Sites for Sale

The Irish Property Bubble The Republic of Property
#1

Strange collection of sites for sale. Not something I have ever seen before.

www.daft.ie/1385066 - Impact Property & Finance - 3.7M

www.daft.ie/1326619 - Impact Property & Finance - 6.5M

www.daft.ie/1309973 - Impact Property & Finance - 2M (Down from 4.5M)

www.daft.ie/1259092 - Impact Property & Finance - 2.6M

www.daft.ie/1257976 - Impact Property & Finance - 2.5M

www.daft.ie/1208062 - Impact Property & Finance - 2M

www.daft.ie/12426 - Impact Property & Finance - 7M

www.daft.ie/115552 - Impact Property & Finance - 3M

www.daft.ie/157111 - Impact Property & Finance - 50M (or 40M for a quick sale) :wink:

www.daft.ie/1400636 - Impact Property & Finance - 45M

I’ve never heard of Impact Property & Finance before do they just specialize in development sites or is something else happening here?

#2

According to the bee the first two date from april 08 and december 07 so these must be around for a while … and the agent of course …

Lookin at No.3 on your list - dropped from €4.5m to €2.0m asking - that’s a big one !! :open_mouth:

They’ve 141 properties on the books according to the agent search - lots of sites.

Never seen the name before.

#3

I wonder how many developers are selling off their land banks at this moment?

I can’t imagine there are many developers that have cash at the moment and if they don’t have the cash what bank would lend to them.
Who will the EA’s be targeting for these sales? Can’t be more than a handful of potential buyers.

#4

I wonder how many Developers are having their sites/landbanks sold for them by their Bankers ??

Has the look of the REPO-MAN this.

Move quietly to the exits please … single file … :wink:

#5

No such thing as a REPO MAN in Ireland , its called an Orderly Disposal in these parts !

#6

reading through those is grim

500 more gafs in dundalk?

nearly 100k each for the land to build em?

#7

So the drip feeding of zoned land supply is now becoming a glut. We must definitely be approaching Panic levels :stuck_out_tongue:

I do believe that might have been a little too-gleeful :blush:

#8

Some great deals there.

#9

Impact Property & Finance seem to have the development land market sewn up in the north Leinster region. Not bad for a company with no website and one office in a Victorian terrace in Malahide.

#10

They don’t seem to have much success in selling anything, the’ve been trying to sell this site in Mullingar for a looooong time.

www.daft.ie/198328

www.daft.ie/193035

They even have it listed twice, price has never changed.

#11

Are 56 more duplexes (duplices??) really needed in the teeming Metropolis that is Mullingar?

It’s obvious that the developers who own these sites need cash, and desperately. Geez I’d like to help but all I’ve got is €20k on deposit…sorry lads.

#12

I think the question is, are Impact Property and Finance a front for one of the banks attempting to dispose of property that’s landed back on their laps?

#13

Funny they don’t have a website…

#14

My thoughts precisely.

They are a Business Name only - not a registered company.

Registered in may 2006 with the CRO. Worth digging around for more info …

#15

A well known developer trying to stay under the radar???

#16

I don’t think so. According to the CRO, the business name was registered in May '06

#17

By my reckoning there are over 300 new units built and unsold at present in Mullingar (about half 3 & 4 bed semis and half apartments)

This particular site is just opposite Pettitswood Manor and was previously a car sales lot, most recently Mullingar Autopoint. It extends in behind what was used for the car sales but is still a tiny site for this density of housing (the revised planning allows for 50 units)

At this stage the council has zoned all land enclosed by the N4 & N52 bypasses and the C-link road and even some outside this area namely along the C- link road in Irishtown and Walshestown.

I’ve lost count of the amount of units that are planned but between the Robinstown and Marlinstown development plans alone about 5000 additional units are zoned.

It seems the council anticipes the population of the town to treble in the coming years! :open_mouth:

#18

Here is an idea, for OW most likely - he of the socialist collective bent :wink: .

A coop of people buy a plot of zoned land together for planning and subdivision and the award of a bulk contract to build houses.

Could provide some really cheap houses.

Maybe an all in deal with a developer who:

  • Needs to unload some land
  • Could do with some more work
#19

An off the shelf business name …

Unusual ? Maybe.

#20

The population will need to treble, otherwise who is going to build all the houses the people need to live in?? :unamused: