€7m price tag as palatial Dunnes home up for sale
Published 16/05/2015 | 02:30
A Celtic Tiger era mansion on Dublin's Shrewsbury Road which was previously at the centre of a court petition involving Sean and Gayle Dunne is about to be sold with a likely market value in the order of €7m, the Irish Independent has learned.
'Ouragh', which sits on Ireland's most expensive street in Ballsbridge, Dublin 4, was built in 2002 and has the floor area of nine three-bed semis. It was at one time referred to in US bankruptcy proceedings as Mr Dunne's principal private residence.
Peter Kenny of Colliers - who yesterday lodged the preliminary announcement of intended sale of the property - was not available for comment about the identity of the vendor.
Ouragh, which was being rented out to the South African Embassy until last year, is a modern home in a period red brick and bay window style.
It has four reception rooms and six ensuite bedrooms over four floors.
The Celtic Tiger-era pad has its own bar, a home cinema, a billiards room, and a gymnasium with a sauna and shower. It even has a lift to all floors.
Last year Bank of Scotland petitioned a US court to clear the way for its plan to seize the house from the Dunnes.
At the time the bank claimed it was owed a total of more than €12m in loans advanced against the property, which it said were originally paid out in two instalments - €7m when it was first built in 2002, and another €5m as the Irish property market tipped into the downturn in 2007.
The couple were also linked to the most expensive home in Ireland which is situated nearby.
Mr Dunne always denied owning Walford, an Edwardian mansion on Shrewsbury Road, insisting he gifted his wife €58m to buy the house a decade ago.