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23-10-2016, 18:06   #1
handlemaster
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The new Priory hall whos are the brave ones ?

whos going to have a look at New priory hall. At this state it should be pretty good spec::
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23-10-2016, 18:08   #2
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They look incredible, and there cheap.
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23-10-2016, 18:25   #3
handlemaster
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cheap ? there quiet small, two bed 65 sq ms !!!
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23-10-2016, 18:30   #4
The_Conductor
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cheap ? there quiet small, two bed 65 sq ms !!!
However- 65m/2 for a 2 bed- is pretty standard these days- unfortunately the days of having oodles of space- went the way of the dodo somewhere in the early 90s..........

Spec looks quite good. Price is reasonable- however, of course- good luck ever selling it- if you decide to try- its a bit of an unknown commodity.

Could be a worthwhile punt for someone- providing they intended to live there themselves, and not try to sell for a protracted period of time?
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23-10-2016, 18:32   #5
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165000 for a 2 bed thats 700sq ft in Dublin, with a bus outside your door and a dart town the road. That is cheap.
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23-10-2016, 18:42   #6
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Who is going to buy an apartment in front of some semi demolished buildings?

it looks really ugly.
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23-10-2016, 18:49   #7
The_Conductor
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Who is going to buy an apartment in front of some semi demolished buildings?

it looks really ugly.
Its not going to look as ugly forever........
If you're willing to think outside the box- and ignore the history of the place- its entirely possible you may get yourself a nice property at a significant discount to what you might expect to pay in a different development..........
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23-10-2016, 18:59   #8
Eric Cartman
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Its not going to look as ugly forever........
If you're willing to think outside the box- and ignore the history of the place- its entirely possible you may get yourself a nice property at a significant discount to what you might expect to pay in a different development..........
can mere mortals ignore the history - yes, will insurance companies - perhaps not.

That would be my biggest concern is that they are marked uninsurable.
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23-10-2016, 19:03   #9
Atlantic Dawn
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The basic structure is the same as it was when they were condemned, I'd be worried over time they might find more serious issues like they were built on sand or something. Is pyrite not an issue on these?
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23-10-2016, 19:28   #10
riclad
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I think there was problems with the old buildings, re they did not comply with safety standards re fire safety .if you are buying you could get a survey and maybe ask for a gaurantee the new building is compliant
with 2016 building regs and fire safety standards .
Are they good value for apartments in that location and that size.
Look on daft ie ,see what other apartments go for.
Find out where was the new building inspected by the council or is just
a case of someone signing a form ,This building is built as shown in the plans and is compliant
with 2016 building regs and fire safety standards .
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23-10-2016, 20:03   #11
goz83
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My brother is actually getting one of these as a council tenant. I visited the apartment when he was to view it. Yes, they are small, but the build quality is excellent. They put huge effort into these because of the history and wanted to make sure everything was right. The location really is super....especially for him. His kids go to school locally and we grew up in the area. The park is one the community enjoys. Bus right outside, Dart station down the road. Oodles of amenities.
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23-10-2016, 20:33   #12
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good luck ever selling it- if you decide to try- its a bit of an unknown commodity.
It is probably a far more known quantity than any other apartment block built in that era, given the amount of investigations and reviews that have gone on.
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23-10-2016, 20:47   #13
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It is probably a far more known quantity than any other apartment block built in that era, given the amount of investigations and reviews that have gone on.
What I meant was- given how much information is out there on Priory Hall- whether you're able to sell it down the road, or not, is a bit of an unknown quantity.........

Well kitted out it certainly is- however, if a block of apartments complying with current regs were built half a mile down the road- its a bit of a no-brainer which people would go for?
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24-10-2016, 00:19   #14
 
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I cant believe they didnt rename it something different. I seen the pics online and I was really impressed. It looks like those luxury apartments that were twice the price in Smithfield. The energy rating is really good on them

I imagine they will probably be the most fire safe apartments in Dublin. They will know buyers and the media will be going through the apartments with a fine tooth comb.

One concern I would have is the sinking fund. If the development is a redevelopment is the sinking fund empty? I know the apartments have been gutted with a new roof etc. But it is still important to have one
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24-10-2016, 07:00   #15
The_Conductor
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One concern I would have is the sinking fund. If the development is a redevelopment is the sinking fund empty? I know the apartments have been gutted with a new roof etc. But it is still important to have one
Its important to have a provision for one in place- it is up to the owners then, what happens with it.

Its moot to be honest, whether, or not, it is a funded sinking fund- after the carnage of the last decade- while all developments have sinking funds- the vast majority of them are either unfunded in their entirety- or funded to levels below the official guidelines.

The guidelines are just that though- guidelines- there is no penalty for failing to adhere to the guidelines (with the exception of Companies legislation- if a Management Company is proven to be trading while insolvent, the directors risk being prescribed, which can include a ban on holding a company position for a period of up to 12 years (and thats providing there is no criminality involved- in which case there are other penalties that might apply).

All-in-all- the presence, or lack of presence, of a sinking fund- in the context of a development such as this- is meaningless.

As long as there is not significant debt overhang on the Management Company (from the restorative works)- you're really quids in- and the sink fund, and the operation of the Management Company- is what the new owners make it.
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