Desmond's D4 bidding war

AROUND THE BLOCK: Shrewsbury Square penthouseMCD concert promoter Denis Desmond must be happy to watch the ongoing bidding for a large penthouse he is selling at the swish Shrewsbury Square apartment complex in Ballsbridge, Dublin 4.

Joint selling agents Hunters and Savills originally sought €875,000 for the 1,500 sq ft city pad, and not only did they get that figure within days, but the bidding has continued since and by yesterday had reached €1.325 million. Who knows where it might end but it still has a long way to go to match the €2.5 million paid by Desmond around 2007.

The luxury development on Sandymount Avenue attracted quite a few downsizers when it first went for sale just before the property market ran into difficulties. Developers Sebastian Devlin and Johnny Burns of Woodgreen Property Partnership managed to sell most of the 70 apartments at what now looks like particularly strong prices – €850,000 for two-bedroom units, going up to €5.5 million for three-bedroom penthouses. Early purchasers included broadcaster Gay Byrne and a string of wealthy empty-nesters.

Desmond’s three-bed penthouse is clearly one of the most luxurious to have hit the Dublin market for some time. It has a particularly spacious livingroom/ diningroom with Travertine marble floor opening out on to an extensive sandstone patio that can be used as additional dining and leisure space. The kitchen has a range of integrated appliances down to a plate warmer.

For all residents there is a concierge on duty around the clock, so not surprisingly the service charge for this penthouse is €5,600 a year.

Unsuccessful bidders for the penthouse will shortly have another opportunity to buy into Shrewsbury Square. Agents Hooke MacDonald are asking €1.25 million for an even larger apartment there, a three-bed with 1,900 sq ft at first-floor level. Like the penthouse, it has two underground car parking spaces.