The Edge by Sansiri

[striderman]

13 minutes ago, davidge said:

That plot has been bought by a hotel chain. They published detailed plans on the 2 hotels to be built there and cleared the lot.

Nothing has happened since. No idea when/If construction will start.

they did the piling couple of years ago

[SirL]

3 hours ago, KittenKong said:

The developers dont care. The Base is sold out so they (Sansiri) have nothing to lose by putting another condo in front of it. Look at the Diamond Tower on Pratumnak which will block the view from the building next to it. Or the new building that is being launched on 3nd Road just opposite the City Garden Tower, near Tony's Gym. Both examples of a developer snookering (if not to say shafting) those who bought into their earlier developments. It is common practice to start at the rear of plots and to work forward.

In practice, one reason they are building on the old Diana Inn plot is probably so that the new condo can share the entrance of the  Base, thus avoiding wasting space on driveways etc.

It's a standard part of the due diligence when buying a property with a view, to check the status of the land just in front of the property to see if it could be built (higher) on.  You may remember some guy selling a double condo with a nice sea view on a high  floor of Central Condos via this site a few months ago - on that thread I asked the question of what the status was of the land currently containing a temple right in front of that condo block.

[striderman]

19 minutes ago, SirL said:

It's a standard part of the due diligence when buying a property with a view, to check the status of the land just in front of the property to see if it could be built (higher) on.  You may remember some guy selling a double condo with a nice sea view on a high  floor of Central Condos via this site a few months ago - on that thread I asked the question of what the status was of the land currently containing a temple right in front of that condo block.

temples don't move

[SirL]

1 hour ago, striderman said:

temples don't move

Some do.  Google Abu Simbel. 

But seriously, I get that temples probably have some sort of special status, but you always want to check up what the status is of land right in front of your great view.

This is the view from the Base top platform that will soon get another building of the same height pretty much directly in the direction of the sun.  A bummer because its the view in that direction that is the key view from up there.

[barmatt]

Any idea what the prices will be?

[usexpat46]

8 hours ago, striderman said:

temples don't move

But they do build parking lots.

[brutox]

On 4/23/2018 at 16:04, davidge said:

Sansiri are one of the very few ‘proper’ developers operating in Pattaya so less of a risk than with many. You pay a premium as a result, though.

Correct, davidge, and a critical distinction for anyone taking the gamble of buying off plan in Pattaya.

For those who read the horror stories common amongst many local developers, Sansiri is not counted amongst them.

[On his long strolls about Pattaya, expat member striderman has photographed nearly a full-length documentary's worth of failed Pattaya projects by local developers who are not sufficiently creditworthy for bank loans, but convince unsuspecting buyers to pre-pay for the chance that they will finish their project on pre-sales.  Hah, I consider what striderman does a public service! ]

Sansiri is a publicly-traded, so have the credit rating to qualify for bank financing .. once they commence construction, the bank assures that it will be finished, regardless of sales.

They've been developing for 30+ years, and have a long history of completing buildings and delivering title deeds upon completion.

Buyers can purchase safely from these guys, if this is their product and location.

 

[striderman]

On 4/23/2018 at 16:22, blueye44 said:

Yes , i looked around for two years, wasnt until Sansiri came on scene  that i signed., every other project at the same time is unfinished, not started even

meanwhile in my photo archives some stage pics of the Base by sansiri.................

above aug 11 th 2014 seen from soi diana. lk residence left of pic looks a big building then but soon to be dwarfed

aug 16 2014 above. seen from LK Metro

 

now fast forward only 1 year to aug 6th 2015.................

lk residence bottom left of pic

dec 20th 2015. structure complete at least on the outside and tower cranes all gone. lk residence far right side

 

at the time of the first pics the only way into the site  was past large gates on second rd so i dunno exactly when they did the foundation work. but compared to other pattaya build projects they really got a wiggle on !

[Scuba+]

This Edge once completed could be built all round as well, Soi Diana side, 2nd road, etc

 

 

[brutox]

 

14 hours ago, SirL said:

It's a standard part of the due diligence when buying a property with a view, to check the status of the land just in front of the property to see if it could be built (higher) on ...

You are spot on, SirL .. buyers just gotta do this stuff .. especially in Thailand, where there are really few firm regulatory controls on land uses.

1 hour ago, scubascuba3 said:

This Edge once completed could be built all round as well, Soi Diana side, 2nd road

Aww, not good, scubascuba3, not good.

 

While buyers' typically confine their efforts conducting due diligence within the property they are considering, a measure of effort should be dedicated to the neighborhood.

A typical family buyer might be looking at schools, convenience shopping, traffic, parks, proximity to emergency services, local police reports for the area, nearby nuisance uses, and such.

But, a condo buyer in a still relatively wide-open market like Pattaya should also consider future uses on adjoining land .. is there zoning preventing other nearby highrises, or nuisance late night uses? .. are there high traffic generators nearby? .. is there adjoining vacant land large enough to carry another highrise? .. are the buildings adjoining it still market relevent (so that they are not demolished and re-developed into a highrise)? .. does the developer own adjoining land?

