€300M Investment into Waterford City

fricatus · 04-12-2019 11:53am

Gavlor wrote: »

I do believe it’s going to happen but announcing to the public that half the site is pre sold before applying for planning permission is a bit far fetched?

Maybe they’ve received expressions of interest but not pre sold.

The site is designated as a Strategic Development Zone, so as I understand it, a planning scheme for the overall site was applied for, and people could object to that, prior to approval by An Bord Pleanála.

As I understand it, any planning application now on the site is really just a formality as long as it complies with the overall planning scheme, which has now already been approved. I believe the council just has to make sure it meets the planning scheme for the SDZ, and then approve it (without further recourse for objections) as long as it does.

Better explanation here: http://buckplanning.blogspot.com/2006/11/strategic-development-zones-and-irish.html

Gavlor · 04-12-2019 12:41pm

fricatus wrote: »

The site is designated as a Strategic Development Zone, so as I understand it, a planning scheme for the overall site was applied for, and people could object to that, prior to approval by An Bord Pleanála.

As I understand it, any planning application now on the site is really just a formality as long as it complies with the overall planning scheme, which has now already been approved. I believe the council just has to make sure it meets the planning scheme for the SDZ, and then approve it (without further recourse for objections) as long as it does.

Better explanation here: http://buckplanning.blogspot.com/2006/11/strategic-development-zones-and-irish.html

Yep, I was aware of all that but the point is that very few firms, whether investment funds or otherwise will buy property without analysing detailed planning drawings.

fricatus · 04-12-2019 1:20pm

Gavlor wrote: »

Yep, I was aware of all that but the point is that very few firms, whether investment funds or otherwise will buy property without analysing detailed planning drawings.

If the planning application is imminent, then surely those drawings are available for the developer to furnish to prospective investors? They can quite reasonably tell those investors that these are the drawings going into the planning application, that the whole thing meets the planning scheme, and that approval is expected within six months (or whatever).

Short of having the actual buildings to show them, this would be enough for an investor, wouldn't it?

Johnboy1951 · 04-12-2019 1:26pm

Gavlor wrote: »

Yep, I was aware of all that but the point is that very few firms, whether investment funds or otherwise will buy property without analysing detailed planning drawings.

Seems it is not uncommon to purchase 'from plans' ........ even private housing!

Why would it be different here?

'buying' in this instance is contracting to pay for after inspection etc etc. and final hand-over.
Quite a lot of items to fall into place before sale is actually complete.

Gavlor · 04-12-2019 1:36pm

Johnboy1951 wrote: »

Seems it is not uncommon to purchase 'from plans' ........ even private housing!

Why would it be different here?

'buying' in this instance is contracting to pay for after inspection etc etc. and final hand-over.
Quite a lot of items to fall into place before sale is actually complete.

By all accounts the plans aren’t quite complete yet!

Gavlor · 04-12-2019 1:38pm

fricatus wrote: »

If the planning application is imminent, then surely those drawings are available for the developer to furnish to prospective investors? They can quite reasonably tell those investors that these are the drawings going into the planning application, that the whole thing meets the planning scheme, and that approval is expected within six months (or whatever).

Short of having the actual buildings to show them, this would be enough for an investor, wouldn't it?

Final plans absolutely. But you’re assuming that they are sitting on the plans while showing them to potential clients as opposed to submitting them, despite all the delays??!

Johnboy1951 · 04-12-2019 1:47pm

Gavlor wrote: »

By all accounts the plans aren’t quite complete yet!

That would not prevent a commitment to purchase with some riders to cover deviations from whatever plans are presented to the purchaser.

Gavlor · 04-12-2019 1:56pm

Johnboy1951 wrote: »

That would not prevent a commitment to purchase with some riders to cover deviations from whatever plans are presented to the purchaser.

So an expression of interest? If there were commitments to purchase a hotel along with significant office and apartment space do you not think the buyers would have announced their expansion plans particularly if the hotel was one of the publicly listed groups?

Like I said, I really think this development will go ahead but I feel Rob May be exaggerating on this particular point.

Johnboy1951 · 04-12-2019 2:00pm

Gavlor wrote: »

So an expression of interest? If there were commitments to purchase a hotel along with significant office and apartment space do you not think the buyers would have announced their expansion plans particularly if the hotel was one of the publicly listed groups?

Like I said, I really think this development will go ahead but I feel Rob May be exaggerating on this particular point.

