Shadow Glen, 3 Back Road, Malahide (-200k, -5.26%)

myhome.ie/residential/brochu … de/3365203

6th October price from 3.8m ----> 3.6m

interesting that Cauldwell Bankers are the brokers.

Shadow Glen, 3 Back Road, Malahide
€3,600,000 - 6 Bed Detached House 622.45 m² / 6700 ft² For Sale (2.75 acres)

Irish Times:
irishtimes.com/life-and-style/homes-and-property/new-to-market/hotel-style-in-malahide-for-3-8m-1.2200599

3.6m for a house would be a massive ask given:

  1. On an estate.
  2. On the north side.
  3. Cheap build construction (c. 150 sq ft size over quality).

The interesting angle is the land at 2.7 acres. If this was on 0.5 acres, we would be taking Abington guides and this would be c. 2m. The extra 2 acres however does change things. Question is whether you really own these acres, and if so, can you re-develop into denser housing. If so, that would make this more interesting. My guess is that the price is 1m per acre + cost of build

Speaking of Shadow Glen, the owner made a feature in the Irish Times last week:
“Judge rules AIB may reclaim €7m debt from businessman”
irishtimes.com/business/comm … -1.2395106

This ties in with what has been discussed on another thread about Malahide high end houses:
viewtopic.php?f=10&t=64513

Basically, it is likely that this and many of the others on the market in Malahide are bank-forced or bank-encouraged.

Previously of BNP Paribus?