Stuff like that.

These should be on anyone's due diligence list anywhere, but especially if there is an appealing view corridor that is the hook that sells the place.

 

[Oukiva]

On ‎25‎/‎04‎/‎2018 at 06:45, barmatt said:

Any idea what the prices will be?

Pre-sales will start in 2 weeks with a starting price of 3.99 million baht 

presumably for a low floor studio 26 sqm .

That makes Edge units from 150'000 baht/sqm !! 

Their website:  Edge central Pattaya

[striderman]

taken today

 

 

[striderman]

friday

[SirL]

I feel very very sorry for whoever owns these condos between floors say 10 and 27

which had a good view but soon won't.  And they'll lose a third or a half of the value of their investment.  Sorry.

[KittenKong]

6 hours ago, SirL said:

And they'll lose a third or a half of the value of their investment. 

Surprisingly, views seem to have relatively little impact on prices here.

[chris2004]

16 hours ago, SirL said:

I feel very very sorry for whoever owns these condos between floors say 10 and 27

which had a good view but soon won't.  And they'll lose a third or a half of the value of their investment.  Sorry.

What about the renters in the hotel facing west. They will be in total darkness.

[SirL]

3 hours ago, chris2004 said:

What about the renters in the hotel facing west. They will be in total darkness.

They didn't pay a big price for a view that they'll lose.

[tsec]

They didn't pay a big price for a view that they'll lose.

I stayed in one of the Residence rooms facing the site last week for a few days.
Strange, but the room smelled like it hadn't been occupied for a long time. You know, that closed up musty smell.
I guess people preferred to stay away from the site.
But yeah, once this thing is up the folks adjacent will no doubt spew.

Sent from my LG-H840 using Tapatalk

[striderman]

today

 

 

 

 

 

[LOTTELLEE WINNA]

On 4/25/2018 at 00:52, SirL said:

It's a standard part of the due diligence when buying a property with a view, to check the status of the land just in front of the property to see if it could be built (higher) on.  You may remember some guy selling a double condo with a nice sea view on a high  floor of Central Condos via this site a few months ago - on that thread I asked the question of what the status was of the land currently containing a temple right in front of that condo block.

One of the classic objector comments to a planning application is that "it will spoil/block my view". Of course the planning officer's tart response is "you haven't bought the view" 

[SirL]

5 minutes ago, LOTTELLEE WINNA said:

One of the classic objector comments to a planning application is that "it will spoil/block my view". Of course the planning officer's tart response is "you haven't bought the view" 

Sure, if a 31 floor building is built somewhere, it should be your working assumption unless proved otherwise that another 31 floor building would be granted permission on the adjacent land.  Of course I'm talking eg UK here, Thailand is different etc etc.

[usexpat46]

Before any work on the Base began it was sold out. When I first heard about that I didn't believe it but on one of my noon strolls I stopped in at their recently finished showroom and asked about the condo.  The sales rep there told me that all units were sold but the developer was going to be building another project up on Wongamat Beach if I was interested.  I wonder if the Edge will have that type of  success.

[brutox]

3 hours ago, usexpat46 said:

Before any work on The Base began it was sold out. When I first heard about that I didn't believe it but on one of my noon strolls I stopped in at their recently finished showroom and asked about the condo.  The sales rep there told me that all units were sold but the developer was going to be building another project up on Wongamat Beach if I was interested.  I wonder if the Edge will have that type of  success.

By gross revenues, Sansiri is rated variously over the last years somewhere in the top 3 largest publicly-traded real estate developers in the country .. their marketing is about the best there is, so they get great market coverage and they know how to sell.

Because Sansiri is publicly-traded and a professional developer, they are credit-worthy and secure conventional development loans .. a distinctive advantage over the local-local developers who are always a risk of failing to complete their projects if pre-sales stall below a critical threshhold.

Buyers that follow Sansiri include: (i) speculators, who hope to sell their pre-sale contracts to follow-on buyers just as the project is ready for transfer; (ii) investors, who will own units long-term and count on rental income and capital appreciation; and, (iii) end users who will live in the condos they buy.

Because Sansiri finishes their projects on time, the first two categories of buyers follow them from project to project .. analysts note that Sansiri enjoys much higher pre-sales bookings than their competitors.

 

[KittenKong]

On 20/05/2018 at 20:15, usexpat46 said:

Before any work on The Base began it was sold out. When I first heard about that I didn't believe it but on one of my noon strolls I stopped in at their recently finished showroom and asked about the condo.  The sales rep there told me that all units were sold

This is true. The Base sold out on the launch weekend. But there was a reason for this: Thais could "buy" with just a 5000B deposit, and many did exactly that with a view to "flipping" later, as mentioned.

[hioctane]

I like the way they call a 33 sq m condo "Large". Those hotel rooms facing 2nd road will be darkness..

Size is all relative. Unixx has 22 sq m condos!