Dysfunction in the Market

Just reading today about the various NIB branches up for sale. €1m on O’Connell St. - €4m on Dame Street.

When you look at commercial property it is hard to see why anyone is paying €1m for a semi in Blackrock.

Seriously - I could buy a tenented industrial estate (not just a unit) for the prices of some family homes.

That place on O’Connell St. would make some pie’d a terre - parking out back too.

Landmark NIB building goes on sale for €4m
irishtimes.com/newspaper/fin … 95991.html

€1m for O’Connell St landmark
irishtimes.com/newspaper/fin … 84054.html

Also going for sale are branches at Main St, Malahide (€600,000); Walkinstown (€370,000); Main St, Finglas (€250,000); Rose Inn St, Kilkenny (€620,000); Ballinamore, Leitrim (€140,000); Monaghan (€320,000); Mullingar (€415,000); Carrick-on-Shannon, Co Leitrim (€240,000); The Bull Ring, Wexford (€430,000); Drumshanbo, Leitrim (€140,000); Bailieborough, Co Cavan (€140,000); Letterkenny (€240,000); Earl St, Dundalk (€800,000); Stephen St, Sligo (€400,000).

A serious trader knows when to take losses and get out. I have looked at a few NAMA’d premises recently asking bubbly prices.

My point exactly.

Yes, I have been looking at Dun Laoghaire commercial property for some time.

Some places are relative bargains - just need one with the right parking.

myhome.ie/commercial/brochur … lin/360910

Factor in your ongoing and upwardly revalued RATES TAX. You are buying a liability, I’m not sure they could give them away free at this stage.

I don’t believe they would have any problem giving them away free.

I don’t believe you don’t believe that :smiley:

Ghost estate for 550k - inc. 5 houses and planning for 33.

irishtimes.com/newspaper/fin … 83835.html

]

It sold boomtime for 9.5 million and now the yobbos have the audacity to write this…

FFS!!!

:unamused:

So we are agreed then, they are worth at least ZERO minus the RATES.

Do I hear any offers at *€-100K!

*anyone know what the rates are on a place like this, must be massive!

Is it possible to have the usage revised to residential on commercial buildings?

Anything is possible but everything is now a political matter wouldn’t you agree?

I for one welcome the stratagems of our Keepers of Destiny! :angry:

Me too, if you want to score a relatively cheap commercial property and turn it into a gaff you better start going to funerals and having a word in the ear of the public servants who can be found there supping tae.

Yes.
That was my whole point.
Just the cost to change use is blocking activity from occuring.