WIW - Rutland, Crosthwaite Park South, Dun Laoghaire

myhome.ie/commercial/brochur … re/3124204

Rutland House - 2,971 sq.ft (276 sq.m) on 0.59 acre site. Planning permission for two detached houses each 2,443 sq.ft (227 sq.m) has lapsed in 2014

Previously sold for over €1.2 in 2001 irishtimes.com/life-and-styl … n-1.298515

Since Rutland house has been delisted I assume it has very little architectural importance and can be knocked down to make way for a row or semi-ds similar in style to those on Crosthwaite Park West. Otherwise with original house retained, another detached property of approx 4000 sq.ft built on the remaining site. But then again, the street has no sea views or any other special features.

Comparable smaller site on Elton Park in Sandycove was guiding over €1.1m in 2013 and now has two houses already built/sold with one more to follow.

What are your thoughts pinsters?

It may be ‘POA’, but the actual asking is a rather step €1.9 million. Pity it isn’t listed as I actually like the house (its exterior, anyway, I’m sure the inside is a dump at present) and would make a fantastic single-residence. Had they denied planning the asking would be so much lower and refurbishment as a single-residence would be financially viable - annoying that they granted permission as they have sealed its fate as a development site.

At a guess one would need to spend €1.1m to refurbish existing and build two more houses per previously approved plans. That gets overall investment to €3m And then sell each for €1.3m to get a decent profit. Not impossible I suppose but hardly worth it.

irishtimes.com/business/comm … -1.2711198

Back on the market “on the instructions of receiver Tom Kavanagh of Deloitte” as part of a portfolio of sites.