Who bought and sold

The Irish Times - Thursday - Property - - Front Page -

Tele­phone sum sales of lux­ury res­i­den­tial homes were few and far be­tween this year and an ar­ray of prop­er­ties on the top shelf still await buy­ers. The big­gest res­i­den­tial trans­ac­tion in the cap­i­tal only closed in re­cent weeks: the ¤8.1 mil­lion sale of Clon­more on Shrews­bury Road to for­mer Icon boss Ciarán Mur­ray. The 528sq m (5,683sq ft) for­mer home of de­vel­oper Paddy Kelly was placed on the mar­ket by re­ceivers in Septem­ber seek­ing ¤10 mil­lion with agent David Bew­ley of Lis­ney.

Mur­ray re­tains other prop­er­ties on Mer­rion and Ailes­bury Roads and with this ac­qui­si­tion has cre­ated some­thing of a golden tri­an­gle in Dublin 4’s premium prop­erty hotspot. A colos­sal re­furb is likely to fol­low.

Next up was the pur­chase of Lota, at 26 Coliemore Road in Dalkey, for ¤7.5 mil­lion by Kingspan boss Gene Murtagh. It came as some­thing of a sur­prise be­cause the lux­ury seafront prop­erty on half an acre had not been placed on the open mar­ket. The ven­dor was de­vel­oper Fran­cis Rhati­gan who had bought Lota at auc­tion in 2002 for ¤4.5 mil­lion. The off-mar­ket deal took place over the sum­mer through Sherry FitzGer­ald’s Si­mon En­sor. The pur­chase is a de­par­ture for the Kingspan boss who un­til now has lived close to the multi­na­tional’s head­quar­ters in Kingscourt, Co Ca­van. It’s be­lieved Murtagh was the first and only viewer of Lota.

The third big­gest sale of the year was that of Ard­more at 34 Ailes­bury Road in Dublin 4. The semi-de­tached six-bed on 0.4 of an acre sold through Sherry FitzGer­ald for ¤4.875 mil­lion. The orig­i­nal ask­ing price was ¤5 mil­lion. The undis­closed buyer is likely to up­date the prop­erty and may well take a leaf from the book of neigh­bour Shane Ryan. The son of the late Ryanair founder Tony Ryan bought the for­mer French con­sulate next door for about ¤4 mil­lion in 2013 and pro­ceeded with a re­fur­bish­ment that in­cluded a swim­ming pool and a five-car garage on its acre of grounds.

In May, 41 Cow­per Road in Rath­mines sold for ¤4.7 mil­lion, with the buy­ers un­der­stood to be Diar­muid and Yana McKil­lop. The de­tached dou­ble-fronted Vic­to­rian with 380sq m(4,088sq ft) and five bed­rooms, orig­i­nally sought ¤4.9 mil­lion when it launched to mar­ket in May 2017, through Sherry FitzGer­ald sell­ing agent Ger­a­lyn Byrne.

An­other ma­jor off-mar­ket sale took place in April when 81 Park Av­enue, one of Sandy­mount’s finest prop­er­ties, sold qui­etly for ¤4.5 mil­lion. The smart Ed­war­dian on 0.7 of an acre, pre­vi­ously owned by the late sen­a­tor Eoin Ryan and ac­quired in 2004 by busi­ness­man John Pugh for ¤7.1 mil­lion, was placed on the mar­ket through Lis­ney in July 2017 seek­ing ¤4.6m. It was sub­se­quently taken off the mar­ket and rapidly sold by the re­ceiver. The buyer is un­der­stood to be so­lic­i­tor Joseph Stan­ley, brother of de­vel­op­ers Michael and Kevin Stan­ley of Cairn Homes.

To put the mar­ket at the up­per end in Dublin in con­text, this year’s top sale Clon­more for ¤8.1 mil­lion would only have made fourth po­si­tion in the rank­ing last year. Sim­i­larly, it’s worth not­ing that the top open-mar­ket sales gen­er­ally came in be­low their orig­i­nal ask­ing prices, re­flect­ing a down­ward cor­rec­tion in pric­ing.

Worth men­tion­ing in this con­text were two other sales around the ¤4mil­lion mark.

In Dalkey, num­ber 1 Coliemore Vil­las, an end-of-ter­race of just four early Vic­to­ri­ans over­look­ing the sea, qui­etly sold for ¤4.2 mil­lion early in the year. It was pur­chased in 2015 by an Aus­tralian cou­ple, Karen and War­wick White, for ¤2.35 mil­lion.

A lav­ish re­fur­bish­ment fol­lowed, at an es­ti­mated cost of ¤1.2 mil­lion. The buyer is be­lieved to be one of the co-founders of La Rousse foods, which sold to Aryzta in 2015 in a mul­ti­mil­lion euro deal.

An­other quiet sale took place in Rath­mines when 2 Tem­ple Gar­dens, owned by Patrick Roe, popped up on the Res­i­den­tial Prop­erty Price Reg­is­ter in Septem­ber af­ter sell­ing for ¤4.1 mil­lion in an off-mar­ket deal. Ger­a­lyn Byrne who bro­kered the deal de­clined to com­ment on the sale.

On the apart­ment front, a cou­ple of jaw­drop­ping sales ap­peared on the price reg­is­ter mid-sum­mer when joint own­ers of the ex­clu­sive Mer­rion Ho­tel, Lochlann Quinn and Martin Naughton, pur­chased the top two floors of the ho­tel’s lat­est ac­com­mo­da­tion wing for ¤4.1 mil­lion and ¤7.1 mil­lion re­spec­tively in a

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