Killiney/€4m: Small houses with large gardens in mature neighbourhoods are being sold for record prices because of the potential to build entire housing schemes on their sites.
Such is likely to be the case with San Michele, a redbrick bungalow on 1.14 acres of garden at Church Road in Killiney, Co Dublin, close to the Killiney shopping centre. Lisney has put an AMV of €4 million on the property which goes to auction on June 22nd.
Located on the southern side of Church Road, with valuable frontage of 51.5 metres (170ft) and two entrances, there is obvious scope to develop the sunny gardens which face the Dublin mountains.
The four-bedroom house is a good size with around 200sq m (2,160sq ft) of living space and a large garage/workshop to the side. It may be retained and renovated as part of an overall scheme of townhouses or apartments.
It's a popular neighbourhood with a scarcity of both large family houses and smaller homes suitable for affluent first-time buyers or downsizers, so an in-fill development would find a ready market.
In recent months two large newly built houses on Church Road sold for over €2.5 million each.
