Standard Comer brothers strategy and well known too. Buy distressed assets and sit on them for years. The Sentinel building in Sandyford is a good example. Google has all the details, it's no secret.
Standard Comer brothers strategy and well known too. Buy distressed assets and sit on them for years. The Sentinel building in Sandyford is a good example. Google has all the details, it's no secret.
No One Likes Us, We Don't Care
It's in danger of falling over into the Ballisodare River, the foundations are subsiding, the site is not secured and anybody kids included can access it, nobody has ever lived there and nobody ever will it needs to be tossed.Originally Posted by Nesta99
Haha what? They certainly don't do everything right and I'm a Galway United fan! They are not even well liked down here, they have half of Galway bought up and a lot of it is sitting idle and derelict.
Derry and Crusaders have launched legal action against Gordon Lyon’s in regards of being overlooked in the recent grant awards….
https://m.belfasttelegraph.co.uk/spo...VB3aur5O19MZgw
Irish by birth ,Harps by the grace of god.
https://magnumlady.com/2024/03/11/th...igo-revisited/
Appreciate the detail. This is exactly what I meant in anothr thread where govt. et al neglect enforcement of regulations, imposing taxes on hoarding land and complex holdings manipulating supply, not using the derelict site act, not threatening compulsory purchase at significantly below market rates for purpoose of social housing. The mechanisms exist after the ghost estates debacle of the last decade. It is in part how SDCC took on Tallaght Stadium when SRFC couldnt manage or secure the development when it was becoming derelict and dangerous. There arguably could be a case fo Donegal CoCo in Stranrolar but it'd be more likely they would demolish to secure the site if Harps were not trying to sort it. I suspect that under this weeks new tax breaks for apartment complex sales that something will happen on this one. Its an eyesore due to its dereliction though rather than the development being poor. I dont like it when old buildings like Mills are demolished. Plenty have been restored and repurposed retaining the original building character.
Last edited by Nesta99; 09/10/2025 at 1:38 PM.
So true, I done a bit of survey work in Galway and a good few of the vacant properties led back to Comers, including some retail that had nothing visible wrong with them but were boarded up.
Half the city is vacant if you look close enough and yet we can't build hotels quick enough to cater for our new status as a city exclusively made for travelling tourists.
Last edited by CorribsideSteve; 10/10/2025 at 11:35 PM.
It's hard to know for sure what the strategy is, derelict and empty sites/buildings are rateable, however there are exceptions and clawbacks and I suppose people like the Comers are probably good at making good on those exceptions so landlords and property owners at scale are probably incentivised to restrict supply to keep rents high/ stable in the portion of their portfolio that is let.
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