WIW Ischia (Kilross Lodge), Sorrento Road, Dalkey, Dublin

Ischia (formally Kilross Cottage), Sorrento Road, Dalkey, Co. Dublin
€4,000,000 - 5 Bed Detached House 464.5 m² / 5000 ft² (0.40 Acres) For Sale
myhome.ie/residential/brochure/ischia-sorrento-road-dalkey-co-dublin/2946500
https://cdn1.independent.ie/incoming/article30632166.ece/c3062/ALTERNATES/w620/eddie5.jpg

Eddie Irvine’s Dalkey crash-pad returns again (formally Kilross Cottage in DLR planning, or Kilross Lodge in other articles)

  1. Profiled in the Irish Times in Oct 2014 (with its colourful history) - actually one of the most critical IT reviews I have read?
    irishtimes.com/life-and-style/homes-and-property/new-to-market/another-lap-for-eddie-irvine-s-4m-playhouse-1.1947783

  2. Also featured in Dublin Great Estates (although not necessarily for its greatness?)
    dublinestates.blogspot.ie/2012/02/kilross-cottage-monte-alverno-sorrento.html

Asking 4m for a 13 year old house, with a quirky modern design, on 0.40 of an acre, with no real garden, and almost no sea view (outside of the turret) is a very big ask. Land in Dalkey / Killiney is going for c. 3m an acre for the best plots (less for others). At minimum, this would imply a top valuation of +2.5m for Ischia (for the buyer who would value such a design).

I like modern houses, but I don’t think Ischia would win any design awards or appear in any books. It is more at the crass end of modern houses - features and structures with no purpose etc. and a patchwork of materials and designs. I would much more value nearby Martha’s Vineyard (without the leaks), or some of the other more coherent modern builds in Dalkey / Killiney.

Nearby, Nerano House has 4x the plot size, with full sea views (even from ground floor), and a period house (albeit which did need renovation) recently went for 3.3m (after failing at auction and only one real bidder chasing).

The Irish Times article that Ischia - supposedly - was going for 5m would in itself benchmark it (nothwithstanding a new low in IT ‘bubble script’ which is now quoting ancient phantom bids to justify prices). Most houses in Dalkey / Killiney that would have been valued at 5m in the tiger era, would never dream of breaking even 3m today (and even 2m in many cases).

Perhaps the reason why the Irish Times article was more objective in its analysis of Ischia (vs. usual ‘bubble script’), it that the local EA themselves realise that the 4m asking is so crazy and would like to hurry the process along to where Mr Irvine eventually agrees to a more realistic asking price of 2.5m - 2.7m - at which price it will still take a specific buyer to shift

Looks like Marthas Vineyard did sell finally (had been off-market for a while) for 2.334m

Address Information:
Marthas Vineyard
Coliemore Road
Dalkey
Dublin
Sale Information
Date of Sale:26/11/2015
Price: €2,334,605.00
Not Full Market Price:No
VAT Exclusive:No
Description of Property:Second-Hand Dwelling house /Apartment

Better house than Ischia (not just aesthetically, but also in views and positioning).
dailyedge.ie/rent-director-jim-sheridans-house-for-e7000-a-month-279029-Nov2011/#slide-slideshow9

https://cdn-03.independent.ie/migration_catalog/article25025625.ece/793a9/ALTERNATES/h342/box1

They had to wait selling it until the well known leaks were fixed (which now are).

I see also Ischia is now up for rent (again) on daft.

The comedy (i.e. delusion) of Ischia goes on.

After failing at its asking of 4m …

… now for rent for 7,000 per week (no, not month - per week).
translates to 28,000 per month (or 336k per year, or a rental yield of 8.4% on the asking of 4m ?!).
Sorrento Road, Dalkey, Co. Dublin
€7,000 WeeklyHouse to Rent | 5 Beds | 5 Baths
Agent Logo Clare Connolly Property Consultants
Properties to Let Let Agreed Properties PSR Licence No: 003013
daft.ie/dublin/houses-for-rent/dalkey/sorrento-road-dalkey-dublin-1612293/

By comparison, you can rent this little thing on Shrewsbury Road for almost 50% of Ischia’s rent ??
daft.ie/dublin/houses-for-rent/ballsbridge/shrewsbury-road-ballsbridge-dublin-4-ballsbridge-dublin-1606311/

Would somebody please speak with Eddie about how Dublin real estate differs from Monte Carlo real estate ?

Maybe then he can start to get some cheques (either in rental form, or sales form) from Ischia.

airbnb.ie/rooms/9784716?s=SgEiTXUF

€1200 per night on AirBNB, for a minimum of 3 nights…

that is 8,400 per week or 33,600 per month ??
Ischia just gets weirder and weirder.

It’s not that weird. It’s pitching for the high end self catering market.
This type of thing, except Dublin - hiddenireland.com/
Here’s another one airbnb.ie/rooms/2996794?s=tDBYVb9Z that seems to be doing OK at a not dissimilar price.
There are a few more on VRBO. Seems to be about 30% overpriced but that seems par for the course with this lot.

The Shrewsbury house is going for the long term market, different kettle of fish.