Another stage in the redevelopment of the Smithfield area of Dublin has been reached with the completion of a distinctive new five-storey block of apartments bordering the western end of the square.
The 73 new homes go on sale from today at prices mainly from £149,000 for one-bedroom apartments, £190,000 for two-bedroom units and £240,000 for large three-bedroom apartments.
Four show apartments will open today and tomorrow from noon to 3 p.m. when Hooke & MacDonald will be taking bookings.
The apartments are likely to sell within days not least because they are among the last in the city to qualify for Section 23 tax breaks. Owner-occupiers and investors will be able to claim over 60 per cent of the purchase price because the development was substantially completed when the tax scheme ran out at the end of April last. Visitors to the development will undoubtedly be impressed by the dramatic transformation that has taken place in the Smithfield area over the past two years.
Apart from the completion of Smithfield Village and the new Chief O'Neill's Hotel, together with the Jameson Irish Whiskey Corner, Dublin Corporation has done a superb job in re-cobbling the main square and installing flame beacons on top of 12 tall light masts.
The main beneficiaries of the huge changes taking place are the owners of the apartments in Smithfield Village. The market value of these homes has more than doubled since they were sold off the plans over three years ago.
People planning to purchase in Smithfield Gate this weekend will also be banking on significant capital appreciation as preparations are made to redevelop a second side of the square currently used as a car scrap yard and a fruit market.
Smithfield Gate has been built by Danninger, a sister company of Zoe Developments, which has been the most prolific apartment developer in the inner city over the past 12 years.
First impressions of the new scheme are very positive. There is a handsome entrance foyer with bright marble-style floor tiling and ash wall panelling. A full-height atrium off the entrance hall throws constant light on the stairwell during the day. Most of the ground floor area facing on to the square will be taken up by three retail units.
The development has a good mixture of apartment sizes and layouts to satisfy a great many tastes. There are 30 one-bedroom apartments ranging in size from 470 sq. ft and 36 two-bedroom units with between 650 and 840 sq. ft. For those with a deep pocket who need extra space, there are 10 penthouses in all, two of them with three bedrooms, six with two-bedrooms and one with a single bedroom. The three-bed penthouses have floor areas of 1,070 sq. ft. One of these is located in a copper dome and has a stunning semi-circular layout with a no less than five windows looking out on a huge terrace focused on the square. The kitchen might be considered a bit on the small size for a home of this quality. The main bedroom also has a semi-circular configuration and a larger than usual en-suite bathroom. The three-bedrooms in the penthouse are all doubles and two of them open directly out on to the roof terrace. The cost of this home had not been fixed by yesterday.
There is a mixture of terraces and balconies with 17 of the other apartments. The one and two-bedroom units have spacious living-rooms, large enough to accommodate a dining area. Food is dispatched through a hatch from the kitchen.
Most bedrooms can take double beds and all of them have built-in wardrobes.
The scheme incorporates communal roof terraces and a landscaped garden, as well as an extensive courtyard area. There are 44 spaces in the underground car-park, which is entered from Red Cow Lane. Parking spaces will cost about £20,000.
