WIW Lady Cross, Silchester Road, Glenageary, Co. Dublin

Lady Cross, Silchester Road, Glenageary, Co Dublin
€2,375,000 - 6 Bed Semi-Detached House 424 m² / 4564 ft² For Sale
myhome.ie/residential/brochure/lady-cross-silchester-road-glenageary-co-dublin/3117616

Originally put up for auction last summer for 2.3m AMV with Lisney, but there were no bids at auction.
irishtimes.com/life-and-style/homes-and-property/new-to-market/elegant-redbrick-on-silchester-for-2-3m-1.1786805

Came back on with Sherry Fitz asking 2.6m with still, no bids.

Now reduced to 2.375m.

Original asking was too high. “Up & Down” period houses (i.e. narrow and split over +three floors) are tolerated in core D4 & D6, but less so further out, where there are many more two storey living options (both period and non-period). “Up & Down” period houses are not suited to modern family living. Many of the “up & down” houses in South County Dublin have been harder sells and have often traded at a discount if anything. (take examples of Seapoint Lodge in Monkstown, or 5 Elton Park in Sandycove).

In fact I would take Seapoint Lodge at 1.9m (same size + much better condition + much closer to town + also close to DART) over Lady Cross, even if it was at the same price ?

This was the problem with Lady Cross. It came out as if it was a trophy home in core D4 / D6 but it is not.

I suspect there could be another discount to go off the asking to get to a final sale.

Take 20 Marlborough Road (a street away) which sold at the end of 2013 (same size + plot + better aspect + good road).
I don’t think prices are up almost 40% in 2014 in Glenageary (i.e. Lady Cross at 2.375m vs. 20 Marlborough at 1.7m)?
20 Marlborough Road was also classier “Up & Down” with the front door at the side (unlike Ladycross which is cheaper looking).

12/11/2013 €1,700,000.00 20 Marlborough Road, Glenageary, Co. Dublin
thepropertypin.com/viewtopic.php?f=23&t=61418&p=748735&hilit=20+marlborough#p748735

irishtimes.com/life-and-style/homes-and-property/2.1233/restrained-grandeur-in-glenageary-for-1-85m-1.1425879

Waiting for the price drop here.

One thing that people have discovered post crash is how expensive it is to renovate very old period houses.

When you add VAT plus architect fees, even very basic re-fits (for modern living) are 100 per sq ft. (or. 400-500k)

More luxurious re-fits (or core re-fits plus 600 sq ft extensions), come in at 200 per sq ft. (800-1000k)

We have seen a lot of resistance to pricing for period wrecks lately as people get more wise to this.

Lady Cross 33 Silchester Road Glenageary Co. Dublin.
SOLD per PPR for 2,175,000 on 26-07-2016

This could have been worse, so not a bad result for sellers.