5 Ashurst (Ash Hurst), Military Road, Killiney, Co Dublin
For Sale - 5 Bed Site 240 m² / 2583 ft² 1.45m
When I looked at this first, I felt for the buyers of 8 Ashurst (or Ash Hurst) across the road in mid 2014.
8 Ashurst was bought for 1.5m at mid 2014, on 0.30 acre + 3,101 sq ft. (nice house but not brand new by any means). It implied c 3m per acre valuation (600k house + 900k land). This would rank with the implied site valuations of nearby Dorset Lodge and Galleen (but they were on premier standalone sites off Killiney Hill Road). Certainly a step-up from the benchmark sale of the derelict Dromeen site in nearby Kilmore Avenue in end 2013 (600k for 0.33 acre, or almost 2m an acre in valuation terms).
The desirable (and expensive) part of Killiney (south from Killiney Village along Killiney Hill Road to Military Road) is full of period houses of a wide variety and types (i.e. mansions, arts & crafts etc.). A major drawback here is that the Killiney planners have been very hardcore about what people can and can’t do with these houses - particularly in terms of adding modern extensions and opening up back walls to create the large modern kitchen extensions (just ask the Edge of U2 who lives in the impressive Fortlands compound). Owners in Ailesbury Road get permission to do a lot more behind the well preserved façade, where as in the best parts of Killiney, the structure must be fully preserved (i.e. there are few modern blow-out kitchen extensions). I think this is why the small Ashurst (or Ash Hurst) estate has often attracted high valuations - owners can build proper modern houses, still get some of the views, and still be in the best parts of Killiney. You can buy c 1 acre sites on the Glenalua Road / Church Road for c 1m, but not in the Ashurst estate.
8 Ashurst, Military Road, Killiney.
Date of Sale: 07/10/2014
5 Ashurst is now for sale 12 mths later for 1.5m for 0.65 acres (0.26577 ha) + 2,583 sq ft. house ? House is not great so it is really a site sale.
5 Ashurst comes with planning permission to build two houses on the site (giving two south facing 0.30 acre plots) for 750k each. Equates to 2.3m per acre for an ‘estate’ location off Military Road. Rational asking vs. Dorset Lodge and Galleen pricing than 8 Ashurst in my view, and still a step-up from the standalone site benchmark of Dromeen on Kilmore Avenue. However we will see what 5 Ashurst eventually goes for.
Dromeen set a benchmark for standalone good quality sites in Killiney of c. 2m an acre in 2013.
See thread thepropertypin.com/viewtopic.php?f=10&t=52354&p=831028&hilit=dromeen#p831028
This has been surpassed by the sales in the Ashurst Estate to over 2m an acre.
The best quality houses off Killiney Hill Road are implying land values of c 3m an acre (Dorset Lodge, Galleen, Percy Lodge etc.)