A former council house in Dublin which was bought for €50,000 before a drug dealer spent an estimated €430,000 on extensive renovations is being offered for sale after it was seized by the Criminal Assets Bureau (Cab).
The property on Killala Road, Cabra formerly belonged to Christopher Waldron and is being advertised by Gibson Auctions Ltd.
Photographs show a two-storey extension to the rear of the property which almost fills the back garden area. There is also a high-specification small dwelling in the back garden which could be used as a ‘granny flat’ or so-called ‘man cave’.
“This property is a three-bedroom end of terrace town house offering vacant possession,” Gibson Auctions said. “Internally accommodation briefly comprises entrance, lounge, kitchen-dining area, downstairs WC, three bedrooms, family bathroom, and attic conversion.
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“Finished to a high standard internally, the property is sure to appeal to a range of buyers and investors alike. Externally, the property benefits from off street parking to the front and a paved rear garden.”
There is a minimum opening bid of €275,000 set and the online auction for the property will open at noon on April 25th.
Cab seized the house, as well as a number of expensive watches, from Waldron, of Killala Road, after successfully arguing in the High Court that he had bought them through the sale of drugs in Cabra and Finglas. The case concluded in March, allowing the bureau to move to sell the property, the proceeds from which will be returned to the Exchequer.
An application was previously made to the High Court to seize assets owned Waldron under the Proceeds of Crime Act. Among these was the Killala Road house, bought in early 2013 and extended and renovated at an estimated cost of €431,000.
“The funds used to build the extension and renovate the property are determined to have derived from the criminal conduct of Christopher Waldron,” said Cab.
Seven watches seized by the bureau from Waldron were sold at auction last December and fetched a total of €72,900, with some €30,100 being paid for one, a Gold Rolex Oyster Perpetual Day-Day automatic watch. During the Cab investigation into Waldron some €4,605 and stg£445 in cash was also seized. This has since been forfeited to the State.
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