This €6,000 per month rental on Leeson Street is now on sale for €3.5m

Five-bedroom Victorian in Dublin 6 was renovated in 2008 and sold for €2.35m in 2013

  • Address: 5 Leeson Park, Ranelagh, Dublin 6
  • Price: € 3,500,000
  • Agent: Haines
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At the height of the Celtic Tiger property boom, one of the most active buyers in Dublin 2, 4 and 6 was a residential property investment vehicle named Capital D Property founded by entrepreneur John Morrissey. The idea was to buy, grandly refurbish and sell on – at considerable profit – fine family homes in the best Dublin locations.

Fitting perfectly into the portfolio was 5 Leeson Park – a superbly located, grand Victorian Dublin 6 home needing work. The company bought it in 2008 and swiftly completed a top-class renovation, that included extending to the rear to add extra space and a contemporary feel.

The timing, needless to say, was disastrous – and the house which at the height of the boom might have been expected to sell for more than twice the price, eventually sold in 2013 for €2.35 million

Then it was bought by an Irish family living abroad who expected to move home, and until they could they rented the five bedroom, six-bathroom house for about €6,000 a month. But their business interests have kept them abroad and while they do intend moving back to Ireland in the far future it will be to a downsized house and not the 345sq m (3,714sq ft) three-storey over-garden level Leeson Park house. In that time, if their 2013 buy sells for the new asking price of €3.5 million it will have added more than €1 million to its value in just five years.

Careful restoration

The proportions in the rooms on every level are predictably grand, great big airy rooms off wide halls and landings and the renovation included careful restoration of the house’s many original Victorian features.

The tenants are gone and the house – freshly painted – has been furnished for sale, so it’s pristine.

There are three bedrooms at the top of the house – the main bedroom is all luxury: a suite running from front to rear with a dressing area and its own bathroom. The fourth bedroom with its vast picture window looking out over the rear garden is in the hall floor return in the new extension and it has a large study area outside with an en suite making it an ideal space for a teenager. The fifth bedroom – with en suite – is down at garden level to the front.

The grandest rooms are the hall-floor interconnecting reception rooms – with original folding doors – but an equally grand space is the superbly designed, bright contemporary extension at garden level that houses the sleek Poggenpohl kitchen, a utility, a large dining area and a family room.

The landscaped rear garden has a terrace and a long, lawned garden with pedestrian entrance at the far end. Many years ago a previous owner applied for permission for a mews but it was declined. There is off-street parking to the front for two cars.

Agent Barry Finnegan of Haines is selling 5 Leeson Park, seeking €3.5 million.