4 Prince Edward Terrace, auction today

property.ie/property-for-sal … in/473401/

Will be interesting to see how this one goes, auctions at 2:30.
Agent says 40 copies of title went out to potential buyers. I looked at it and there was hurdle after hurdle for buyers. Sitting tenants, possible adverse possession, roof coming in, broken windows…garden is like the amazon jungle etc…etc

People are living in that wreck? Is that safe? :open_mouth:

4500 sq ft.
Thats huge !
€800,000 is only €178 per sq ft, so even with all the problems you outlined above, it should go for a lot more.

Incidentially, 40 title copies is irrelevant.
Whats much more relevant is how many potential buyers carried out surveys.

not safe but there are plenty of kips in Dublin with old people living in them

eh…you couldn’t survey it fully because the basement tenant denied access. No one has seen the basement! This is a bizarre story

No one has seen the basement AND LIVED TO TELL THE TALE!!!

Mwaaaahaaahaaahaahaaahaaahaaa!!!

https://www.amoeba.com/dynamic-images/blog/Brad/halloween3.jpeg

colliersjs.com/files/4LowerPrinceEdward.pdf

“The garden apartment is held under a lease dated 6th April 1983 at rent of €41.71 per week.”

For that rent I’d nearly live in a leaky basement apartment myself.

sold for 785k, 25 people in the room, about 6-7 bidders

You should have got in there Mr. A! :smiling_imp:

hmmmm, I guess they’re hoping for LTEV. 4 Bed Houses in the area range in price but a few are 900k+

daft.ie/maps/index.daft

So effectively the buyer is buying the above basement stories?

I have to admit, I’m quite surprised by the price - €174 per sq/ft.
Even with the basement out of bounds and the necessary work, this is fairly cheap (for this locaton).
Sounds to me like the owners are going to do a complete gut job.

Anyone know the legality around eviction of a sitting tenant, if the new owners intent is to make it their PPR ?

No.
The buyer is buying the whole house but, for the time being, only has use of the above basement.
(I think).

citizensinformation.ie/categ … u-to-leave

Assuming the tenancy is a part rent-controlled “life” tenancy they can now be evicted according to an old poster who’s also an EA.

viewtopic.php?f=4&t=4694

You can not evict this tenant, they are there since the 80’s. You would need to compensate him to move out. That could be substantial

If 174e p sq ft then 33% more expensive than this

viewtopic.php?f=21&t=25645

I wish id bought it

Apparently the law on this changed in 2004 and came/comes into effect this year. This is really not well known and was sort of buried in the legislation so the people affected would not notice and try to stop it.

Please explain. Does anything in the Act affect squatter’s rights? is anything retrospective?

The rent control acts were brought in WWI to protect Tenants from speculative rises in rent while the troops were off been slaughtered. Wars do create inflationary tenancies. They were only meant to be temporary, and it froze rents at 1916 levels. These tenancies could be passed down the family with no restriction. In the fine tradition of the Irish Legislature nothing happened and the acts remained in force. In the early 1980s you had a bizarre situation of some quite wealthy Tenants living in Ballsbridge paying peppercorn rents, while the land lord was burdened with the upkeep of the property. In on e case the little old lady who owned the house was living in the garage while the Barrister tenant paid 3 quid a week. A guy called Madigan took a case to the Supreme Court where the acts were stuck down as unconstitutional, infringing the right to private property. The Oireachtas passed a new rent control act, which was also found to be unconstitutional, and the Supreme Court, unusually, in its judgement, indicated what it would find acceptable. This led to the passing of the 1980 Act. This granted to existing tenants a life tenancy which could not be passed down, and a mechanism to review rents (but still at a ridiculous level). I believe there are mechanisms to end such tenancies but very difficult to do in practice, and some compensation is payable. New life tenancies can be created if a tenant is in a property for 21 years or more. The 21 year rule led to Irish Life selling off the Mespil estate shortly before the 21 years, as a state company it didn’t fancy evicting the many tenants who were about the get life tenancies. The new landlords (including many TDs) had no such problems. There are not many such tenancies left as the passage of time has dealt with most. These tenancies are commonly called sitting tenancies, and having nothing to do with squatter’s rights.