Friday 20 April 2018

The pride of 'Bel Eire', Sorrento House, reportedly sold for €10.5m

Sorrento House
Sorrento House
Mark Keenan

Mark Keenan

Sorrento House, the Dalkey property which defined the birth of Ireland's property boom when it was purchased in 1998 for €7.1m, has reportedly been sold for €10.5m - after the owners spent €20m over the years on restoration and extension costs.

It is believed that a deal was been brokered in London by the international firm of Christies. However, they could not confirm the deal.

If the sale takes place, then it marks the end of a saga which began with the famous 1990s sale which smashed all Irish property price records for years to come.

However, the biggest trophy home purchase of the 90s didn't bring the new owners much luck. It became involved in 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 charged with clearing up litigation.

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 house was in poor condition when sold in 1998.

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 and 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.

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business