Saturday 17 February 2018

Baldoyle launch appeals to first-time buyers market

Properties at the Silverbanks development in Baldoyle
Properties at the Silverbanks development in Baldoyle
Many units enjoy uninterrupted views over the estuary

Buyers queued from as early as Tuesday of last week for the launch of Silverbanks in Baldoyle, with family members taking shifts to hold queue places.

It's a sign of the times, with queues becoming something of a regular feature at launches in the last few months, but in this case, it is also reflective of the fact that this development offers a chance for first-time buyers to purchase in an area surrounded by some of North Dublin's most sought-after suburbs, at a price that would typically be seen in the commuter belt.

Prices range from €155,000-€380,000, and the development includes two- and four-bed terraced houses, two- and three-bed duplex units, and one-, two- and three-bed apartments, with sizes ranging from c57sqm-155sqm. In total, there are 205 A3-rated units.

Silverbanks is minutes from Baldoyle village, and Portmarnock village and Sutton Cross are approximately 3km away. The area has good bus, Dart and train links.

Situated on Red Arches Road, many of the units enjoy uninterrupted views over the estuary and Howth Head. The Rowan block, an apartment block of 14 units, is positioned right at the periphery of the site, facing out over the old Baldoyle racecourse lands, none of which is zoned residential. This structure was actually started pre-crash, and the exterior shell had stood empty until work began again in the last few months.

Buyers are expected to be "predominantly first-time buyers," says selling agent Gavan Ryan of Savills. There has also been interest from trade-down buyers and queries from potential investors on what kind of rents these units could be expected to yield.

The duplex is making a return as an option for first-time buyers who are unable to stretch to a three-bed semi-detached unit, but want something more than an apartment.

"Assuming that it's well-designed, and assuming that you're still getting a good hierarchy of bedrooms - so a good master bedroom - and little things like the ability to entertain guests and have a proper dining space are important," explains Ryan of the qualities buyers look for in a duplex. "You will generally find it is people who are first-time buyers. The price isn't always hugely different between a duplex and an apartment, so you're usually getting more floor space, more area, but over two storeys. If they can't get a three-bed semi-detached, the choice then is a nice two-bedroom apartment, or sometimes the price wouldn't be that different between a two-bed apartment and a three-bed duplex."

Viewing: Today, 1-3pm

Agent Savills (01) 618 1300

Sunday Independent

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