“Buy land, they’re not making it anymore.” So said the American writer Mark Twain and countless others since on the supposed rock-solid wisdom of investing in the ground beneath one’s feet. And although there are plenty more who would disagree, few would be prepared to argue against Twain’s dictum when it comes to the South Dublin suburb of Foxrock.
They’re not making any more land there but they’re certainly preparing to make far more out of it judging by the recent uptick in the disposal of the area’s original, substantial homes and their gardens.
Having already witnessed the construction by erstwhile Baron of Ballsbridge, Sean Dunne, of the high-end Hollybrook apartment scheme on Brighton Road at the height of the Celtic-Tiger era, the area has once again become a hotbed of activity as developers look to maximise the returns available to them in the sprawling surrounds of its grandes dames.
While Joe O’Reilly Castlethorn Construction, Michael Cotter’s Park Developments have led the charge this time round with their respective schemes at Brighton Wood and Brennanstown Wood, Carlson Homes, the company headed by Stephen Byrne and David Keogh has made its own statement with The Terrace, a boutique development of eight town houses in the heart of Foxrock village.
[ Developer snaps up Foxrock site with scope for 27 ‘compact homes’ for €2.875mOpens in new window ]
[ Foxrock site zoned for residential development guiding at €1.695mOpens in new window ]
And there’s far more to come if the latest slew of sales go through.
The most significant offering on this occasion is Craughwell. Located on a 1.27-hectare (3.13-acre) site on Brighton Road, the five-bedroom detached house came for sale in September at a guide price of €11.5 million with full planning permission for the development of 57 new homes consisting of a mix of 21 three- and four-bedroom semidetached houses along with 36 one-, two- and three-bedroom apartments.
This week saw the arrival to the market of two other substantial properties with scope for the development of so-called “compact-housing” schemes.
In the first instance, agent Cushman & Wakefield is seeking €1.7 million for Ceiliúrlann, a large detached 1960s house on 0.32-hectare (0.80-acre) site on Leopardstown Road next to the White’s Cross junction on the N11. The site has scope for the development of 12 large houses or 20 “compact” homes, the agent says.
The nearby enclave of Knocksinna meanwhile offers another opportunity for the delivery of new homes. In this case, agent Knight Frank is guiding a price of €1.695 million for Windrush, another large detached home on a 0.55-acre site backing on to the substantial grounds of Foxrock Golf Club.
