Penthouse, Hanover Quay, Grand Canal Dock, Dublin 2

Asking of €1.1m, sold for the specific number of €1.36155m. These places are renting for €5k a month at the moment but I’m guessing it’s more corporate lets rather than people renting at this level in this location.

What to Pinsters think? Are Penthouses in Grand Canal at this level?

Link to Irish Times Arcticle:

irishtimes.com/life-and-style/homes-and-property/new-to-market/lord-it-over-the-docklands-for-1-1m-1.2261212

Property Price Register:

propertypriceregister.ie/Website/npsra/PPR/npsra-ppr.nsf/eStampUNID/UNID-D7DE14DB7949299280257F2400593E90?OpenDocument

Looks like a million British pounds. Also that’s a fairly frothy €832/sqft - but sure who could be bothered developing apartments in the current market at these unsustainably low prices. :angry:

I don’t know how you could live with yourself knowing that Siobhan pushed your man off the balcony there, would keep me awake at night :neutral_face:

Very rare that it’s a smart idea to buy the most expensive apartment in a block (or most expensive house on a road).

Economists might agree. Psychologists might not.

I think it’s well understood that people are happiest when their circumstances are slightly better than their immediate neighbours.

I’m happier knowing my yield is better.

:smiley:

I think I understand the attraction (security) of expensive apartments for rich people who spend a lot of time out of the country but you’d have to be out of your mind to buy this to let at 4% yield, surely?

It only takes someone to build bigger/nicer ones nearby and you could lose hundreds of thousands of euros.

Seconded. I’ve no problem with expensive apartments but over $1m for this seems madness. It’s a decent walk to the nicer parts of the city center.

The nicer buildings in Grand Canal Dock (Hanover Dock etc) are astonishingly expensive, particularly with a view over the water, and particularly if that view is south-facing. In fairness, I can kind of see the attraction of this one if money was no object; it has a large south-facing terrace overlooking the water, and is walking distance to the city center; rare commodity in Dublin. I’m not sure who’s actually buying them, though :slight_smile:

For more normal apartments, I assume a lot of the price premium comes from the rental market, which is very strong, but I can’t see this one ever being a great investment for rental purposes.

True, and there is a development ongoing which might tick those boxes - 1 Windmill Lane. It’s somewhere called SOBO, wherever that is. I work nearby and they’re motoring along nicely with the work.

sherryfitz.ie/news/2151

South Of Beckett O’Casey :unamused:

This could be leakage from the London market where this kind of housing has proved its worth as a store of value and defy gravity.

I have a cousin sitting on a 2% yield piece of prime London. I’ve been telling him to sell for ten years and he’s been very happy to prove me wrong:D

I’m assuming you saw this this thread.
Perfect timing with the South Park parody.

When I first saw the thread, I thought the OP was jokingly trying to fit it into an Irish context.
Then I realised that ‘SOBO’ was actually genuine. :open_mouth:

I was, but perhaps the same argument applies to rents (and therefore rental yields).

thats was forbes quay not hannover AFAIK!
I used to live closeby and saw them filming it!