One of south Dublin’s best-known estate agencies, Daphne L Kaye and Associates, has been acquired by leading industry player Sherry FitzGerald. The deal – for an undisclosed sum – will deliver an immediate presence for Sherry FitzGerald in the lucrative Foxrock area where Daphne Kaye has dominated the residential property landscape for decades from her village premises.
Kaye’s Foxrock office will operate as Sherry FitzGerald from today. Kaye will join Sherry FitzGerald as a director of the residential business maintaining close ties with the Foxrock branch, which will now be managed by Serena Maguire, who joins from the Bray office.
Daphne L Kaye’s business will provide a landmark presence for Sherry FitzGerald in the Foxrock, Carrickmines and Wicklow border area where detached homes on substantial sites routinely trade for multimillion euros. It brings to 17 the number of Sherry FitzGerald branches in the capital.
Clients of Daphne L Kaye and Associates have been notified of the change in ownership and given the option to remain with Sherry FitzGerald or switch to another agent. Any deposits currently on the books will transfer to Sherry FitzGerald within seven days.
Domination
Kaye, who founded the Foxrock office 30 years ago, has earned a reputation for her domination of, and often fierce protection of, the lucrative surrounding terrain. In 2012, relative new kid on the residential agency block, Hunters, under the stewardship of former employee of Kaye, Rowena Quinn, set up shop in Foxrock and made inroads by securing a number of high-profile instructions in the area.
Kaye owns the landmark property in the heart of the village where The Gables restaurant operates. She also acted as the agent for developer David Arnold in the boomtime peak purchase of Gortanore for € 31 million, a substantial Foxrock village site envisaged as a new village centre with a mix of shops, apartments and townhouses that never reached the development phase.
Kaye said she was approached to sell the business three to four years ago, but “meaningful discussions” only began in earnest with Sherry FitzGerald in January of this year. Commenting on the announcement, Michael Grehan, Sherry FitzGerald managing director said: “Daphne has been one of the leading residential agents in Dublin ever since she established her firm. She has gained a significant client reputation and is a very well-respected and popular figure within the industry. The addition of Daphne to our team will strengthen our client offering.”
Kaye’s husband and business partner Martin Gilmartin is to retain the lettings and management portfolio of Daphne L Kaye and Associates and will operate under the new trading name Trustee Property Management TPM.
