Around the block: All dressed up but will it go?

Thu, Jun 12, 2014, 00:00

Spare a thought for 25 Ailesbury Road. The former Hungarian Embassy located on the prestigious Dublin 4 road has been passed through an unseemly number of agents’ hands for sale in recent years, with no luck.

A ghastly extension to the rear isn’t helping matters, and about another €1 million is needed to bring it up to par with its neighbours.

Part of a distressed portfolio owned by Lonestar, in March Lisney tried to auction the 4,596sq ft property for €3 million with no joy.

Now Hunters are on the case, and going the cosmetic enhancement route. They’ve spent about €10,000 improving its “curbside appeal”, agent-speak for tizzying up the gardens and painting the windows and door.

Inside they’ve also employed designer Caroline Irvine to “stage” the house with tasteful interiors. The result is effective. A new price tag of €2.95million has been set, so let’s see if it flies. Increasingly we’re seeing receivers loosening the purse strings to fund small improvements to properties before sale.

Last year even a lick of paint would have been frowned upon by receivers, now there’s a dawning realisation that residential sales are more emotional, aesthetic transactions.