What a difference a facelift and a substantial price drop makes. The former Shrewsbury Road home of bankrupt developer Seán Dunne and his wife Gayle Killilea is about to find a buyer. In May 2015, Ouragh, their 8,700sq ft (808sq m) mansion was placed on the market by the National Asset Management Agency through estate agent Colliers asking €7 million.
Eighteen months and a couple of price drops later it is understood the sale is down to two bidders and the property is likely to go Sale Agreed in the coming weeks for a sum just above the latest €5.5 million asking price.
In early October a renewed post-Brexit marketing push saw the property dickied up to the tune of €40,000 by De Veres with €100,000 of furniture and artwork installed. Aesthetics aside, it’s likely the real deal clincher was the latest price drop from €6.5 million to €5.5 million.
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Dunne paid €3 million for the site in 1999 and was reported to have borrowed up to €12 million for its construction.
