New builds in ED (Tribeca + another): thoughts?

[DulwichLondoner]

I understand this was briefly discussed a few months back, but not since then (apologies if I may have missed more recent discussions).

AFAIK they're building two new developments in the area: one is the so-called Tribeca, by the gym on Crystal palace road, and the other is literally next to the ED station - there will be a M&S simply food on the ground floor.

Has anyone been in touch with the estate agent?

Thoughts on the two developments?

I saw ads of one-bed flats for ?475k at both. I understand new builds tend to cost a bit more, but that seems ridiculous. My benchmark is ? 480 to 550k for 2-bed flats, e.g. I have seen ads of decent 2-bed flats, with communal garden and parking space, in Hayes Grove (a few metres from the ED station) for ?530. That's the asking price - what they really sell for I don't know.

Plus, while the Tribeca should at least have some communal green space, the other one is so close to the station -literally next to it - you can probably hear the announcements. Maybe I'm stingy, but I know I'd want a discount to tolerate noise from the station!

It will be interesting to see if/when/how these units sell. I have seen other properties (not newbuilds) being discounted by 20% and still not selling. I imagine that, at the end of the day, with newbuilds it will all be driven by the kind of financing developers have in place, and therefore how low they can bear to sell.

[JohnL]

They never give discounts for noise :)

look at these prices wow.

http://www.rightmove.co.uk/new-homes-for-sale/East-Dulwich.html

[nxjen]

I wouldn't have thought noise generated from East Dulwich station would be too much of a problem, doors are not slammed shut and the trains themselves are quiet. With double glazing it would all be very muffled. Some would in fact see being in such close proximity to the station as a selling point.

[rendelharris]

Early morning/late night deliveries to the M&S and waste collections could be annoying though - believe those near the big M&S have had plenty of aggravation.

[DulwichLondoner]

The ED station isn't too bad because AFAIK all the trains that pass by stop there, so if you're next to the station they will be either accelerating or decelerating, ie slow either way. Plus being close to the new Charter secondary will be a plus for many.

I have seen properties next to stations on the Clapham Junction to Croydon line, and those tend to be cheaper because they're much noisier from all the fast trains speeding by without stopping.

However, this new build is literally next to the station, so there is a chance of hearing all the announcements.

Oh, well, it's a free world, if others want to pay close to half a million for a one-bed there, it's their right! :)

Also, asking price doesn't necessarily mean sale price!

[JohnL]

My flats are really noisy but it only bothers me occasionally - but you can close the double glazing (I like it open though).

Not for families - but OK for singles and young couples.

The 3 bedroom ones do seem to be for families though.

[SpringTime]

I think 3 or 4 of the Tribeca units are under offer despite the development still being finished. And one of those is a house (according to haart). There's a communal garden on top apparently.

[Seabag]

Are you actually in the market to buy anywhere?

Or just nosing on about the subject, or maybe another estate agent.

[DulwichLondoner]

Looking to sell current property, but most likely next year.

Why?

[SpringTime]

Back to the Tribeca I'd be interested to know how many have actually sold? Of the 20+ units there were a hew under offer when this thread was started as I remember it, I think one house and three flats. And one flat had exchanged. I think there'd been a screw up on the houses which had been marketed as freehold but turned out to be leasehold (after exchange) and this was down to their being built on top of the car park which sits under the majority of the site. The flats were all leasehold and looked very pricey but still sellable, then apparently the developers/development went into receivership. Presumably it was all sorted as some of the units are still for sale.

[cella]

For a while now the scaffolding has returned over the whole of the flats so presumably something needs correcting or maybe not properly finished if the original developers went into receivership. Just looks very shoddy.

[Azalea]

Still for sale more than two year?s later is *interesting*.

[fishbiscuits]

I think it's just slow times in the property market. Too much uncertainty. There are some perfectly good Victorian houses in ED and PR that have been on the market for absolutely ages... just not enough people willing to buy at the moment, with a stagnant economy, foreign investment slowing, cutbacks in The City, and Brexit looming over us like a dodgy uncle.

I'm quite keen on the Tribeca development (despite the daft name)... IMO it's a nice looking building. Was just built at the worst possible time.

[JohnL]

cella Wrote:

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> For a while now the scaffolding has returned over

> the whole of the flats so presumably something

> needs correcting or maybe not properly finished if

> the original developers went into receivership.

> Just looks very shoddy.

We've got scaffolding over Co-Op because our cladding is being replaced as it was marked up as not meeting the new demands.

I think it's similar for a lot of flats.