Oh I have no doubt that a 'positive spin' is being put on the situation.
It does appear that it is needed to overcome all the naysayers though

I am not one bit worried about the time line slipping, and yes I continue to believe this will go ahead, unless we have another serious financial setback before everything is committed.

hardybuck · 04-12-2019 2:10pm

I too would be surprised if investors would be prepared to purchase property in a development which hasn't received final planning approval. Unless they got one hell of a deal.

However I would hope that Rob spoke accurately and did not exaggerate or mislead anyone - deliberately or otherwise. We should give him the benefit of the doubt, as you'd expect he'd fully understand the potential consequences of making inaccurate statements in public fora.

thwquietfella2 · 04-12-2019 5:34pm

There s some naivety on here most large development s will pre sell or pre let of plans. Hotels will pre buy so they can have an input into design specs so I doubt Rob is exaggerating

Bards · 13-12-2019 4:00pm

Aquos76 wrote: »

The following is a statement issued by Waterford City and County Council in reply to queries regarding the submission of the North Quays SDZ application.

Waterford City and County Council understand that the final documents in respect of the North Quays Strategic Development Zone are being prepared for lodgement, that Falcon Real Estate will be publishing their Environmental Impact Assessment Report

notification on the Department portal early next week to commence the planning submission process and that full lodgement will be completed within two weeks thereafter.

Two weeks have now passed... Anyone heard anything?

Deiseen · 13-12-2019 5:16pm

Bards wrote: »

Two weeks have now passed... Anyone heard anything?

Monday is the rumour.

IanVW · 13-12-2019 5:43pm

Monday or tuesday i heard from the architect who done an interview with regina mangan

Aquos76 · 13-12-2019 5:57pm

Deiseen wrote: »

Monday is the rumour.

Yep, the 16th Dec is the rumoured date, fingers crossed it does go in then.

Motivator · 13-12-2019 7:21pm

IanVW wrote: »

Monday or tuesday i heard from the architect who done an interview with regina mangan

What has that wan got to do with anything?

IanVW · 13-12-2019 7:47pm

Motivator wrote: »

What has that wan got to do with anything?

Shes a property agent and was talking to Niall Harrington about property thats what

Muttley79 · 13-12-2019 11:08pm

Motivator wrote: »

What has that wan got to do with anything?

She don’t half love the camera!!

DLS_75 · 14-12-2019 3:06am

Muttley79 wrote: »

She don’t half love the camera!!

How many people have you bitched about so far today?!

BBM77 · 15-12-2019 2:10pm

Bards wrote: »

Two weeks have now passed... Anyone heard anything?

The planning notice is in the Munster Express this week (Tuesday 10th December)

Bards · 16-12-2019 7:17pm

I believe planning is going in tomorrow

vriesmays · 16-12-2019 8:31pm

I heard the day after tomorrow.

DLS_75 · 16-12-2019 8:35pm

I heard the day after that

Muttley79 · 16-12-2019 8:52pm

Haha ffs,sure I’ll say the day after that after that.anyone else want to comment and keep the days rollin here!!

Aquos76 · 16-12-2019 9:00pm

The planning notices were put in place this evening after 5pm, one on the dual carriageway and another on Abbey Road in Ferrybank.

vriesmays · 16-12-2019 9:07pm

If it's not in the N&S it ain't happening.

Aquos76 · 16-12-2019 10:05pm

vriesmays wrote: »

If it's not in the N&S it ain't happening.

https://twitter.com/WaterfordNS/status/1206680420890361856

DLS_75 · 16-12-2019 10:11pm

SKELTON 😂😂😂

ForestFire · 16-12-2019 10:18pm

Muttley79 wrote: »

Haha ffs,sure I’ll say the day after that after that.anyone else want to comment and keep the days rollin here!!

If tomorrow never comes
Will she (Deise) know how much I loved her
Did I try in every way (even some brown envelopes) to show her every day
That she's my only one (up the deise)
And if my time on earth were through (we know how long it's takes in this country)
And she must face this world without me
Is the love I gave her in the past
Gonna be enough to last
If tomorrow never comes

Aquos76 · 16-12-2019 10:45pm

Aquos76 wrote: »

The planning notices were put in place this evening after 5pm, one on the dual carriageway and another on Abbey Road in Ferrybank.

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€300M Investment into Waterford City

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