Jump to content
House Price Crash Forum

The Gallery, Dublin road


Recommended Posts

Just noticed a couple of apartments have come up for sale in the gallery, the shocking thing is the service charge is £1700 a year, this is a crazy amount for a tiny apartment, this is when it’s a fairly new black and virtually no repairs needing done 

Link to post
Share on other sites
1 hour ago, stingray192 said:

Just noticed a couple of apartments have come up for sale in the gallery, the shocking thing is the service charge is £1700 a year, this is a crazy amount for a tiny apartment, this is when it’s a fairly new black and virtually no repairs needing done 

Probably to pay for the vacant rates on the commercial unit on the ground floor. 

Link to post
Share on other sites

the service charge for the commercial unit should be covered by the landlord and shouldn’t affect the apartments, it will either be set up at two seperate companies or the commercial unit will be paying a percentage of the overall charge dependant on floor area 

Link to post
Share on other sites
54 minutes ago, stingray192 said:

the service charge for the commercial unit should be covered by the landlord and shouldn’t affect the apartments, it will either be set up at two seperate companies or the commercial unit will be paying a percentage of the overall charge dependant on floor area 

I was being a little tongue in cheek. Expensive block that has had great difficulty renting its commercial element since completion doesn't bode well. 

Also apportionment of service charge in mixed use development is anything but simple. If the 600 sq foot 1 beds are paying 1700 I'd be interested to know the commercial apportionment. Probably explains the fact its vacant. 

Link to post
Share on other sites
21 hours ago, 2buyornot2buy said:

I was being a little tongue in cheek. Expensive block that has had great difficulty renting its commercial element since completion doesn't bode well. 

Also apportionment of service charge in mixed use development is anything but simple. If the 600 sq foot 1 beds are paying 1700 I'd be interested to know the commercial apportionment. Probably explains the fact its vacant. 

I think in the current climate it’s going to be empty for a very long time!

this is a block that baffles me always has done, its more like a very posh student bedsit, the prices have fallen ( think they were £169k) ?  They are really designed for people with a crazy social life who needs somewhere to sleep and yet that’s not going to be happening anytime soon

 

Link to post
Share on other sites
59 minutes ago, stingray192 said:

I think in the current climate it’s going to be empty for a very long time!

this is a block that baffles me always has done, its more like a very posh student bedsit, the prices have fallen ( think they were £169k) ?  They are really designed for people with a crazy social life who needs somewhere to sleep and yet that’s not going to be happening anytime soon

 

Air bnb helped it sell. Helped all the blocks really. 

Link to post
Share on other sites
1 hour ago, stingray192 said:

I think in the current climate it’s going to be empty for a very long time!

this is a block that baffles me always has done, its more like a very posh student bedsit, the prices have fallen ( think they were £169k) ?  They are really designed for people with a crazy social life who needs somewhere to sleep and yet that’s not going to be happening anytime soon

 

Gary McCausland has been advertising that the ground floor commercial unit is being converted to a co-working space.

in terms of management charge, the GF commercial units normally only contribute to their share of the block building insurance, usually based on sq ft. They’ll be metered separately for utilities and are stand alone units. 

Link to post
Share on other sites
5 hours ago, 2buyornot2buy said:

Air bnb helped it sell. Helped all the blocks really. 

I think Air bnb will really struggle in city centres now , I have never used it but I think the prices will drop big time, a friend is a manager in one of the hotels in Belfast and she said last year between March and October they had over 99% occupancy, I havnt spoke to her since the start of August so it might have changed since then, but she said they were running around 15% occupancy , they were also nearly 25% down on price from last year. 

Link to post
Share on other sites
9 hours ago, stingray192 said:

I think Air bnb will really struggle in city centres now , I have never used it but I think the prices will drop big time, a friend is a manager in one of the hotels in Belfast and she said last year between March and October they had over 99% occupancy, I havnt spoke to her since the start of August so it might have changed since then, but she said they were running around 15% occupancy , they were also nearly 25% down on price from last year. 

