Price of Foxrock mansion plunges by 47% as buyers refuse to bite

When it came to the market in September 2021, Tresillian House on Brighton Road in Foxrock looked set to sell quickly, notwithstanding the matter of the rather ambitious €4.75 million asking price set by its then selling agent, Colliers.

Built originally in 1865 and standing on an acre of mature, landscaped gardens in one of South Dublin’s most sought-after locations, the impeccably maintained home appeared to tick all the boxes for house-hunters at the uppermost end of the capital’s residential market.

Roll forward to today however and it would appear that the three-storey mansion is experiencing the same phenomenon as many of Dublin’s other high-end homes with buyers refusing to bite until vendors bring their prices down to what they consider to be an acceptable level.

After relaunching Tresillian House at the significantly lower price of €3.5 million when it took over the sale in May of last year, agent Knight Frank has now reduced its price by a further €1 million to €2.5 million in a bid to secure a purchaser. With the property now being marketed at a 47 per cent discount to its original €4.75 million asking price, it will be interesting to see how long it will take for it to show up as being sold on the Property Price Register.

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At 414sq m (4,455sq ft), the Victorian mansion and the 112sq m (1,200sq ft) bungalow in its garden must surely tempt someone for the money now being sought. It remains to be seen whether that someone is a wealthy buyer looking for a fine family home in a private setting, or a developer with designs for bespoke new-builds on its prized one-acre garden.