Southside apartments at knockdown prices

New homes in a a development in Booterstown and in a scheme opposite a new Luas stop in D18 are for sale at around half the price they would have sold for a few years ago

BOOTERSTOWN: from €215,000

BOOTERSTOWN Wood is a legacy of the Irish Nationwide Building Society’s foray into the property business. Irish Nationwide decided late in the game to become a property developer and built this apartment complex on a site owned by it.

Unfortunately, the timing was not very propitious and the 62-unit apartment complex was only completed nine months ago. The apartments are most likely being sold for less than the cost of building them.

It is now coming to the market at prices half of what apartments in a similar adjacent development went for during the boom years.

One-bedroom apartments of 55sq m (590sq ft) are priced from €215,000; two-bedroom apartments cost from €289,000 and 95sq m (1,020sq ft) two-bedroom duplex penthouses cost from €355,000. Prices include designated car spaces.

The economic crash has well and truly blown the froth off property prices even in an area as well-appointed as Booterstown in the heart of south Dublin, with one of the quality bus corridors on the N11 on one side and the Booterstown Dart station on the left.

The complex was built by Brian M Durkan and Co on behalf of Irish Nationwide. It has many of the features that one would expect from contemporary apartments. There is an expanse of glass and panoramic views over Dublin Bay,.

The landscaping, on what is a relatively small development, has been completed.

All the apartments have the bells and whistles you expect from a modern design. The bathrooms are particularly well finished with chrome taps, floor-to-ceiling tiling, heated towel rails and mirrors.

The main bedrooms have en suite bathrooms.

There are granite worktops and integrated appliances in the kitchens and each apartment has gas-fired radiator central heating.

Even in a depressed market, the agent, Hooke McDonald, expects there will be high demand when viewings starts today at 12pm.

“The main thing is the location,” said estate agent David Cantwell. “This is fully-built and fully-finished. What you see is what you get. It is a very good price,” he said.

Booterstown Wood, Booterstown Avenue, Co Dublin

One and two-bedroom apartments from €215,000

Agent: Hooke McDonald

LEOPARDSTOWN:  from €210,000

THE opening of the new Luas extension from Sandyford to Cherrywood this weekend could not come at a better time for the owners of the Elmfield apartment complex in Ballyogan Road, Leopardstown.

The development was finished in October 2008 by well-established builders Dwyer Nolan just at a time when the financial crisis began which has stymied the property market since.

Elmfield is across the road from the new Gallops Luas stop, making it a 40-minute journey into St Stephens Green every morning.

There are four blocks in the development. To date half the apartments in just one of the blocks, known as The Sycamore, have been sold.

A further 16 apartments go on sale this weekend and the vendors, Sherry FitzGerald New Homes, are confident that the “Luas effect” will help shift the units.

Elmfield has views of the Dublin Mountains on one side and the city on the other hence the marketing slogan “between two worlds”.

As in most apartment complexes, prices are down between 40 and 50 per cent of what they would have been at the peak of market. When they first came to market, the prices reflected the downturn which occurred in late 2008.

One-bedroom apartments are €210,000 on the ground floor to €225,000 on the top floor and they are each 52sq m (570sq ft), 75sq m (807sq ft) two-bedroom apartments are from €265,000 to €285,000 and one three-bedroom apartment on sale is €305,000. The sellers may be open to offers depending on demand.

Each apartment has a fully-fitted kitchen, en suite bathrooms, gas-fired central heating system and high ceilings along with underground parking.

Each apartment has a 9.75sq m (105sq ft) balcony, many with good views of the Dublin Mountains.

Agent Eoin O’Neill of Sherry FitzGerald New Homes believes the scheme – near Sandyford Industrial Estate and the Dundrum Town Centre as well as the new Luas stop – should attract first-time buyers as well as older people trading down in the area.

Elmfield, Ballyogan Road, Leopardstown, D18

Apartments from €210,000 across the road from new Gallops Luas stop in D18

Agent: Sherry FitzGerald New Homes