Thursday 19 September 2019

This building has rare opportunity for luxury A-rated apartment inside


Neptun House in Blackrock, where four extra-large apartments launched this week
Neptun House in Blackrock, where four extra-large apartments launched this week

Liadan Hynes

The trade-down buyer is one of the most important in the new apartments market, and this week sees the launch of two new developments that will appeal to this under-supplied market segment. In suburban new apartment developments, the downsizer can make up to two thirds of purchasers.

Down-sizers typically have a shopping list of specific requirements with location at the top. They prefer to buy in the traditional, leafy suburbs in which they have lived for decades; they tend to prioritise space, generous storage, and the energy efficiency of new builds.

Good transport links and proximity to amenities such as hospitals, shops and restaurants to future proof against decreased mobility are important too. Home security and low maintenance of any outdoor areas are also big pluses for these buyers as they tend to travel for large parts of the year.

And yet there continues to be a severe shortage of apartment stock. Economist and Sunday Independent columnist Ronan Lyons pointed out recently that the housing crisis is due to a shortage of apartments, rather than of houses. In a typical European country, he believes, apartments would make up 30-50pc of housing, while in Ireland they represent 10pc.

There iare approximately 500,000 fewer apartments than our population requires, says Lyons. Prohibitive building costs are an issue, as is the lack of tax incentives that might attract investors to the market.

The apartments at Neptune House, which launched this week, provide a rare opportunity to live in a large, luxury, modern, A-rated apartment within a protected structure.

Both launches this week are apartment blocks in developments with house units that launched previously, and are now virtually sold out. The 13 brand-new houses at Neptune House launched earlier this year to strong interest, now four extra-large apartments in the 250-year-old Georgian villa have come to the market.

After a careful restoration process, these units, which measure from 169-234sqm, retain many original features, including high ceilings throughout, original stained glass, sash windows (now double-glazed), original fireplaces where possible, and ornate plasterwork.

Situated between the villages of Blackrock and Monkstown, this property has been through a number of incarnations. Originally the home of the Earl of Clonmell, in 1916 it provided accommodation to British troops brought in to defeat the rebels in the GPO.

Modern features now added include gas-fired central heating, high levels of insulation, fitted kitchens and fitted wardrobes. En suites include large walk-in pressurised monsoon showers.

Also on the southside, Ardilea is just the sort of leafy suburban location that will appeal to the trade-down buyer. There are 48 apartments on this five-acre site, which includes a playground.

Minutes from UCD's Belfield campus, O'Malley Construction is launching a mixture of two-bedroom units 87-89sqm, from €495,000, and three-bed penthouses, 115-118 sqm, from €765,000.

All units, which enjoy BER ratings of between A2-A3, include utility rooms, Neff appliances and washer/dryers, floor and wall tiles as standard. There are storage spaces in every unit, as well as either a balcony or terrace space. All apartments have underfloor heating, meaning no radiators taking up wall space.

What: Nepture House, Temple Crescent, Blackrock, Co Dublin

Agent: Sherry FitzGerald New Homes (01) 667 1888

What: Ardilea Crescent, Heidelberg, Clonskeagh, Dublin 14

Viewing: Today, 11am-12.30pm

Agent: Hooke and MacDonald

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