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Arc Apartments, Titanic Quarter - Beware


JoeDavola
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For anyone who is considering buying an apartment in the Arc Apartments near Titanic, I have a friend who's rented one of the apartments for the last 2 years, and I'm hearing some bad reports.

Basically many of the apartments are being let out as Airbnb's, with the associated antisocial behavior that comes from people in Belfast for a few days to party.

He's also noticed several instances of one bedroom apartments that are housing families of 4+ people; one example was the apartment that his balcony looks over; it's a one-bed and he can clearly see a mattress in the living room with two grown men sleeping on it. From the people he sees regularly in the flat he reckon's there's 4 people and a baby living in a one bed apartment.

The management company are kicking up a stink about people littering the place by throwing their cigarette butts over the balcony's (mainly the Airbnb folk), and also the fact that there's too much waste being generated for the capacity of the bins (maybe something to do with 5 people living in a one bed apartment?).

Buyer beware.

Edited by JoeDavola
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Sounds horrendous. :(

They're solid apartments, and the re-modelling of the whole area beside the Titanic visitors center and the new bridge into town is all really beautiful. but once again it illustrates the danger of buying anywhere where there's high-density housing. You don't know if it's going to go downhill or not.

You really need to know that you're living somewhere where most of the people around you are residents and have a shared interest in keeping the place nice, not building companies/btl-ers cramming as many people in as possible to make a quick buck.

Edited by JoeDavola
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Only rules written into the leases (covenants) can be enforced. New rules are not allowed to be thrown in 'ad hoc' to suit changing circumstances. That is why leasehold is not a choice I would take again unless the lease is worded to cover all eventualities, includes share of freehold and there is an owner run management company. Freehold is a much safer and wiser choice if funds allow.

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  • 2 weeks later...

Friend who lives in the Arc was telling me that notices have gone up in all the lifts from the management company, asking those who are renting their apartments whether or not they want to buy them and to contact them if they're interested in doing so.

Basically looks like a mass sell-off, but they aren't wanting to publicly advertise them all because putting a load of them on the open market at once would depress prices. My friend seems to think that a big percentage of the apartments, perhaps even most of them, are still owned by the company that built them.

Edited by JoeDavola
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  • 1 month later...

Hi there, looking a bit of advice guys, what is the general consensus regarding the Arc?

I've recently returned to NI after being offshore for 4 years and am looking at buying an apartment in Belfast, the Arc is one development I'm looking at (one bedroom duplex). I've also taken a look at Queens Square beside the albert clock and will be looking at Bass buildings next week. Unfortunately with the fear of Brexit there doesnt seem to be much out there at the moment so any views/opinions are welcome.

Cheers

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16 minutes ago, Dr Pepper said:

Hi there, looking a bit of advice guys, what is the general consensus regarding the Arc?

I've recently returned to NI after being offshore for 4 years and am looking at buying an apartment in Belfast, the Arc is one development I'm looking at (one bedroom duplex). I've also taken a look at Queens Square beside the albert clock and will be looking at Bass buildings next week. Unfortunately with the fear of Brexit there doesnt seem to be much out there at the moment so any views/opinions are welcome.

Cheers

I know the apartment blocks well - I'd advise staying away from Bass Buildings; heard bad things about it.

Queens Square is built well I believe, but I'd be concerned about the noise from nearby traffic/pubs.

Of the 3, I'd reckon the Arc is your best bet. But don't rush into anything. I see there's a couple in Margarita Plaza - but can't vouch whether it's any good or not - always thought it looked ok.

Edited by JoeDavola
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Thanks Joe appreciate it, re Queens Square was a very nice apartment and seemed to have been well finished with more space than more modern builds, it was a worry though that the apartment I viewed was right above McHughs!

I've only been back 4 weeks and I've heard from multiple sources that Margarita Plaza is very 'active' at night... Although I do agree the apartments look nice. Other than that do you have any other suggestions? I'm avoiding James Clow/Granery as when I was visiting a few months ago a friend was viewing an apartment and I went along, they look to have been finished very cheaply. Also avoiding the Obel as again I've heard it was finished cheaply and I'm really not a fan of how it looks from the outside.

Do you know who the management company is at the Arc? I would like to get in touch to see if there would be any other 1 bed apartments available (the one I saw was for sale but got taken off the market again...)

