How is this possible? - 11 Capel St … -1/1360410

If I remember correctly the asking was €300,000 or €350,000. … enDocument

Sold for €88,500 about 20 months ago.

Unbelievable value considering that it looks to be a very nice building (obviously with some work to be done) and other sales in the area are more expensive for much less. How is this possible?

It may not be the final price.
The PPR isn’t always correct.

just one of the apartments? The commercial wouldn’t be on the PPR?

No - according to PPR “Not Full Market Price: No” i.e. the price shown (€88,500) is the full market price paid.

Possibly. If it was sold as a commercial though then how long would it take to renovate into apartments, get planning to do so (have designation changed etc.) and then sell one or more of those apartments? The entire building was listed for sale some time in 2011/12 as far as I remember. PPR date is 26/04/2012, so everything done and dusted by then. As I said in OP the asking was either €300,000 or €350,000. If you check the PPR you will see that there is only one listing of a sale for no. 11 Capel St. I’m not convinced it was sold as a commercial even though listing was as a commercial. Could well be wrong on that point.

Very nice light filled building in central Dublin. Mainly I’m just jealous of whoever bought it! On a serious point though if a building is sold in a “wink wink” deal below market value is it legal? Are there potential tax evasion issues? And is this policed at all?

For the record I’m not suggesting in any way that there is something untoward about the sale of no. 11 Capel St.