Richmond Homes earmark another Foxrock site for development

The Irish housebuilder Richmond Homes has assembled a large development site on Stillorgan Road in Foxrock, in south Dublin. In July the developer acquired a 1.23-acre site named Aberdour for an undisclosed sum and an adjoining house named Roselawn for €2 million, in an off-market deal. Planning permission had been in place to build a 48-unit apartment scheme on the Aberdour site, to be known as Granville Hall, but the addition of Roselawn's 0.54-acre site will, presumably, enable the developer to enlarge the proposed development.

Before the sale Aberdour's registered owner was Thycar Investments, a company linked to a Ranelagh-based accountant, while Roselawn was owned by a Gibraltar-based company named Pembroke Partnership. Pembroke is linked to a Shrewsbury Road businessman who appears to have acquired the property in October 2017 for €1.75 million, according to the property-price register, before flipping it to Richmond Homes for €2 million in July of this year. The businessman has previously been linked to another successful site flip at 10 Pembroke Place in Ballsbridge, in Dublin 4.

Brighton Road site

This is the second site Richmond Homes has recently assembled in Foxrock, following its acquisition of two houses, Damson Lodge and Craughwell, and a 2.35-acre site on Brighton Road in recent weeks. The developer has already applied for planning permission to construct houses and apartments on the site. It’s likely that the two existing houses on the site, currently in move-in condition, will be resold to private individuals rather than demolished.

Meanwhile, a further development play looks to be unfolding in the heart of Foxrock village. Two adjoining houses on Torquay Road, Arden and Beverley, appeared in the property-price register as sold for €2 million and €1.5 million within two weeks of each other this summer, although they had never been marketed for sale.

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The houses adjoin Clonbur, a site at the centre of the village that was marketed for sale this year with existing planning permission for a substantial residential development. There has been no confirmation that a developer has assembled the three properties, but if it were the case the overall site would extend to more than 1.4 acres, with about 130m of road frontage. Watch this space.