Drug lord’s for­mer Kerry es­cape to auc­tion

The Irish Times - Thursday - Property - - The Market -

The up­com­ing BidX1 (for­merly All­sop) auc­tions due to take place on Septem­ber 27th and 28th fea­ture prop­er­ties to suit all bud­gets across the coun­try. One of the most ex­pen­sive lots, Glash­nacree House in Der­ryquin, Sneem, Co Kerry, is an idyl­lic cut-stone man­sion that was re­pos­sessed by the Crim­i­nal As­sets Bu­reau (CAB) from Dutch drug lord Jan Hen­drik Ijpelaar in 2000.

The six-bed house is of­fered for auc­tion guid­ing ¤1.4 mil­lion and comes with tennis court, heated 40ft swim­ming pool, two guest lodges and 20 acres of grounds.

The prop­erty’s un­for­tu­nate past did not cease in 2000, as it seems that Cork-based prop­erty devel­oper Sean Wyse, who ac­quired it from CAB for around ¤1.27 mil­lion, had his loans sold by Ul­ster Bank to Cerberus.

A re­ceiver was ap­pointed this year and they are now dis­pos­ing of the prop­erty.

And there’s no short­age of other choice res­i­den­tial prop­er­ties un­der the ham­mer at the auc­tion. Num­ber 69 Palmer­ston Road in Rath­mines is one of

Glash­nacree House in Der­ryquin, Sneem, Co Kerry, was re­pos­sessed by the Crim­i­nal As­sets Bu­reau from Dutch drug lord Jan Hen­drik Ijpelaar in 2000 the auc­tion’s high­lights. The house was pur­chased in 2006 for about ¤3.3 mil­lion by devel­oper John Mor­ris­sey, who lives across the street.

The house is in a state of se­ri­ous dis­re­pair, and po­ten­tial pur­chasers are un­likely to re­tain any­thing but the three exterior walls (or what’s left of them).

With a guide price of just ¤950,000-plus, the sub­stan­tial 262sq m (2,826sq ft) house is likely to ap­peal to a large num­ber of well-heeled pur­chasers who want a blank can­vas.

For those with­out a taste for ren­o­va­tions, there is an im­mac­u­lately pre­sented town­house at 10 Ed­ward Square in Don­ny­brook, guid­ing ¤2.1 mil­lion-plus. The 400sq m (4,305sq ft) house is ar­ranged over five lev­els and was pre­vi­ously for sale by pri­vate treaty for ¤2.5 mil­lion, and comes with an el­e­va­tor and a 70ft rear gar­den.

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