Killiney house makes £2.3m

A million . . . two million ain't what it used to be in the Dublin property market. Yesterday, Mount Mapas, a large detached house overlooking the sea at Victoria Road, Killiney, made £2.3 million at a Lisney auction, the highest price paid for a Dublin house under the hammer.

The price was £900,000 above the pre-auction guide price, but then at this level, house-hunters set their own values.

The six-bedroom house, which stands on 1.25 acres on the corner of Vico Road, is regarded as one of the finest seaside properties in the area. Lisney auctioneer, Tom Day, told the four bidders they were unlikely to see another house like it this century. Bidding opened at £1 million and proceeded in leisurely bids of £100,000 and £50,000 until it reached £1.9 million. At that stage, the house was declared "on the market" and with that a new bidder came in offering £2 million. He eventually got it, beating the young underbidder, Pat Gunne, who was acting for a wealthy Irish businessman. As for the new owner, the customary secrecy surrounds his or her identity.

Mount Mapas has all the ingredients that millionaires look for - stunning sea views, handsome reception rooms for entertaining on a grand scale and space on the lawn for a helicopter pad. Not to mention rich neighbours. Singer Enya is shortly moving into the parish, having paid around £2.5 million for Ayesha Castle, which looms above Mount Mapas on its 3.5 acres of woodland.

Bono has a mansion nearby while truck importer, Pino Harris, is a stone's throw away at Mount Eagle.

Mount Mapas was built in the 1820s as a simple hunting lodge. Decades later, extensions were built on either side, giving it a floor area of 6,000 sq ft on three levels. In all, there are five reception rooms including a snooker room. The property includes a two-tier garden, and a separate hidden garden below the house, on the sea side of Vico Road.

The previous record for a Dublin house was set 12 months ago when Gavin O'Reilly paid £1.95 million for Bartra House, overlooking the sea at Dalkey. That price took the market by surprise given that the 10,000 sq ft house is sandwiched between a new apartment development, Bartra Rock, and a large new house. However, since then the demand for houses has strengthened considerably, particularly those overlooking the south Dublin coast.