Restoration job on 49 acres by shores of Lough Allen

Co Leitrim/€1m:News this week from the Permanent TSB/ESRI house price index that house prices in Leitrim increased by 29 per cent in 2006 was disputed by at least one local estate agent who put the increase in prices at a more measured 10 per cent.

However, there are properties with ambitious price tags in the county, notably Derrintober House, in Drumshambo, which is on the market for €1 million.

Called a "gentleman's residence, in faded grandeur" by its agent DNG O'Farrell, it is a derelict period property that sits on 49 acres.

Derrintober House was last lived in as a family home and working farm in the 1950s.

An attraction for buyers who are brave enough to take on the massive refurbishment task, is that it enjoys extensive lake-side frontage to Lough Allen.

There is also good road frontage onto the Drumshambo/Dowra Road.

The two-storey house measures around 241.5sq m (2,600sq ft) and comes with full planning permission for renovation which at least cuts out some of the red tape for prospective buyers.

There is a two-storey stone outbuilding at the back and it has planning permission to be converted into a two-bedroom apartment and studio.