7 Henrietta Street, Dublin 1 (-2.3m, -65.7%)

Was 3,500,000

link

Now 2,900,000

www5.daft.ie/searchsale.daft?id=280077

Now that is one hell of a project.

Now 1,850,000

It would make a stunning property if fully restored to its former glory. At least you’re getting something with some architectural merit for your 1.85m, something that cannot be said for the vast majority of 1m+ houses in Dublin. Hopefully the perpetually postponed renovation of Henrietta St won’t be shelved during the downturn.

It’s a pity it couldn’t continue to be used as artist studios.

The location is a bit of a pity. One of the things that irritates me about Dublin is that the commercial lay out of the city is a bit messed up. That building is in a location that’s very close to the commercial heart of the north inner city but it still looks a bit off the beaten track.

There are so many things you could do with that building. I wouldn’t mind having a look inside it but sicne I don’t have access to the funds…it wouldn’t have any practical effect afterwards.

Anyone have any idea how much it’d cost to do up? It’d be quite the stunner.

The Daft ad says:

  • The street is zoned as a Conservation area
  • All of the houses on the street are on the Record of Protected Structures

So I’d say it’d probably cost a fortune to do it up…

I think you are right, this is a project not for the idle rich but the filthy rich, so if you are worth less than 50 mill Id forget it as it would eat into your wealth like a drug habit to a junkie. EVerything that would have to be done to this property would have to be vetted and passed before moving on to the next job the term expensive is not expressive enough for this type of endeavour.

So for 4.7 ish million the buyer would eventually end up with a trophy house (no parking!) in one of the grottier areas of Dublin? Can’t see it happening. Henrietta Street (and the magnificent buildings of the Inns / Registry of Deeds) are completely incongruous with what the surrounding area has become.

Love these old houses. Pity time and the area has passed them by. This street used to be home to the richest and most powerful people in Dublin now most of the houses are too run down and constrained by planning restrictions to be used as the slums they were up to 50 years ago.

Henrietta Street is one of the oldest Georgian streets in the city and I have a vague suspicion that the whole street is covered by planning restrictions and may have some level of preservation order applied which would limit the scope of work and nature of materials that could be used.

The Georgian heritage north of the river is in a pretty poor state. The areas extending north from the top of Capel Street around Henrietta Street, Blessington Street, Mountjoy Square and Gardner Street could really have done with better care. The fall from grace of, what in their day were some of the most “aspirational and desirable” areas of later 1700’s Dublin into tenements in the 1800’s, that lasted up to the 1970’s, stands as a stark reminder of one of the first property busts experienced here, which kicked off after 1801.

Blue Horseshoe

It’s actually the oldest Georgian street. Having twice restored simliar (though nowhere near as grand) houses in the area I have a good knowledge of the financial, legal and technical requirements of undertaking this project. The council’s heritage department don’t make it easy with building guidelines that verge on the ridiculous. Only certain types of wood are allowed in the sash windows which must be single glazed (I ignored that.) You must use horsehair plaster on the walls. The mortar in the repointing must be of a specific type to include the exact percentages of lime etc.
That there are grants available of up to 50% only gives the ‘craftsmen’ scope to increase their prices by that amount in a similiar manner to the old first time buyers grant pushing up the price of new homes.
A fair price here would be 200-300k to someone wanting to turn it into a home. To an institution of some kind I would suggest 0 with a guarantee to spend x amount restoring it.

2 and 1/4 years on and still at €1.85 million.
At this stage if you completely renovated and then transported this grand old lady to Rathgar you still wouldn’t have a chance of making that price.

I have a lot of childhood memories of this building. The smell of decay, big heavy creaking doors and buddleia growing from the garden walls. I bet it hasn’t changed a bit.

in general tax breaks for property in this country have been a waste; the classic economic deadweight loss;

I can’t help thinking that here at least a break would spur economic activity that genuinely wouldn’t take place otherwise - I’m talking here about refunds on VAT and other taxes labour etc rather than more corrupt-ible handouts.

Chances of this happening - zero

An interesting post on Archiseek about Henrietta Street.

1.2m
daft.ie/searchsale.daft?id=280077