Sean Dunne's luxury mansion sold for knockdown €5m
Ballsbridge Baron Seán Dunne's former residence on Shrewsbury Road, Dublin, has been bought for a knockdown price of over €5.5m.
The price is about €1.5m less than what was sought for the property, known as Ouragh, when it had a €7m price tag in 2015.
The sale has only gone through after the agents Colliers spent close to €40,000 on a makeover by hiring lavish furniture, artwork and furnishings worth about €100,000.
Nevertheless, an expert on Dublin 4 property says the latest Irish purchaser would appear to have got very good value at the €5.5m-plus price.
The home was originally placed on the market by receivers HWBC acting on behalf of Bank of Scotland in the middle of last year with a price tag of €7m attached. This was subsequently cut to €5.5m in the wake of Brexit when it appeared that there was less interest from prospective UK buyers and Irish ex-pats.
Seán Dunne and his wife Gayle Killilea are reported to have hosted some of Ireland's rich and powerful at parties in Ouragh during the height of the Celtic Tiger. It has five extra-large reception rooms, a jacuzzi ensuite, its own pub and gym and six bedroom suites.
At around 1,000 sq ft each, the drawing room, master bedroom suite and kitchen dining room at Ouragh are all roughly equivalent in floor space to that of an entire average family home.
However one of its drawbacks relative to other houses on the road is its relatively small back garden.