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Glasgow - Merchant City

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Wondering if anyone had any comments on the new builds in the Merchant City?

Seems like there's an over-saturation of 1- & 2-bedroom new builds, and yet developers are still pricing like it's 2004. Mid to high-200s for 900 sq feet? Yeah, right.

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Stay away mate. People have cottoned on to the fact for the same money and a 10 minute commute, you can have a helluva lot more for your 200k.

Look at how many 'For Sale' boards there are down at Lancefield quay right now. The bubble has definately popped big time on the 1/2 bed developments in the city centre. 200k for studentville? Get real.

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Some parts of Paisley aren't that bad now; it tends to be heavily polarised into the OK areas and the really crap areas. A lot of money has poured into Paisley over the last 5 years however, so bargains are not really readily available as they once were, and the crap areas are really just on the back door of most of the new developments. I have friends who bought there 2 years ago, and have had real issues with car crime and so on. They are looking to move within this year if they can.

In short, you'll find yourself paying nearly top whack prices for a definitely not top whack area. If it was my money, I wouldn't go near Paisley just now because of that. Houses are going for (or very near) there money now, and so your capital appreciation wont be what it could be if you looked at other areas. All IMHO of course..

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Some parts of Paisley aren't that bad now; it tends to be heavily polarised into the OK areas and the really crap areas. A lot of money has poured into Paisley over the last 5 years however, so bargains are not really readily available as they once were, and the crap areas are really just on the back door of most of the new developments. I have friends who bought there 2 years ago, and have had real issues with car crime and so on. They are looking to move within this year if they can.

In short, you'll find yourself paying nearly top whack prices for a definitely not top whack area. If it was my money, I wouldn't go near Paisley just now because of that. Houses are going for (or very near) there money now, and so your capital appreciation wont be what it could be if you looked at other areas. All IMHO of course..

Many thanks for that.

I thought that the Anchor Mill looked quite interesting.

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If that's the refurb project they did at Seedhill (I may be thinking of the wrong one) then definitely stay away. 250k+ for 2 bedroom apartments are one thing if you have a stunning view over the older Glasgow architecture and the city with its theatres and restaurants literally at your doorstep, but in a less than salubrious suburb then its a joke. Most all of the target demographic have stayed clear.

Anecdotal only, but I hear they are having real trouble moving those, so if your really keen, haggle for a discount. Good luck.

Edited by billy-g

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Thanks for the feedback Billy.

I lived in the Merchant City from 1991 to '95, and really enjoyed the character & atmosphere of the place. So not really looking for a 10-minute commute from the 'burbs. Instead would like to have everything on my doorstep.

I've looked online at some of the new builds - the Herald Building, the Merchant Building, Sheriff Courts, The Hogg & McIntyre building, the Italian Centre Apartments, Fusion and The Cut - however like you said, you don't get a lot for your money.

Rentals in comparison seem fairly cheap. 550 to 1100 pcm for 2-bedrooms through Fineholm Letting. (No idea what the square footage is though).

Edited by <insert name here>

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If it was my money, I would definitely look at renting for a while to see if it stabilises. To clarify, I say that as someone in the position of Landlord; I have BTL interests, though NOT in the city centre or any of your target areas. I would be happy to clarify further via PM to show there is no conflict of interests.

I know what you mean ref the square footage of some of the new build/renovated kit. My wife is a partner in an IFA's in the city centre, and she has a lot of high net worth clients who have piled into certain developments as part of there BTL pension/city weekend crash pad etc, only to find you cant even get a king size bed in the main bedroom. Not good at all. Hence why the values of the older buildings are remaining very, very strong.

When it comes to purchasing, anything that's really desirable in the Merchant city area etc will cost money, but it certainly isn't going to shed it once the gloss wears off like a lot of the apartments I've seen lately.

Having an I-POD docking station in the walls does not excuse a criminal lack of space and a silly price tag I feel, and it'll be interesting to see if others judge the same.

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Hey Billy, I don't feel there's a conflict of interest, as STR is no longer limited to the UK.

I appreciate the insights you gleaned from your wife's clients. You mentioned that the older buildings have retained their value - do you have any examples? I owned a flat in the Canada Court development on Miller Street, but that was one of the early warehouse conversions (circa 1981?). I guess the key is to find a good-sized resale property (which can handle that king-sized bed) and at the same time is new enough to have modern appliances, double-glazing, etc.

I've been looking at resales on GSPC & Slater Hogg, but having spent 11 years away puts me smack in the middle of the uninformed crowd.

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No problem for me to do some asking if you like. Leave it with me, and I'll drop some hard info to you on PM. Good luck with the return from sunnier climes.

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  • 302 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%



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