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The Gallery, Dublin Rd


darkmarket
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  • 3 weeks later...
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It's worth going into the planning file and looking at what the case officer said about this scheme:

"The supporting statement for the application refers to the proposal being a 'high quality property'. It is considered that the proposed finishes, entrance to the apartments and size of the apartments will not result in a high quality product. Design unit commented that the

entrance to the apartments does not appear to comply with universal accessibility requirements white the apartment sizes 'barely make the grade as hotel bedrooms."
The officer clearly hated this scheme and it was initially recommended for refusal. It was (reluctantly by the looks of things) approved when it was agreed to reduce the height by a storey.
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It's worth going into the planning file and looking at what the case officer said about this scheme:

"The supporting statement for the application refers to the proposal being a 'high quality property'. It is considered that the proposed finishes, entrance to the apartments and size of the apartments will not result in a high quality product. Design unit commented that the

entrance to the apartments does not appear to comply with universal accessibility requirements white the apartment sizes 'barely make the grade as hotel bedrooms."

The officer clearly hated this scheme and it was initially recommended for refusal. It was (reluctantly by the looks of things) approved when it was agreed to reduce the height by a storey.

Very interesting.

Good to see you back PJ.

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the apartment sizes 'barely make the grade as hotel bedrooms."

What refreshing honesty! Although shame on them for giving the company planing permission to build these. I walk past this building on my way to work every morning, and it's interesting to see it slowly come together. The shell of the apartments look tiny from the outside; they'll be even smaller when they're filled with furniture obviously.

And a few blocks down we have the student accommodation they're building, which the locals are now protesting against - they've plastered signs saying "No Holylands in the Sky" all around the site.

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  • 3 weeks later...

Reserved doesn't really mean anything. It's what the developers decide it to mean.

In the case of a property delivered at a market rate significantly below the agreed price, banks may withdraw mortgage approval leaving the buyer with commitments agreed at the time of the reservation. That explains the interest in what these developers have included in this contract.

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https://pbs.twimg.com/media/CdvrmEPWEAAuA5w.jpg:large

This is an Irish News advertorial confirming the figure of twenty reservations.

"'The interest so far has been from a broad spectrum of purchasers including young professionals, students and investors attracted by the affordable £115,000 price tag which can yield a rental return of up to 8%', said Gary."

Handy the five reservations included all their target demographics, but I'm surprised he's still pitching it as essentially a BTL investment.

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  • 3 weeks later...

After a good two months, the reservation figure stands at 30.

15 were taken before the development went to market.

5 more went over the next 6 weeks.

10 went in a single block after the paid advertorials in the NI press.

Nothing since then. On a side note, highest numbers of Belfast properties on the market I've seen in a long, long time.

I have no idea why at this juncture the media seems to be playing the line that it's takeoff time for NI property, but there you go.

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If they don't get the sales I doubt there'll be much trouble. Could rent the left overs all out and sit on them, or rent the whole block and sell it as one investment. The way things are going they'd prob sell the block at about 7% yield!

Coincidentally someone's just listed a block of student apartments, albeit for Jordanstown. I doubt that was the Gallery developer's original intention but I'm sure they considered all this before it was added to the market.

The way things are going the development not being completed is also a possibility, but build to rent does look like the reserve model of the moment.

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Coincidentally someone's just listed a block of student apartments, albeit for Jordanstown. I doubt that was the Gallery developer's original intention but I'm sure they considered all this before it was added to the market.

The way things are going the development not being completed is also a possibility, but build to rent does look like the reserve model of the moment.

Had seen that jordanstown one. Don't think there'll be much demand for 4 and 5 bed flats without as many students being there with the Belfast campus. Plus I thought £100k each unit was steep!

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A group of 4 or 5 homeless folk have taken up residence together on the Dublin Road. It's the strangest thing walking past a row of sleeping bags. Dunno if there's alcohol or drugs involved, probably is.

Saw the police talking to them yesterday evening but they were still there as I walked to work this morning. The Dublin Road looks a bit crappy at the best of times, but this just adds to the effect. Perhaps they're not homeless, but they're just queuing to get one of the luxury apartments at The Gallery.

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A group of 4 or 5 homeless folk have taken up residence together on the Dublin Road. It's the strangest thing walking past a row of sleeping bags. Dunno if there's alcohol or drugs involved, probably is.

Saw the police talking to them yesterday evening but they were still there as I walked to work this morning. The Dublin Road looks a bit crappy at the best of times, but this just adds to the effect. Perhaps they're not homeless, but they're just queuing to get one of the luxury apartments at The Gallery.

Dublin Road has yet to live up to the hype/potential it seems to attract from developers.

I think it's a bit of a dump TBH.

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Dublin Road has yet to live up to the hype/potential it seems to attract from developers.

I think it's a bit of a dump TBH.

If they develop the big block of student rooms that they're planning, maybe that will encourage development and investment in the area; we'll see. Since it joins the city centre to the university area, it would be good to see it spruced up a bit. Several big buildings seem to have been empty for ever, especially when you get to the Shaftsbury Square end of Dublin Road - enough free room there to build a load of flats but there mustn't be the demand.

At the moment it seems to have beggers/homeless folk during the day, and drunk people at night stumbling around it.

Edited by JoeDavola
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Dublin Road has yet to live up to the hype/potential it seems to attract from developers.

I think it's a bit of a dump TBH.

I think so too and it's uncomfortably close to some serious dumps. Also given the decline allowed to continue in the other student areas, I wouldn't bet on a bright future either.

Interesting anecdote from over on skyscrapercity:

I know of one couple that placed a reserve deposit but have now found something more spacious in Belfast CC, they lost the deposit but didn't care as they were tiny.
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