum-ballymoss-road-sandyford-dublin-18/4489255"]2[/URL

    the numbers suggest the units are situated in the same block. However while the first one looks like an average apart hotel unit, the second one looks more like a residential apartment to me. That'd mean that any block in the building can have a mixture of the owner occupied units and suites, which wouldn't be a huge plus. After reading some reviews about PREMIER SUITES we understood that it can be noisy with people using it for celebrating various special occasions.
    I haven't seen it inside but some of the reviews suggest the existence of the physical front desk, not sure how it fits into a mix used block.

    Another thing we found is the Iresreit is holding 8 units in the building since 2016, so these units can potentially be let out to people from the council list, not sure how big of an issue this might be.

    We are potentially considering to buy one of units in that block if the price/other circumstances permit, so we would be thankful for any inside info.


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    #5
    GalwayBmw
    Registered Users Posts: 90 ✭✭GalwayBmw


    meijin wrote: »
    the block facing the street is Premier Suites, - gas boilers not very suitable to be outside in Irish weather, will stop working in the strong wind sometimes

    That is interesting, almost every review we read had a complaint about the noise produced by the boiler (as well as the general lack of the hot water) - I guess this is something you just have to accept when moving to those apartments is it? There's no way around it with installing an alternative on your own is there?


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    #6
    markpb
    Registered Users Posts: 9,254 ✭✭✭markpb


    GalwayBmw wrote: »
    Another thing we found is the Iresreit is holding 8 units in the building since 2016, so these units can potentially be let out to people from the council list, not sure how big of an issue this might be.

    What’s the concern here? Any landlord could decide to let their house or apartment to the council and any house or apartment could be bought by the council or housing agency.


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    #7
    meijin
    Registered Users Posts: 1,255 ✭✭✭meijin


    GalwayBmw wrote: »
    That is interesting, almost every review we read had a complaint about the noise produced by the boiler (as well as the general lack of the hot water) - I guess this is something you just have to accept when moving to those apartments is it? There's no way around it with installing an alternative on your own is there?

    the boiler is outside, on the balcony, so you can't hear it
    the pump is inside, near the hot water tank, and is a little noisy, but not too bad
    the tank is big enough (you can see it on some of the pictures from linked properties), so depends on how much hot water are you using really

    I guess you can replace any of it if you want...


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    #8
    Edgware
    Registered Users Posts: 5,875 ✭✭✭Edgware


    markpb wrote: »
    What’s the concern here? Any landlord could decide to let their house or apartment to the council and any house or apartment could be bought by the council or housing agency.
    But Iresit own eight. Do you want to be in the same block as eight Whacker and Sharons and you with a big mortgage and they paying rent based on their "income"?


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    #9
    markpb
    Registered Users Posts: 9,254 ✭✭✭markpb


    Edgware wrote: »
    But Iresit own eight. Do you want to be in the same block as eight Whacker and Sharons and you with a big mortgage and they paying rent based on their "income"?

    Are you confusing IRES with some housing agency? IRES are a massive, corporate landlord. They’re definitely not in the affordable/social housing business.


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    #10
    GalwayBmw
    Registered Users Posts: 90 ✭✭GalwayBmw


    markpb wrote: »
    Are you confusing IRES with some housing agency? IRES are a massive, corporate landlord. They’re definitely not in the affordable/social housing business.

    You seem to be a bit overconfident about things you have very little knowledge about:

    https://www.irishtimes.com/business/commercial-property/ires-reit-makes-21-13m-social-housing-proposal-to-council-1.3899949


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    #11
    meijin
    Registered Users Posts: 1,255 ✭✭✭meijin


    GalwayBmw wrote: »
    You seem to be a bit overconfident about things you have very little knowledge about:

    https://www.irishtimes.com/business/commercial-property/ires-reit-makes-21-13m-social-housing-proposal-to-council-1.3899949

    "In complying with “Part V” regulations, Ires is to set aside the statutory 10 per cent of the 428 apartments planned for its Rockbook development at Sandyford for social and affordable housing."


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    #12
    markpb
    Registered Users Posts: 9,254 ✭✭✭markpb


    GalwayBmw wrote: »
    You seem to be a bit overconfident about things you have very little knowledge about:

    https://www.irishtimes.com/business/commercial-property/ires-reit-makes-21-13m-social-housing-proposal-to-council-1.3899949

    Did you read the article? IRES, as a developer, have to sell some of the units they’re building to the council. Everyone building MUDs has to do that. It’s been a condition of planning for more than an decade. IRES, as a landlord, don’t rent to councils for social housing. They make far too much money renting to the general public.

    The fact that IRES own some of the units in the Forum mean those units are less likely to be rented to the people other posters despise.


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    #13
    GalwayBmw
    Registered Users Posts: 90 ✭✭GalwayBmw


    markpb wrote: »
    They make far too much money renting to the general public.


    This would sound nearly sarcastic nowadays :)

    Just try using your own logic - can IRES sell any units they have to the council? Especially now, when they likely have difficulty renting them on one hand and the state is more than willing and being able to buy them? My answer is yes, and that's what I would do being in their situation.

    P.S. Not sure what you mean by "despise" btw, but I'd be accurate with this type of statements.


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    #14
    GalwayBmw
    Registered Users Posts: 90 ✭✭GalwayBmw


    meijin wrote: »
    "In complying with “Part V” regulations, Ires is to set aside the statutory 10 per cent of the 428 apartments planned for its Rockbook development at Sandyford for social and affordable housing."

    that's fair enough, but it doesn't mean they can't sell more later if the want/need to.


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    #15
    Edgware
    Registered Users Posts: 5,875 ✭✭✭Edgware


    markpb wrote: »
    Did you read the article? IRES, as a developer, have to sell some of the units they’re building to the council. Everyone building MUDs has to do that. It’s been a condition of planning for more than an decade. IRES, as a landlord, don’t rent to councils for social housing. They make far too much money renting to the general public.

    The fact that IRES own some of the units in the Forum mean those units are less likely to be rented to the people other posters despise.

    I wouldn't be too confident about that. There are many built to lets being developed. Already we have reports of building not being fully occupied. The day will come when the REITs will be glad to offer buildings to local authorities for guaranteed rental periods of 20/25 years


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    #16
    GalwayBmw
    Registered Users Posts: 90 ✭✭GalwayBmw


    Edgware wrote: »
    I wouldn't be too confident about that. There are many built to lets being developed. Already we have reports of building not being fully occupied. The day will come when the REITs will be glad to offer buildings to local authorities for guaranteed rental periods of 20/25 years

    I would have thought this is the timeless dream for any of the developers building apartment blocks in this country.


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