Buying a city centre apartment- a big no no?

Lady_S

Can't comment on the prices, but i imagine the stairs down on the first one would be lethal in the winter if they weren't gritted.

albreda

We've just recently brought a flat in Edinburgh City Centre. It's in a quiet location at the base of Calton Hill and backs onto Royal Terrace. It was built in 1830 and more recently belonged to the Playhouse (you can see the stage door to the theatre about 200 yards away - have yet to see anyone famous though). We have been extremly lucky to find such a good flat, it even has a private parking space (a rarity in Edinburgh City Centre).

It has been renovated but still contains many of the original features (though how original is always open to speculation) such as wooden floors, fireplace, alcoves and beamed bedroom ceiling.

I love the city centre and to be just 2 minutes from my favourites bars, 5 minutes from Princes Street etc yet out of the way of noise is fantastic.

I think buying is always somthing of a gamble, but for us (first time buyers) it has been a good one so far!

And I understand that Edinburgh City Centre flats are likely to rise in value by 50% over the next 3-5 years which is great. It's kinda strange to think your home is rising in value even as you're making the dinner...hehe

It tends to be the case that the further from the centre you go the more you get for your money - e.g. if we'd have gone for the suburbs we could've got a 2 bed house with a garden or more but you have to go for what you need and also bare in mind that there is a great demand for city centre flats (at least here) so you stand to make more money if you sell in the years to come.

So, I say "Yes, buy in the city centre!" if the city centre has what you want.

damo101

This link might help (or may muddy the waters):

http://www.housepricecrash.co.uk/forum/index.php?showtopic=27019

It's nothing special but some of the opinions seems to be valid, even if biased

Jim_B_3

albreda wrote:

And I understand that Edinburgh City Centre flats are likely to rise in value by 50% over the next 3-5 years which is great. It's kinda strange to think your home is rising in value even as you're making the dinner...hehe

More money for the same thing sounds like a drop in value to me.

seven-day-weekend

Bil2 wrote:

I'm looking to buy in Manchester. I'm viewing over 10 apartments in the city tomorrow. At the moment I'm leaning towards the Northern Quarter because it's within waking distance to mine and my partner's work places and I've heard that it is one of the best city centre areas to invest in at the moment. Out of all the apartments that I'm viewing, my favourite is this one:
http://www.rightmove.co.uk/viewdetails-8760623.rsp?pa_n=7&tr_t=buy

followed by this one:
http://www.rightmove.co.uk/viewdetails-7278001.rsp?pa_n=7&tr_t=buy

Does anyone who lives in Manchester have any thoughts/advice on either of these properties?

LOVE the second one....can't comment on any price though.

I always thought if I was a single person with no ties I'd have a city centre place and a Smart car.

Recently fallen in love with Malaga city centre.

terrierlady

we had a development in central Cardiff sold very well and lots were in investors who rented them out short term ie weekends, plenty went to FTByrs getting a step on the ladder so to speak and overall a good mix of purchasers.

BobProperty

Bil2 wrote:

....At the moment I'm leaning towards the Northern Quarter because it's within waking distance to mine and my partner's work places and I've heard that it is one of the best city centre areas to invest in at the moment......

As an old cynic who doesn't like city centre living, by who (it wasn't a developer or estate agent by any chance) and compared to what? Other area that are falling in value, keeping cash under the matress, etc.? I don't think the figures on the housepricecrash thread are made up.

Both those locations are subject to heavy traffic 24/7, in one case it's next to the tram route (although they don't run 24/7, but don't complain if they do in a few years please, they're more environmentally friendly that cars).

hazeyj

BobProperty wrote:

Out of the places I've been in, there are some quality conversions in Princess Street which I liked the look of. No parking but straight out of the front door into the city centre. Around St John's Street, Byrom Street used to be "Pied a terre" territory for the legal profession, don't know if it still is. It's not an area I'm really into as I'd never live anywhere like that, and I wouldn't invest in an area like that either.

edited to say I've just had a look on Rightmove and I can't believe the prices. I think this is overpriced by a factor of 10 :eek:
http://www.rightmove.co.uk/viewdetails-3786069.rsp?pa_n=1&tr_t=buy

The Grand is a listed building and quite lovely inside and outside but the tram noise I would imagine to be terrible! They are normally quite large apts tho..around 1000 sq I think.which is quite large for manchester.

hazeyj

Bil2 wrote:

I'm looking to buy in Manchester. I'm viewing over 10 apartments in the city tomorrow. At the moment I'm leaning towards the Northern Quarter because it's within waking distance to mine and my partner's work places and I've heard that it is one of the best city centre areas to invest in at the moment. Out of all the apartments that I'm viewing, my favourite is this one:
http://www.rightmove.co.uk/viewdetails-8760623.rsp?pa_n=7&tr_t=buy

followed by this one:
http://www.rightmove.co.uk/viewdetails-7278001.rsp?pa_n=7&tr_t=buy

Does anyone who lives in Manchester have any thoughts/advice on either of these properties?

See my comments re the grand..but the sorting house is a lovely building and the apts are quirky which I like. I'm not too sure about the road at night tho. Would you feel safe walking there on your own after dark?

There is a nice two bed here... http://www.rightmove.co.uk/viewdetails-12678926.rsp?pa_n=1&tr_t=buy

I reckon you could knock them down on the price tho as I'm quite sure its an investor looking to get rid of a rental property. You can PM me for more inside info if you like?

hazeyj

Also with noise issues and the trams etc. Obviously the higer up you go the less noise you will hear. I live next to a tram stop now but because I am on the top floor, it doesnt bother me. I would imagine that the people on the lower floors it would bother them tho.

On the subject of the Grand, the fact that its a busy main road as well as being very close to piccadilly bus and tram stations, there are always accidents there with trams and people, tram horns blaring etc would mean that if you lived on the front of the building it could bother you. If its round the side or back then its quieter but the views arent much cop.

Let me know which ones you want to second view and I'll have a look.