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Obel


getdoon_weebobby
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A v quick glance through those documents tell me other purchasers of multiple units include Jas 'Welly Park' Mooney and the Richhill-based property figure Derek Harrison (who some on this site will be well aware of.)

Luck guys :ph34r:

On a side note, with all that glass surely aircon would be essential. I take it there is none installed, it's going to be seriously hot even with the limited sun we get :ph34r:

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Another look through more legilble Companies House filings reveals Derek Harrison to be BTL king of the Obel. Ten units booked, a total commitment of £1,563,500.

Good for him, 10 x the profit ............ aaaaaahhhhhh did no one tell him previous performance is no guarantee of future returns ;)

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Hmm.. it would appear that 'Tower of Tenants' may perhaps be a more apt name than 'Carbuncle'......?

The big question has to be which one of the new developments goes this way first ?

http://www.bbc.co.uk/news/uk-northern-ireland-10794629

Social Development Minister Alex Attwood announced plans for the flats in the Lower Falls area to be replaced with 11 three-bedroom houses.

His proposals will be put out for consultation to the local community.

The area has become a hotspot for anti-social behaviour and this has been intolerable for local people.

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These spectacular sights

Am i missing something here? Spectacular sights would be a view of Rome when the sun is setting, New York at night, Niagra Falls etc

How is a couple of buildings in Belfast "spectacular"?

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All the following have committed to buy in Obel - should they move in it will be the grandest address in Belfast.

Frank Cushnahan - NI advisor to Nama, wealthy banker and a behind the scenes troubleshooter at Stormont.

Conor MacCarrick - Founder of propertynews and ex-banker. Was one if the Ormo bakery buyers sued by Barry Gilligan.

Jim Ferrin - south Belfast property developer, owns Mossgiel Developments

Dr Dean Harron and family (5 units) - a big name in Irish bloodstock, owns Glynn Park stud near Downpatrick

Adrian Doran - Head of Barclays corporate banking in NI

Paul Fitzsimons - Newry solicitor

Ronnie Savage (2 units) - Belfast financial advisor

Gordon McElroy and Anne Marie Kelly (2 units) - Partners at MKB Russells solicitors

Michael Burns (2 units in a syndicate with the two above) - Head of commercial property at Robert G Sinclair solicitors

Jerome Mullen (2 units) - well known Newry businessman

Noel Murphy and family (4 units) - boss of Mar property who were originally part of the Obel

consortium

Trevor Turkington - boss of Portadown building firm, Turkington

Blackbourne family (2 units) - owners of Karl construction

Kevin Watson - owner of Co Derry firm Kevin Watson Construction

Declan Rodgers - Lisburn road solicitor

Peter Lunn - boss of Lunn's jewellers

This is far from the full list but what is very clear is that an overwhelming number of the remaining units have been bought by people with adresses in the better parts of Belfast and Co Down and who v likely have no intention of moving into Obel.

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A few more:

Victor Toland (2 units) - boss of Toland House Property in Lisburn

Gilbert Nesbitt (2 units) - boss of Wilson Nesbitt solicitors

John Bittles - owner of Bittles Bar

Denis Rooney - chair of Intetnational Fund for Ireland

Jayne Doherty (2 units) - Co Armagh property and equestrian figure

Derek Stephenson - Lisburn builder

McShane family, Banbridge (3 units) - one of them is a senior person at BTWShields

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I appreciate that this information is in the public domain but perhaps we would be better settling on the fact that many of these properties are absolutely investments and not homes. Would you be comfortable if some total strangers picked your name from a public document and starting hunting out information about you and posting it on an online forum?

Surely the point has now been made??

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I’m actually enjoying reading this. It makes me realize that there wasn’t ever a market for this sort of development and that the “elites” make some ridiculous business choices. Nothing is a one way bet. I would love to know what percentage of people signed up to obel have also signed up to other developments.

Thanks for the info PJ.

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All PD. All true. I'm on the Land Registry files like everyone else. Suck it up.

Interesting to see some personal friends mentioned in the Obel listing PJ. Welcome to the forum by the way. You have certainly made an impact in a short space of time!

Obel will have a stunning list of professional landlords.

Edited by paul65
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I’m actually enjoying reading this. It makes me realize that there wasn’t ever a market for this sort of development and that the “elites” make some ridiculous business choices. Nothing is a one way bet. I would love to know what percentage of people signed up to obel have also signed up to other developments.

Thanks for the info PJ.

... me too. It is fascinating to see who got caught in our ponzi scheme housing market. Don't forget - it was these investors/speculators that priced ordinary people out of the housing market.

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... me too. It is fascinating to see who got caught in our ponzi scheme housing market. Don't forget - it was these investors/speculators that priced ordinary people out of the housing market.

Agreed, looks like the golf club set are in big trouble :ph34r:

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... me too. It is fascinating to see who got caught in our ponzi scheme housing market. Don't forget - it was these investors/speculators that priced ordinary people out of the housing market.

Exactly and it’s this group of highly networked, influential individuals who will be doing everything in their power to talk the market up. They’ve been lefty with a poor development with the only thing going for it being the height to jump off. The fact is every apartment development is the same. They were all investor driven. These developments will see truly massive falls. There is no market for these apartments at these quantities and these prices. I suspect that they won’t really suffer in reality.

They’ll be much too cosy with the banking establishment. Who are unlikely to want to see such massive falls in these projects they have backed.

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I think Malthus was referring to the circle of influential investors. There are lots of corrupt influential societies in northern ireland eg. The Masonic lodge.

Eh, maybe we should avoid conspiracy theory and stick to fact. I don't see a circle of influential investors so

much as a bunch of disperate people with easy access to capital and the belief they had identified an asset which could deliver a return.

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