MALAHIDE: FROM €1.475M:Modelled on Shrewsbury Road, a scheme of spacious period-style houses in Malahide comes to the market with price reductions of up to 62.5 per cent, writes JACK FAGAN
A DEVELOPMENT of Edwardian-style houses in Malahide, Co Dublin, which failed to sell when they were launched in September 2007, are back on the market at discounts of between 50 and 62.5 per cent. Prices now range from €1,475,000 to €2,250,000.
Modelled in many ways on Shrewsbury Road in Ballsbridge, the 45 large homes in Streamstown Wood, off the Malahide Road, are now exceptionally good value, according to Joe McPeake of selling agent McPeake Auctioneers. Sherry FitzGerald Blanc are joint agents.
There will be seven different types of houses, all of them three-storey over basement and all seriously large, ranging in size 448–685sq m (4,827–7,383sq ft).
The houses are being built by Donal Caulfield’s LM Developments which was also involved in the starter home scheme, Belmayne.
The original launch of the Streamstown Wood houses (lavish leather-bound brochures that cost €750 each accompanied it) coincided with the beginning of the new homes meltdown. However, with signs of a pick-up in sales in the past few weeks, Streamstown Wood has been repriced and repackaged to appeal to families interested in trading up to stylish new houses on the outskirts of Malahide.
Two houses already built feature Edwardian-style hipped roofs, double sided bay windows, arched entrances and landscaped gardens set within fine cast-iron railings. A unique feature of Streamstown Wood is that, within each house design, purchasers will have the freedom to choose the layout and the interior details and finishes.
One of the two houses on site, the five-bedroom Mandeville, is particularly spacious at 685sq m (7,383sq ft) and is essentially being sold in shell and core condition though it does have a kitchen and some tiling. A swimming pool in the basement has been built but it still has to be tiled. The developers will contribute €60,000 towards the completion of the fit-out of the house which was originally priced at €6 million. The new figure is €2,250,000 – quite a drop in any market.
The second house on site, the five-bedroom unit known as The Lanchester, has also been brought to the shell and core stage. It has a floor area of 510sq m (5,500sq ft) and a new selling price of €1,750,000, just 50 per cent less than the original asking price of €3.5 million.
All the other houses going for sale are six-bedroom mansions ranging in size from 448sq m (4,827sq ft) to 650sq m (7,000sq ft) and cost from €1,475,000 to €1,950,000.
Houses will be ready to move in nine to 12 months from the time of booking. One of the strong selling points is an Edwardian-style private park which forms the centrepiece of the development. It has been greatly enhanced by the provision of intricate paths, a water feature and a fruit garden. Nice touches. The showhouses can be viewed on this Saturday and next, or by private appointment.
Streamstown Wood, Malahide, Co Dublin
Development of three-storey over basement houses
Agents:McPeake Auctioneers and Sherry FitzGerald Blanc
