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The Gallery, Dublin Rd


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lol. The smallest studios in Belfast getting bought by the folks across the water.

Reminds me of ones down south buying up the holy lands circa 2006.

Exactly - the only people who are big enough mugs are those who don't know what they're buying. If you knew the area, you'd know better.

I've seen some bargains in Detroit if anyone is interested...

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I mean they're the width of a king size bed FFS.

As long as Belfast feels entitled to the same £ per m2 as other UK cities with greater economic opportunity, it'll continue to dissuade the people it needs from staying / moving in. It's just the same denial of reality that leads people to offer a king-size bed you can't get out of except at the far end.

Saw that Gary tweeted the building is 50% sold

The £4m estimate there doesn't seem crazy. At 50% reserved, with most by the developers, I'd leave the cork in the champagne for now.

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Saw that Gary tweeted the building is 50% sold with a pic of the development team drinking champagne on the top floor

Good for them. As I walked past the block on my way home from work yesterday at about 6pm, there was 5 people in sleeping bags on the ground taking up half the pavement, and a drunken chav having an argument with his 2 chav lady friends; it looked like he was gonna start hitting one of them, who was screeching "calm down or the peelers will come and lift you" at the top of her voice.

Luxury city center living, in the most cosmopolitan of areas. I hope the champagne went down well.

Edited by JoeDavola
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Excellent - I hope they're built to a good standard; sounds like they might be if they're going so far as to have a pool ect. I generally think apartments are all overpriced, but at the same time I think it would be a good thing for the city centre to have more apartment blocks. I hope more people in the city leads to new businesses being set up ect...

Edited by JoeDavola
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Excellent - I hope they're built to a good standard; sounds like they might be if they're going so far as to have a pool ect. I generally think apartments are all overpriced, but at the same time I think it would be a good thing for the city centre to have more apartment blocks. I hope it leads to new businesses being set up ect...

I agree on the good block points but the service charge on this could be eye watering. Full time concierge and a pool between 75 flats isn't going to be cheap.

Plans if interested

http://epicdocs.planningni.gov.uk/ShowCaseFile.aspx?guid=858a5d1d-e8f4-487c-b077-54335398d261

Not sure the penthouse is worth 300k. It's not very "penthouse".

Edited by 2buyornot2buy
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I agree on the good block points but the service charge on this could be eye watering. Full time concierge and a pool between 75 flats isn't going to be cheap.

Plans if interested

http://epicdocs.planningni.gov.uk/ShowCaseFile.aspx?guid=858a5d1d-e8f4-487c-b077-54335398d261

Link doesn't work - what sort of sizes are the one beds?

I just checked out the promo video, check out the little touches like bloke picking up the Merc keys and the shot of her expensive jewelry:

http://alanfraser.com/index.php/global/view-belfast/the-matic

You're right the service charges will be obscene, and as I said I wouldn't have any interest in buying one, but I'm still happy they're increasing the number of apartments. Will be interesting to see if it's owner occupiers or investors that buy the majority. I can't help but wonder if these developments are aimed at investors that don't even live in NI, and for whom £135K for an apartment is pocket change.

Edited by JoeDavola
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Link doesn't work - what sort of sizes are the one beds?

I just checked out the promo video, check out the little touches like bloke picking up the Merc keys and the shot of her expensive jewelry:

http://alanfraser.com/index.php/global/view-belfast/the-matic

You're right the service charges will be obscene, and as I said I wouldn't have any interest in buying one, but I'm still happy they're increasing the number of apartments. Will be interesting to see if it's owner occupiers or investors that buy the majority. I can't help but wonder if these developments are aimed at investors that don't even live in NI, and for whom £135K for an apartment is pocket change.

Investors are looking for yield. All depends on what you can rent it for.

1 beds are under 500 sq ft according to the plan. Actual space could be less. Developers like to measure differently.

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Says:

"This facility may only be accessed via the Planning Portal"

Planning service have blocked 'linked' access direct to planning applications which is a real pain particularly when you want to check several on a weekly basis. You have to search through their creaking EPIC. They have a 'recorded search' facility if you log in and create an account..

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The video makes it clear the target market is overseas investment. Another solution to a problem Belfast doesn't have.

Yeah that was my thoughts. I would have thought most locals would have been too down to earth to fall for all that marketing hype!

Having said that, I'd rather that investor money was piling into buildings like this than being used to price families out of suburban houses.

Edited by JoeDavola
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I'd rather that investor money was piling into buildings like this than being used to price families out of suburban houses.

Given there's only one housing market at the end of the day, the effects of projects like this will carry over and contribute to pricing families out of suburban homes. I'd rather that FDI was targeted at addressing the shortage of high-quality offices, increasing failure of manufacturing or the poor quality of basic infrastructure. Property-led growth is unsustainable, just another example of putting the cart before the horse.

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What would the yield on one of these be for renting purposes?

I've been out of NI so long I've no idea what the price of rental is.

You'd be lucky to get 550 per month for one of them. I'd have thought 500 was more realistic. I'm renting a far nicer flat nearby for 575.

Then minus the rates, and the maintenance fees, and the letting agent costs, and your landlord insurance, and any additional maintenance costs that come along.

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You'd be lucky to get 550 per month for one of them. I'd have thought 500 was more realistic. I'm renting a far nicer flat nearby for 575.

Then minus the rates, and the maintenance fees, and the letting agent costs, and your landlord insurance, and any additional maintenance costs that come along.

Don't forget the capital gains as the value rises, or something, probably.

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Don't forget the capital gains as the value rises, or something, probably.

And the people you'll have to give a cut, EA's, solictors and the like, just to be able to sell the bloody thing regardless of whether the price goes up or down.

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A new development of slavebox apartments. I actually remember when the original house was for sale, a year or two ago. Think it was half a million.

Check out the photos; the size of the kitchen and the TV virtually placed on the floor cause there's no wall for it:

http://www.simonbrien.com/new-homes/apartments-at-sans-souci-park-bt9-5qz-972

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Actually it looks like there'll be 4 major new blocks cropping up in the city centre:

http://alanfraser.com/index.php/global/view-belfast/the-matic

http://alanfraser.com/index.php/global/view-belfast/m-rise

http://alanfraser.com/index.php/global/view-belfast/v-rise

http://alanfraser.com/index.php/global/view-belfast/s-rise

....when you add the little block on the Dublin Road; be interesting to know how many extra apartments in total we'll have in the city center in a couple of years time.

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