51 Wellington Road, Dublin 4 - What's the Story?

The Sunday Times (page 6 of the News section) has a short, somewhat mysterious article on the sale on 51 Wellington Road D4 myhome.ie/residential/brochure/51-wellington-road-ballsbridge-dublin-4/1872668, stating that it is part of a substantial property portfolio of a wealthy lawyer. Is the rest of this property portfolio up for sale? Kind of a curious piece of reporting which does not give a lot of detail.

The owner of the property is one if not the highest paid lawyer in Irish tribunal history,Jerry Healy who was paid €9.5mill for his work on the Moriarty Tribunal.

He and his wife bought the property in in 2004 for €4.1mill and is one of seven registered in their names including a second house on that same road and Ballybrittan Castle in downtown Edenderry Co Offaly.

Other property interests include a House in Temple Gardens in Rathmines,an apartment on Lower Mount St and a House in Blackpool in Cork.

This was in yesterdays Sunday Times and I don’t have a link as I don’t subscribe online.

Ouch. Can’t see anyone paying close to €1000 a square foot for any house these days, trophy or not, so I think he’ll be saying goodbye to a big chunk of those tribunal earnings.

Just doing some quick sums – euro 4.1 million for 51 Wellington Road, another house on Wellington Road, another on Waterloo Road, another on Temple Gardens, if those are four “trophy” houses purchased at near-peak prices, plus three other properties, just the capital losses so far could possibly generate negative equity greater than euro 10 million. Supposedly there are many businessman/developers with residential property portfolios in D4/D6 in similar situations. Perhaps the frozen-solid inner Dublin +3,000 sq ft market could start to open again more actively? Who knows.

Very little available at top end of market fully renovated.

Renovation costs would be €250 to €300 per square foot.

As such €838 per foot looks reasonable.

I have to say that €3.25m is a bit ambitious. They bought it in 2004, which wasn’t that far off the height, just a year before some of the most outrageous purchases such as Walford. They paid €4.1m, but the property had already undergone a really extensive year long renovation before they bought it, so they probably haven’t touched it. That means that you’re getting an 800k discount off what they put into it, doesn’t seem like a great deal to me. That said, I love Wellington Road and the house is beautifully done so maybe they might get lucky.



There is plenty of supply at the high-end - over 1.5 million. These houses are not shifting as quickly or at all as those priced up to 1.5 million. This may be a ceiling in the current short-term D4/D6 rally.

Have been out bid 4 times in the last 3 months :frowning:

Can not see anyone paying over 3 million for a 4 story terraced house thesedays, despite what condition the inside is in. Maybe he would have a chance of getting 3million for his house on temple gardens if its one of the double fronted detaced ones but its prob his PPR?

That house is pretty narrow and dark looking for that money.

I mean if you are going to spend 3m +, you would want to get a gaff without those sort of basic limitations. There are some smashing houses around Orwell Rd, etc for similar money.

But not walking distance to town.

The big advantage of Wellington road is convenience to town and Herbert Park.

Adams next auction includes some nice watches. Perhaps I might see you there :slight_smile:

I hear on the grapevvine that this one is close to being sold.

51 Wellington Road , Ballsbridge, Dublin 4 Sold
5 Bed Terraced House 360 m² / 3875 ft²

epic process - final conclusion.

full price however house was in good condition (full re-fit).

12/11/2013 €2,850,000.00 51 WELLINGTON RD, BALLSBRIDGE, DUBLIN 4

A much smaller and not in as good condition

5 Wellington road sold for €2,300k on 11-12-13

Just from looking at google maps, it seems like 5 Wellington Rd has the full back garden to Heytesbury Ln. If so, may explain the relatively elevated price.