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Dragon's Den star's luxurious D4 home still for sale ... a year after it went on the market

THE €14m Shrewsbury Road home of Dragon's Den entrepreneur Niall O'Farrell remains unsold -- almost a year after it went on the market.

The plush home sits right next door to developer Sean Dunne's pad, Ouragh, which is now set to be rented out by the South African embassy because it has not sold, it is understood.

The fall of Shrewsbury Road is under way as homes on the street, which was once hailed as one of the world's most expensive, plummet in value and fail to attract buyers.

O'Farrell's house, Thorndene, has had around two dozen viewings since it went on the market, but no takers, according to estate agent Peter Kenny from Colliers International.

"There have been various approaches but nothing has gone to contract. I've another interested party who I'm waiting on at the moment.

"Only a select few would want to look at it, and could afford to have a look at it"

Thorndene, a Victorian-style, seven-bed house on half an acre of landscaped gardens, comes with its own pool, steam room and sauna, and home cinema.



Sell

But its failure to whet the appetites of buyers further signals the difficulty to sell on Ireland's property market despite plummeting house prices.

The estate agent would not give any indication of the expected selling price, or any reasonable offers which would be accepted by Mr O'Farrell.

"Like everything else on the market, we're open to offers. If someone comes in with a solid offer, we'll go back to the owner."

But he stressed that the entrepreneur is not planning to follow in the footsteps of Sean Dunne and rent out the property.

"He'd prefer to sell it. It's a very large house, almost 10,000 square feet, with amazing reception rooms and a Jacuzzi and cinema."

Shrewsbury Road is quite a short street with only 23 numbered properties.

Residents include multimillionaires such as barrister Dermot Gleeson, solicitor Stephen MacKenzie, cinema owner Paul Anderson as well as the Belgian and Finnish embassies.

Millionaire Derek Quinlan recently swapped his Shrewsbury Road home in Dublin 4 for Switzerland after the collapse of the property market here in 2009.



Fall

Home prices on Dublin's Shrewsbury road have long been tipped to fall more than anywhere else in the country.

Its properties that were worth €30m in 2006 are now valued between €8m and €12m.

One house on Shrewsbury Road, Walford, sold for €56m through Sherry FitzGerald in 2005 at the height of the boom, representing €13,750 per square foot.


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