Business Irish

Saturday 10 December 2016

D4 trophy sales close to €36m

DONAL BUCKLEY Commercial Property Editor

Published 01/12/2011 | 06:00

43 Ailesbury Road, Dublin 4 has been sold for a 'satisfactory price' by Knight Frank Ireland for the receiver Paul McDowell
43 Ailesbury Road, Dublin 4 has been sold for a 'satisfactory price' by Knight Frank Ireland for the receiver Paul McDowell

A SEVENTH trophy house has been sold in the Ailesbury Shrewsbury roads area of Dublin 4 bringing to almost €36m. the value of the sales achieved in the area this year. Simon Ensor of Sherry FitzGerald had been asking €4.25m. for the elegant semi-detached period house at 14 Ailesbury Road. While declining to discuss the price he is believed to have secured between €3.5m and €4m.

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The deal follows NAMA's recent sale of Derek Quinlan's two houses at 43 Ailesbury Road, a two storey over garden level end-of-terrace house and its mews to the rear at 18 Ailesbury Wood. The receiver Paul McDowell of Knight Frank and his agents Lisney had been expecting to achieve over €3m for the two houses but are believed to have settled for around €2.75m.

This year's seven sales saw Ailesbury and Shewsbury houses ranging in price between €2.3m and €9.5m. Only last week, as revealed on these pages, Woodside at 18 Shrewsbury Road, went sale agreed with Colliers international for a price believed to be in excess of €7m. Last month Bernard McNamara sold his house on Ailesbury Road for about €9.5m.

Earlier this year Mr Quinlan sold his family home, Deramore, on Shrewsbury Road, Ballsbridge for a figure thought to be about €7m.

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In July, 35 Ailesbury Road, a two storey over garden level semi, was sold under the hammer at an Allsop Space auction for €2.325m. Sherry FitzGerald also sold another elegant period house off market.

Meanwhile, observers are still awaiting the outcome of the tenders for Walford, the house which set the record for Shrewsbury Road when it sold for €58m in 2005. Gayle Dunne, wife of developer Sean Dunne, is understood to have put this up for sale with a €15m. price tag.

Two other Quinlan houses on Shrewsbury Road, numbers 1 and 3, are also for sale. He purchased these for an estimated €27m. and planned to redevelop the site, as apartments or as a 2,787sqm (30,000sq ft) mansion.

The houses are now for sale through Sherry FitzGerald, asking €7.5m for the two.

The Belgian government has bought another of Mr Quinlan's Ballsbridge houses, 1 Elgin Road. It plans to move its embassy there from the corner of Ailesbury Road and Shrewsbury Road.

Mr McDowell, who was appointed by NAMA, was asking €2.95m for the 390sqm six bedroom semi-detached Elgin property. Mr Quinlan paid €7m for it at the height of the boom in 2007 and also spent a substantial sum on a high-quality fit. It also has a coach house in the garden.

Separately, Knight Frank Ireland is seeking in the region of €5m for Quinlan Private or Avestus' former offices at 8 Raglan Road on the corner with Elgin in Ballsbridge.

Like many Quinlan properties, it has been expensively refurbished.

Irish Independent

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