€1 million price drop for well located property

DONNYBROOK €2.25mThis four-bedroom house on Nutley Lane, which was extensively and expensively refurbished, has seen its price fall by more than €1 million

EXACTLY ONE YEAR ago we carried a review of a house at 18 Nutley Lane in Donnybrook that had been bought as an investment with the intention of doing it up and sellling it on at a profit.

The owners of the four-bedroom house purchased it in 2006, paid stamp duty at nine per cent, and spent several hundred thousand on renovations. In all, they probably spent in the region of €3.5 million.

It went back on the market last November at €3.25 million, to snorts of disbelief from rival agents who were finding it difficult to shift property in the area for a good deal less.

The price has been gradually dropping ever since, but the latest discount has landed number 18 at €2.25 million, a full million below its 2007 price.

Selling agent Felicity Fox hopes this latest cut might tempt buyers who scent a bargain and don't want the hassle of builders.

Located close to Elm Park Golf Club and RTÉ, it was originally a fairly modest semi but now has 258 sq m (2,780 sq ft) of accommodation with a good mix of family and formal space leading off the room-sized hallway.

There are two fine interconnecting reception rooms and a 36ft eat-in kitchen that spans the back of the house and overlooks the 40ft back garden. Pale oak floors throughout the ground floor make the space seem larger.

Upstairs, all the bedrooms are comfortable doubles while the main bedroom has a dressingroom and shower room.

18 Nutley Lane, Donnybrook, Dublin 4

Close to Elm Park Golf Club and RTE, with 258 sq m (2,780 sq ft) of accommodation

Agent: Felicity Fox