Residential

Drug lord’s former Kerry bolthole goes to auction

Mansion in Sneem, guiding at €1.4m, is one of many choice properties in BidX1 auctions

Glashnacree House in Derryquin, Sneem, Co Kerry, was repossessed by the Criminal Assets Bureau from Dutch drug lord Jan Hendrik Ijpelaar in 2000

Thu Sep 14 2017 - 05:00

The upcoming BidX1 (formerly Allsop) auctions due to take place on September 27th and 28th feature properties to suit all budgets across the country. One of the most expensive lots, Glashnacree House in Derryquin, Sneem, Co Kerry, is an idyllic cut-stone mansion that was repossessed by the Criminal Assets Bureau (CAB) from Dutch drug lord Jan Hendrik Ijpelaar in 2000.

The six-bed house is offered for auction guiding €1.4 million and comes with tennis court, heated 40ft swimming pool, two guest lodges and 20 acres of grounds. The property's unfortunate past did not cease in 2000, as it seems that Cork-based property developer Sean Wyse, who acquired it from CAB for around €1.27 million, had his loans sold by Ulster Bank to Cerberus. A receiver was appointed this year and they are now disposing of the property.

Serious disrepair

And there's no shortage of other choice residential properties under the hammer at the auction. Number 69 Palmerston Road in Rathmines is one of the auction's highlights. The house was purchased in 2006 for about €3.3 million by developer John Morrissey, who lives across the street. The house is in a state of serious disrepair, and potential purchasers are unlikely to retain anything but the three exterior walls (or what's left of them).

With a guide price of just €950,000-plus, the substantial 262sq m (2,826sq ft) house is likely to appeal to a large number of well-heeled purchasers who want a blank canvas.

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For those without a taste for renovations, there is an immaculately presented townhouse at 10 Edward Square in Donnybrook, guiding €2.1 million-plus. The 400sq m (4,305sq ft) house is arranged over five levels and was previously for sale by private treaty for €2.5 million, and comes with an elevator and a 70ft rear garden.

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