A large Ballsbridge house divided into flats was sold to a housing developer for €9.3 million at auction yesterday - a massive €2.8 million over the guide price quoted by auctioneers HOK Residential.
Seven bidders - mostly developers and commercial investors - chased Halcam Court, 61 Pembroke Road, in Dublin 4, a mid-19th century four-storey over basement house with a modern six-storey return and a mews on its grounds. It was sold to Mr Gerry Gannon of Gannon Homes.
Bidding started at €6 million for the distinctive redbrick property, set in a total of 19 self-contained flats and in need of updating. One of its main attractions is its 32-space car-park - a valuable asset in the prime corporate territory of Ballsbridge.
Mr Gannon could not be contacted but it is believed likely by industry sources that the house will be turned into a luxury apartment development. The main house was built in 1843 and has high ceilings, period plasterwork and sash windows, though the return is a good deal less attractive. Its status as a protected building will mean that planning conditions will be restrictive.
The estate agent handling the sale, Ms Iris Keating of HOK Residential, called the price achieved for Halcam Court "phenomenal".
"But with hindsight you can understand why it fetched such a high price. The parking and access from Pembroke Road and Raglan Road make it very attractive to a developer."
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