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Only a few blocks I'd buy in and none of the block you mentioned would be one of them. Live in Queens square for a few months about 10 years ago. It was looking old then. Arc is in the middle of an industrial estate. 

Look at custom house, stranmillis warf. Malone square. All top spec. 

 

Edited by 2buyornot2buy
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titanic living - gillian houston

2 hours ago, Dr Pepper said:

Do you know who the management company is at the Arc? I would like to get in touch to see if there would be any other 1 bed apartments available (the one I saw was for sale but got taken off the market again...)

GIllian Houston is handling the sales of a load of Arc flats at the moment. They were rented out to HBO and other businesses and now they're trying to sell them en-masse:

http://titanic-quarter.com/tq-life/living

EDIT: And for the love of God don't go anywhere near Obel.

Edited by JoeDavola
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1 hour ago, Dr Pepper said:

Appreciate the advice 2buyornot2buy unfortunately I'm looking something more towards the city centre. Custom house square apartments look awesome (albeit quite small) but nothing for sale there at the minute. 

Thanks Joe! 

No probs - don't be afraid to check back about any particular buildings that you're thinking of viewing - there's a fair bit of knowledge here and we're happy to help.

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  • 5 months later...
  • 3 years later...

Has anyone any update on these apartments? Issue currently regarding cladding and these are not able to be sold. 2Bed marina facing apartments supposedly being listed for 250k!! Surely this price is seriously inflated especially with Brexit, social housing being build across the marina and lockdown having people desire of private garden space. Also with Propertypal announcing a -4% drop in apartment prices from last year. 

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18 hours ago, MartinUpTheWall said:

Has anyone any update on these apartments? Issue currently regarding cladding and these are not able to be sold.

Are you saying flats in The Arc are currently un-mortgageable due to structural issues?

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On 24/02/2021 at 21:15, MartinUpTheWall said:

Has anyone any update on these apartments? Issue currently regarding cladding and these are not able to be sold. 2Bed marina facing apartments supposedly being listed for 250k!! Surely this price is seriously inflated especially with Brexit, social housing being build across the marina and lockdown having people desire of private garden space. Also with Propertypal announcing a -4% drop in apartment prices from last year. 

250k would be too high, may 200k for a really good two or three bed, even then that would be high

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17 hours ago, JoeDavola said:

Are you saying flats in The Arc are currently un-mortgageable due to structural issues?

There are potential issues with the wooden cladding in the development. A similar development Samuel Garside House, had a fire linked to the same wooden cladding used in Arc. Obviously with Grenfel, banks are reluctant to deal with cladding issues. 

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22 minutes ago, 2buyornot2buy said:

There are potential issues with the wooden cladding in the development. A similar development Samuel Garside House, had a fire linked to the same wooden cladding used in Arc. Obviously with Grenfel, banks are reluctant to deal with cladding issues. 

Yea, disaster for the unfortunates stitched up by the spiv developers.  To add insult to injury the same developer will probably control the management company.  The owners will likely be asked to pay for replacing the cladding.  So if buying here for cash allow for the cost of replacement, maybe 50k.  

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1 minute ago, satsuma said:

Yea, disaster for the unfortunates stitched up by the spiv developers.  To add insult to injury the same developer will probably control the management company.  The owners will likely be asked to pay for replacing the cladding.  So if buying here for cash allow for the cost of replacement, maybe 50k.  

No doubt linked to the builders employed to fix the issue and with a larger number of flat still unsold, there isn't a majority of shareholders available to change the MCo. 50k bill and no Airbnb. Cluster$%##

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Just now, 2buyornot2buy said:

No doubt linked to the builders employed to fix the issue and with a larger number of flat still unsold, there isn't a majority of shareholders available to change the MCo. 50k bill and no Airbnb. Cluster$%##

Yes, its a sad story and I think there will be many depressed owners.  one of life's lessons I suppose.  Only buy freehold, dont buy flats.  

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Yes of all the mysteries of the current property boom 2.0, the biggest mystery to me is prices in the likes of obel and the arc shooting right up again - I honestly can't comprehend who would buy these apartments, especially obel.

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1 hour ago, JoeDavola said:

Yes of all the mysteries of the current property boom 2.0, the biggest mystery to me is prices in the likes of obel and the arc shooting right up again - I honestly can't comprehend who would buy these apartments, especially obel.

The same few obel shit boxes have been on sale for an age, noone wants them 

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