Was asked by a family member whether I thought this was a realistic price for this block of 3 apartments (2 x 1 bed @ ~42sq m + 1 x 3 bed @ ~128sq m) and 2 commercial units (175 sq m between them) - total of 396.31 m² / 4266 ft². It’s on the canal, right by the Harold’s Cross bridge, listed at €600,000.
It’s certainly low if you look at the individual cost of each unit on the open market, but I don’t know if that discount is typical when you buy a block like this. Any thoughts? Or anyone know of any similar units sold in the last few months that I can look up in the PPR either now or in the coming months?
No management company in place. Commercial units have never been occupied - some structural issues I believe meaning they’re not compliant with fire safety regulations. No idea of the costs involved sorting it out, but I’m guessing it wouldn’t be cheap (hence the 600k asking price)
Having been withdrawn from the market about a year ago by the receiver, one of the 1 bed apt’s is now on the market, asking 230k. I wonder if the structural / fire safety and management co. issues have been addressed??
I lived in a 1 bed about that size with a very similar layout. It was surprisingly liveable, in fact still my favourite apartment ever. The key was a long wall of shelves in the sitting room and two chests of drawers in the bedroom.
I’d buy the apartment in my old block of flats though, it’d be 75k cheaper.
Viking Harbour on Ushers Island. 20 minutes walk from town.
There’s a two bed there for 215K at the moment. daft.ie/dublin/apartments-fo … n-1192635/
Sitting room and kitchen is the same, double bedroom is the same I assume, second bedroom wouldn’t have been there.
Double bedroom was long and narrow, so the photo just shows one end. The other end had the space for the wardrobe and chests of drawers.
I was a bit skeptical when I first moved in, but loved the place when I lived there. There was no road noise as the apartment faced an internal courtyard. Never heard the neighbours. It was West facing so I had lovely evening sun. Heating was a blast of the storage heater maybe once every three days in the coldest bit of winter. On site caretaker looking after the place every morning. It was tiny, but there was no space wasted and the big shelving unit along one side of the sitting room, double height built in wardrobe, hotpress + the chests of drawers in the bedroom took everything I had with space to spare. It was perfect for one person. E700 a month including a parking spot, pity I had to grow up and move to the suburbs.
And now, the jewel in the crown, the penthouse apartment in Grove Village is on the market, asking 450k. About 15 months ago, the 2 * one bed apts, the 2 * commercial units and the penthouse apt were asking 600k. It was sale agreed at 620k but loan book was purchased by a fund from Bank of Scotland Ireland, and fund withdrew properties from market. They’ve obviously spent some money to sort out legal/structural issues, and looks like a bit of a refurb in penthouse too. Still, I think they will achieve well in excess of 620k for the lot now…
The saga continues… Now the apartments are for sale in Allsop… a sure sign that there are issues, if they can’t be sold on open market. Clearly, there are fire safety / management company issues here - I hope potential auction bidders do their homework!