Just a side note- I was told by a multinational hotelier that it’s impossible to get a hotel over c.95% Occupancy as there are always rooms being repaired/refurbished, bookings cancelled etc. 
 

but I agree with the gist of the point, hotel occupancy In Belfast was mad!

Edited by nigooner
Link to post
Share on other sites
On 02/09/2020 at 19:08, 2buyornot2buy said:

If the 600 sq foot 1 beds are paying 1700 I'd be interested to know the commercial apportionment. Probably explains the fact its vacant. 

They're actually just under 400 square feet:

https://lpsni.gov.uk/vListDCV/propertydetails.asp?di=03&dn=Belfast+City+Council&wi=0000001115&wn=Central&si=0000008054&sn=Dublin+Road&display=1047188&rn=71

I remember years ago someone on here mentioned that they almost didn't get planning permission on that block because the planning officials rightfully protested that the flats were so small.

£1700 service charge for that is an absolute piss take in my opinion; I'd love to know who actually bought those apartments - it must have all been aspiring airbnb-ers.

Will be interesting to see how the commercial premises fares as a 'co-working' space. Frankly I'd rather sit in my bedroom working (as I have been doing for the last 6 months since lockdown), or bring my laptop to a cafe when I fancy a change of scenery than pay for the privilege of sitting 20 feet away from the traffic on the Dublin Road.

Maybe they've managed to grab a load of Invest NI money to fund the co-working space?

Link to post
Share on other sites
On 07/09/2020 at 12:30, JoeDavola said:

They're actually just under 400 square feet:

https://lpsni.gov.uk/vListDCV/propertydetails.asp?di=03&dn=Belfast+City+Council&wi=0000001115&wn=Central&si=0000008054&sn=Dublin+Road&display=1047188&rn=71

I remember years ago someone on here mentioned that they almost didn't get planning permission on that block because the planning officials rightfully protested that the flats were so small.

£1700 service charge for that is an absolute piss take in my opinion; I'd love to know who actually bought those apartments - it must have all been aspiring airbnb-ers.

Will be interesting to see how the commercial premises fares as a 'co-working' space. Frankly I'd rather sit in my bedroom working (as I have been doing for the last 6 months since lockdown), or bring my laptop to a cafe when I fancy a change of scenery than pay for the privilege of sitting 20 feet away from the traffic on the Dublin Road.

Maybe they've managed to grab a load of Invest NI money to fund the co-working space?

co working space at the gallery- doesn’t look like much imagination has been used compared with other coworking places available.
2A6654D9-D3E8-42E1-8445-FD1B28FB09C8.thumb.jpeg.a5b08e76079ec2092337d5a1af044803.jpeg

Link to post
Share on other sites
2 minutes ago, nigooner said:

co working space at the gallery- doesn’t look like much imagination has been used compared with other coworking places available.
2A6654D9-D3E8-42E1-8445-FD1B28FB09C8.thumb.jpeg.a5b08e76079ec2092337d5a1af044803.jpeg

It looks like a Costa. 

With tthe current guidelines you'll be lucky to get 15 people in there. 

Edited by 2buyornot2buy
Link to post
Share on other sites
On 08/09/2020 at 15:42, nigooner said:

co working space at the gallery- doesn’t look like much imagination has been used compared with other coworking places available.
2A6654D9-D3E8-42E1-8445-FD1B28FB09C8.thumb.jpeg.a5b08e76079ec2092337d5a1af044803.jpeg

LOL check out Alan Sugar staring out from the book shelves.

Seems the main thing you need to convert a space into a co-working hub is Alan Sugar's autobiography.

Worth sitting in one of those backbracking chairs huddled together at that table during a pandemic when you have Alan's business knowledge behind you. You too could be the next Amstrad.

This time next year Rodney we'll be millionaires!

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 417 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.