JoeDavola Posted September 11, 2016 Report Share Posted September 11, 2016 (edited) 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 September 11, 2016 by JoeDavola Quote Link to comment Share on other sites More sharing options...
MattW Posted September 11, 2016 Report Share Posted September 11, 2016 Sounds horrendous. Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted September 11, 2016 Author Report Share Posted September 11, 2016 (edited) 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 September 11, 2016 by JoeDavola Quote Link to comment Share on other sites More sharing options...
MattW Posted September 11, 2016 Report Share Posted September 11, 2016 I wonder if the freeholder can enforce a 'minimum occupation' type rule on the leaseholders, eg: no more than 3 people per flat to stay overnight on any day. Quote Link to comment Share on other sites More sharing options...
calm-on-the-surface Posted September 14, 2016 Report Share Posted September 14, 2016 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. Quote Link to comment Share on other sites More sharing options...
calm-on-the-surface Posted September 14, 2016 Report Share Posted September 14, 2016 Landlordzone is a good site for info on all legal stuff. I have used it and the posters are very helpful. Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted September 26, 2016 Author Report Share Posted September 26, 2016 (edited) 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 September 26, 2016 by JoeDavola Quote Link to comment Share on other sites More sharing options...
Dr Pepper Posted October 28, 2016 Report Share Posted October 28, 2016 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 Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted October 28, 2016 Author Report Share Posted October 28, 2016 (edited) 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 October 28, 2016 by JoeDavola Quote Link to comment Share on other sites More sharing options...
Dr Pepper Posted October 28, 2016 Report Share Posted October 28, 2016 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...) Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted October 28, 2016 Report Share Posted October 28, 2016 (edited) 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 October 28, 2016 by 2buyornot2buy Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted October 28, 2016 Author Report Share Posted October 28, 2016 (edited) 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 October 28, 2016 by JoeDavola Quote Link to comment Share on other sites More sharing options...
Dr Pepper Posted October 29, 2016 Report Share Posted October 29, 2016 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! Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted October 29, 2016 Author Report Share Posted October 29, 2016 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. Quote Link to comment Share on other sites More sharing options...
darkmarket Posted April 11, 2017 Report Share Posted April 11, 2017 Sad how this view hasn't changed since these apartments were built. It's become like an image of NI's inertia and it's like the elephant outside the room in this place. Quote Link to comment Share on other sites More sharing options...
MartinUpTheWall Posted February 24 Report Share Posted February 24 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. Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted February 25 Author Report Share Posted February 25 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? Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted February 25 Author Report Share Posted February 25 Oh and out of interest whree is this social housing being built near the marina? Wouldn't mind putting my name down and getting one of those myself Quote Link to comment Share on other sites More sharing options...
satsuma Posted February 26 Report Share Posted February 26 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 Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted February 26 Report Share Posted February 26 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. Quote Link to comment Share on other sites More sharing options...
satsuma Posted February 26 Report Share Posted February 26 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. Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted February 26 Report Share Posted February 26 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$%## Quote Link to comment Share on other sites More sharing options...
satsuma Posted February 26 Report Share Posted February 26 Just now, 2buyornot2buy said: No doubt linked to the builders employed to fix the issue and with a larger number of flat still unsold, there isn't a majority of shareholders available to change the MCo. 50k bill and no Airbnb. Cluster$%## 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. Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted February 26 Author Report Share Posted February 26 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. Quote Link to comment Share on other sites More sharing options...
satsuma Posted February 26 Report Share Posted February 26 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 Quote Link to comment Share on other sites More sharing options...
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