An ambitious upmarket housing scheme is in the pipeline for the former Cottage Home in Dún Laoghaire, Co Dublin.

The listed Victorian building on Tivoli Road, which was run as a children's home on a charitable basis for over 125 years, was purchased by property investor Robin Power in 2005 for an estimated €6 million.

He has plans to turn the property into five exclusive homes and to build six four-bedroom houses in a Victorian-style terrace to the rear facing onto Royal Terrace North.

Royal Terrace was developed in the mid 1850s but, of the three terraces planned for the square, only the west and part of the east was completed.

The south side was developed in the mid 1900s when semi-detached homes were built.

Only one house, Royal Terrace House, was built on the north side of the square.

This house is in the ownership of Power's family.

The developer is looking to complete the north terrace by building six terraced homes. The houses will be three-storey over basement looking onto Royal Terrace and four-storey over basement facing the Cottage Home.

Designed by Chris Boyle Architecture, the replica Victorian terraced homes will have in the region of 346sq m (3,725sq ft) of living space.

The homes, if they get approval from Dún Laoghaire Rathdown County Council, will also have concealed roof gardens and large basements with wine cellars and home cinemas, as well as underground car-parking and internal lifts.

The five two and three-bedroom homes planned for the Cottage House will have between 136sq m (1,460sq ft) and 212sq m (2,285sq ft) of living space and will be built in a loft style.