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good value?

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    #2
    Victor
    Registered Users Posts: 78,273 ✭✭✭✭Victor


    Well with 1.8 acres attached, you could add say 50 large apartments at €2m a pop.....


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    #3
    lomb
    Registered Users Posts: 6,031 ✭✭✭lomb


    Victor wrote:
    Well with 1.8 acres attached, you could add say 50 large apartments at €2m a pop.....

    i doubt it, have u seen shrewsbury rd? and the house? looks like a nice house to me worth say 9 or 10 million, the land is nearly useless, in some ways. theres minimal road frontage, also the planners turned down any apartments at all at 1 and 3 shrewsbury road setting a precedent. basically the fact is 1 semi detached house on shrewsbury road IS worth circa 10 million euro, and 1 detached house is worth 30 million euro. the extra 15 was paid because its the finist land on shrewsbury road kind of like ego value.

    looks like some people in this country are winning at the old game of monopoly ;)


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    #4
    Victor
    Registered Users Posts: 78,273 ✭✭✭✭Victor


    Oh, some building contractor, I think one of the McNamaras spent €17m renovating / extending his house (marble swimming pool, etc.)

    You could of course build 4 €10m+ houses, sell them off and still have your own house on Shrewsbury Road.

    I suspect, but don't know that there has been a lot of fudging of stamp duty in the area, with part of the money paid off shore. Its odd that prices jumped from €10m to €17.5m to €45m with little in between.


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    #5
    lomb
    Registered Users Posts: 6,031 ✭✭✭lomb


    Victor wrote:

    You could of course build 4 €10m+ houses, sell them off and still have your own house on Shrewsbury Road.

    that probably is true so even if the land is worth 8 million then 8 fours is 32 million, so can sell that leaving the house worth 13 million+5 million stamp duty meaning 18 million for the house, very clever but takes big dollars and is a bit of a gamble. the road frontage isnt great but im sure access could be gained to the site behind.


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