Receiver appointed to Priory Hall development in Dublin


#447

Wait, it also has pyrite? Was this thing built on an ancient Viking burial ground or something?


#448

No truth in the rumours that they’re renaming it? I think the two possible runners are ‘Fiery Hall’ and ‘Pyritey Hall’
:-GC


#449

Gorse Hall has a certain ring to it… :-GC


#450

They’re better off renaming it Alcatraz, after all it’s still a “ball & chain” for many of the former inmates.


#451

But they got a “get out of jail free” card didn’t they? They essentially sold the properties to the state for full price. Or do I misremember?


#452

You’re probably correct, I wasn’t sure that they all “escaped”.


#453

The BTLs may have been treated differently actually. I believe most of the relief was for mortgage-holders for some reason.


#454

Correct, as per the article:

So BTL owners were in limbo and are now stuck with the least attractive property in Ireland, but short memories, a rename, refurb and rental demand will probably see them do alright in the medium to long term.


#455

What a crazy “solution”.


#456

McFeeleys legal eagles wanted the case heard in August as a matter of urgency…when all the M’luds are on their holidays in their country piles!!! Not the brightest of approaches


#457

Priory hall apts to go on sale early next year.Selling as New Priory…orderly queue please.

Joking aside these are probably the safest apts in the State.


#458

Bankruptcy extended for 5 years for total non co-operation

irishtimes.com/news/crime-an … -1.2668592

No mention of jail of course


#459

On sale now

daft.ie/dublin/apartments-for-sale/donaghmede/2-bed-apartment-new-priory-donaghmede-dublin-1333555/


#460

€165,000 for a two bed?

Must be a tasty yield on that, even with the location?


#461

IIRC, DCC has stipulated no BTL investors.


#462

Did not know that (not that I’d be in anyway au fait with the BTL market)

Still relatively cheap for a PPR if a two bed suited so


#463

let’s not forget it has taken the government/DCC 2 years to come up with a solution for residents and another 3 years to build 60 apartments as they’ve only renovated a portion of the development so far. So 5 years, if anyone thinks the government can solve any supply issues in the current market

for collapso porn watchers, i know these apartments sold for 245k for 2 bed off plans in 2005 and as high as 345k close to ‘completion’


#464

It’s a disgrace that they’re even being sold - they’ll be lucky to get back what they spent on remediation works based on the figures I’ve seen quoted for this mess in the past. They should be retained as homeless / council accommodation rather than sold for €165k each for standard 2 beds (€199k I think for the bigger 1000sqft 2 beds). If they do ensure that only owner occupiers buy them then at least they’d hopefully be helping FTBs with low budgets, but if they let BTL landlords buy these it’s just ridiculous.


#465

I doubt they can legally stop BTL landlords from buying them in the long term.


#466

i’m guess the original BTL owners are getting properties back from the first phase so they want to keep the mix with owner occupiers with these sales