Eirene, Marino Avenue East, Killiney (-4.65m, -77.5%)


#1

Was 6,000,000

link
ireland.com/newspaper/proper … 14365.html

Now 5,250,000

www5.daft.ie/searchsale.daft?id=357621


#2

Now 4.15m. A considerable drop in 3 months since it was featured in the IT.

daft.ie/1357621


#3

Shave another 50 grand off

Now 4,100,000

www5.daft.ie/searchsale.daft?id=357621


#4

325 Sq. Metres (3,497 Sq. Feet) @ €4.1m

€12,615 per sq m

or

€1,172 per sq ft

I love this place, particularly the exterior. But the price is ludicrous.


#5

Now 3.95 million

www5.daft.ie/searchsale.daft?id=357621


#6

#7

this exact house Mentioned in Derek Brawn’s book as one of the poster children for price drops.


#8

Now listed at
daft.ie/searchsale.daft?id=472394

(change of EA? Now with Savills anyway…)


#9

Now 2.9m
daft.ie/searchsale.daft?id=482777


#10

Now 2.75mil

myhome.ie/residential/brochu … lin/414909


#11

1.75m

daft.ie/searchsale.daft?id=562382


#12

The ad show two pictures clearly taken in the 70s!

You can see the old cars as well as the old footbridge over the trainline.


#13

This place gives me the spooks - it has that horror film type setting and decor to it!

Certainly wouldn’t be caught in the shower :frowning:


#14

This is a fab house in a great location (right beside the beach and Killiney dart) but it needs a massive amount of work - I pass by pretty regularly and it’s been unoccupied for a couple of years at least and is now in a lot worse condition than shown in those photos. Plus it’s in an architectural conservation area so you’d be restricted in what you could do to it (externally anyway). One for someone with extremely deep pockets I think …


#15

This appears to have changed hands.

Daft.ie link removed a few weeks ago


#16

I would have thought it was more likely to have been withdrawn rather than changed hands, if the link on Daft was removed without a ‘Sale Agreed’ period.


#17

Sold 1.35M as per register


#18

The new owners have moved in after a substantial refurbishment. The house looks great now!


#19

A true poster-child of the Dublin housing collapse. The sellers (for some mad reason) kept this house on the Irish Times property pages for years, right through the crisis, dropping the prices in multiple slices. Even people outside of Dublin, were aware of the plight of this very distinctive “arts & crafts” type house with its bright blue wooden colouring.
https://cdn4.independent.ie/migration_catalog/article25082109.ece/b45be/ALTERNATES/h342/house_sindo
independent.ie/business/personal-finance/property-mortgages/price-of-seaside-home-plunges-by-2m-26531548.html

Finally bought by Kathryn & Nicholas Hill for 1.35m who have done a very good restoration job (latest planning D15A/0341 May 2015). The house (which is a protected structure) is now over 5,100 sq ft. on a 1.2 acre (0.5 ha) site (was 3,250 sq ft.)

Ultimately, they bought at just over 1m an acre with a run down protected structure on it for free (such a structure can be a blessing or not, depending on your tastes, and the specific restrictions of the DLR planners - the Hill’s have registered 7 main planning applications since their purchase to get Eirene to its current state - yikes!).

Interesting to compare Eirene with other benchmark Killiney houses bought in that area in 2012/2013.

Eirene @ 1.35m = 23% of 2007 asking of 6m (asking was high, facing DART is an issue here).

Fernside @ 2.075m = 28% of 2007 asking of 7.5m (asking right vs. neighbouring Cliff House earlier sale price).
thepropertypin.com/viewtopic.php?f=23&t=17183&p=832031&hilit=fernside#p832031

Dromeen @ 600k = 32% of Mar 2005 sale price of 1.9m (peak would have been c. 2.2m or 6.5m an acre, giving 27%).
thepropertypin.com/viewtopic.php?f=10&t=52354&p=831028&hilit=dromeen#p831028

Buena Vista @ 1.1m = 22% of Mid 2004 sale price of 5m (peak would have been c. 6.5m, giving 17%).
thepropertypin.com/viewtopic.php?f=10&t=59203&p=831214&hilit=buena+vista#p831214

Paddock Wood @ 4m 33% of peak valuation of 12m (take off the 1m of remedial costs and the net price was 25% of peak).
thepropertypin.com/viewtopic.php?f=10&t=60830&p=831479&hilit=paddock+wood#p831479

Cloneevin @ 42.9m 29% of peak valuation of 10m (well renovated and would have been asking 10m at peak).
thepropertypin.com/viewtopic.php?f=10&t=45484

Ashurst @ 4.1m @ 20-25% of peak (I really have no idea what it would have been worth at peak, could have been 15 to 20m).
thepropertypin.com/viewtopic.php?f=26&t=16521

These metrics are similar to benchmark +2m houses on the best roads in D4 & D6 fell to in 2012, about c. 25% of peak value.

As great a deal as seen in Killiney (I hope the new owners use their winnings to get rid of that awful bright blue colour !)
(Please God the DLR planners have not fallen in love with the colour ?!?!?)


#20

Saw the finished product last year and wouldn’t hesitate to say that it is truly out of this world - one of the best renovations done in post-recession Dublin. The house looks incredible and the modern extension really ties in well with the original house (with all the wood now green in colour rather than blue). The house still looks exactly the same, with just a new colour palette, and modern extension jutting out the side - which is great as the house itself has remained intact and the modern extension can be easily removed by future owners in decades to come when tastes change, while some pastiche extensions can materially alter the house and make it difficult to reverse. Interior is top notch also.

Definitely one of the best houses in the area in terms of house, setting, views and gardens - might do a blog post at some stage on it with images of the renovation.