THERE was a time when builders could realise a tidy profit by buying up old houses, carrying out the necessary structural repairs and painting everything magnolia. Nowadays, there is still a profit to be made in "turning" a property, but it takes a lot more thought and expense. Labour costs have risen sharply over the last five years, making refurbishment a costly business. Buyers are prepared to pay a premium price for a refurbished property, but only if it has been finished to a high standard.
Take this four-bedroom mews house at 22 Lad Lane Upper, overlooking the canal in Dublin 2. Previously the home and consulting rooms of a Dublin doctor, it sold last autumn for £490,000. Now totally transformed, it is back on the market with a guide price of £850,000 and an ultra sophisticated interior where everything is for sale, from the top-of-the-range computer in the attic office down to the leather armchairs, funky cutlery and the candles by the Jacuzzi bath.
The 2,300 sq ft house is being sold by interior decorator Isabelle Morton, who spotted its potential when it came up for auction last September. The first thing she did was to build on another floor, adding a superb home office with views across to the canal. Then, she set to work on the rooms, painting and furnishing them in a bold contemporary style.
According to Ms Morton, the house will appeal to someone who wants a turn-key base in Dublin without any of the hassle of renovations. "It's likely that the person who buys this will also want the contents. Everything is here, so they can move in with just a suitcase." The strong guide price underlines the demand for property in a busy city centre location with a decor to match. "It's not enough to simply refurbish this type of property. People like the idea of buying a whole new lifestyle," she said. "Increasingly, clients want a job completely finished, down to the paintings, before they will move in. They don't have the time to deal with builders. They want to cut out the hassle altogether."
The mews house is hidden behind a high mint green gate in a granite archway that slides back to reveal a pretty gravelled front garden with a teak table and chairs ideal for taking morning coffee. There is off-street parking for two cars.
One major improvement was to enclose a passageway that led along the side of the house to the front door. This is now a striking entrance hall, with an Italianate mural across the ceiling and copper torcheres with live flames billowing from them. At the end of the hall a glass brick wall divides it from the main living-cum-diningroom. The livingroom is a bright room with leather armchairs clustered around a raised modern fireplace at one end and a dining area at the other.
French doors lead to the mature back garden, where a minimalist wooden sun lounger is positioned amid spiky architectural plants, in the exact spot to catch the afternoon sun.
The kitchen at the front of the house is another strikingly modern space, with azure blue units and a stainless steel island topped in granite. French doors open on to the gravel patio in front of the house.
Upstairs, the main bedroom at the back of the house has a small walk-in dressing room and a good sized en suite shower room. There are two further double bedrooms as well as a guest room decorated in vibrant shades of red and orange. The family bathroom has a Jacuzzi bath with tiny lights set into the ceiling overhead.
A new staircase leads to the top floor where there is a superb livingroom-cum-office with three south-facing Velux windows overlooking the canal. Decorated in restful cream and furnished with black leather furniture, this could well be the room that sells the house, particularly for those planning to work from home.
Number 22 Lad Lane will be auctioned by Jackson Stops on October 11th.
