Two adjoining houses on almost an acre in Shrewsbury Road, Dublin 4, are back on the market following the refusal of planning permission to demolish them and build an expensive apartment development. Orna Mulcahy, Property Editor, reports.
Lisney expects to secure more than €17 million for the two 1920s houses at 1 and 3 Shrewsbury Road which were bought privately more than a year ago and have remained empty since.
The sale by tender is timed for June 28th - two days before the sale of Walford, the large detached house on 1.8 acres on Shrewsbury Road that is expected to set a record price for a Dublin house.
It could make up to €50 million, according to some property sources and whoever buys it is certain to redevelop the prized site for either apartments or houses.
The timing of the sale has raised questions as to the ownership of numbers 1 and 3, which has never been disclosed. Speculation has centred mainly on other residents of the road, notably housebuilder Sean Dunne and solicitor and property investor Stephen Mackenzie.
Both names have been linked to the property, along with that of solicitor Ivor Fitzpatrick who is acting for the vendors, but ownership has never been proven.
It is thought likely that these three individuals, along with other residents on the street, including accountant Derek Quinlan, will be in the running to buy Walford, which last changed hands in the 1950s.
The availability of three houses on Dublin's most prestigious road is being seen as quite a phenomenon in property terms. The last auction to happen on the road was in 1999 when number 7, a similar house to numbers 1 and 3, was sold for around £2.5 million (€3.1 million) - a long way short of the €10 million and €7 million being guided for 1 and 3 respectively. Since then there have been a couple of private sales on the road, most recently the sale of a modern house at number 28 for a figure thought to be around €8 million.
Numbers 1 and 3 are typical Crampton-built family homes - solid, spacious five-bedroom semis with large attics which could be converted into extra rooms. Number 1 has a larger garden that runs alongside the Merrion Road, while number 3 is more sheltered from the traffic.
Both houses are in need of considerable upgrading, which could cost an additional €1 million in each case.
Selling agent Peter Kieran expects the houses to be sold in individual lots following the refusal of planning permission to replace them with a block of 12 apartments.
It is unlikely that another planning application to redevelop the site will be made, given the tone of the planners' refusal.