Sorrento House sold for a reported €10.5m in Dalkey
SORRENTO HOUSE, the Dalkey property which defined the birth of Ireland’s property boom when it was purchased in 1998 for €7.1m, is being reported finally sold for €10.5m - after the owners spent €20m spent over the years on restoration and extension costs.
Reports suggest that a deal was been brokered in London by the international firm of Christies however yesterday Christies could not confirm the deal. If the sale takes place, then it marks the end of a long running saga which began with the famous 1990’s sale which smashed all Irish property price records for years to come.
However the biggest trophy home purchase of the 1990’s didn’t bring the new owners much luck. It became the subject of a costly series of litigations and a sale worth €22m fell through some years ago – it was to have been bought by solicitor Brian O’Donnell of Gorse Hill fame. At one point it was speculated that the long time owners Terry and Anita Coleman, were seeking €30m for the property.
The eight legal cases it became the focus of, caused one lawyer to describe the property as “Ireland’s unluckiest” house. One of these included litigation against lawyers who had been retained to handle litigation involving the property.
The saga of the Sorrento Road property began in a gasp inducing auction bout by the Lisney agency in 1998 during which saw speculation that the property was bought by Hollywood actor Jack Nicholson (Dalkey was known as “Bel Eire” at the time). It was in fact acquired by UK based car alarms magnate Terry Coleman, who immediately became embroiled in a series of controversial planning permissions to extend and renovate the property.
The Colemans doubled its size to 7,685 sq ft with a two storey extension put on. The house now has six bedrooms, the garden has a private bathing area, the entrance hall is floored in rare Jerusalem Stone. There’s a six car garage on two floors and it comes with a high end cocktail bar opening out on to the viewing terrace. There’s a gate lodge on site to accommodate extra guests.
The IR£5.9m price paid in 1998 was subjected to many claims that the Irish property market was “going mad.” From that year prices on would rise steadily until the sale was eclipsed in a big way by the €58m paid in late 2005, for “Walford” in Shrewsbury Road – today acknowledged to be the high tide point of the boom’s residential “madness.”
The local agents representing the Colemans were Lisney and Sherry FitzGerald.