The shoebox apartment is making a comeback and prices of new developments coming on stream in south Dublin’s most desirable areas are slowly but surely making their way back to boomtime highs. For buyers seeking larger proportions and lower prices, they should look at the area’s mature apartment blocks, where prices are still relatively low and where buyers have the opportunity to put their own stamp on often dated interiors.
16 Earl Court, Adelaide Road, Dublin 2
€260,000, Sherry FitzGerald, 49sq m (530sq ft)
Constructed in 1984, Earl Court is undoubtedly one of Dublin’s most conveniently located developments, just minutes from St Stephen’s Green and all that Dublin city has to offer.
While we have become accustomed to modern apartments having no natural light in kitchens and bathrooms, Number 16 is a surprisingly refreshing sight as it has windows in every room bar its entrance hallway. The bathroom and kitchen are located off that hallway, as is the living- room, which features in-built storage and leads to the bedroom through a set of double doors.
The living-room is especially bright, being dual-aspect, and features an open fire – a rarity in relatively modern city centre developments, where electric fires are the norm. The kitchen is sufficiently large, with plenty of room for a dishwasher, washing machine and oven; however, more efficient use could be made of the space if buyers were to start over with new units.
The apartment has electric heating, which may be a turn-off for some potential buyers. However, great strides have been made since the days of cumbersome-looking storage heaters, and buyers could eventually install new modern electric radiators, which are available in similar designs to their gas counterparts these days.
Given its location, a car is certainly more of a luxury than a necessity for potential buyers, although the apartment comes with the benefit of one designated underground car parking space.
No apartments in the complex have sold in recent memory; however, prices have returned to 2000 levels, when a neighbouring top floor one-bedroom apartment was for sale for €252,000. Prices of up to €1,400 per month are now being sought for one-bed apartments in the development, and as such the apartment may well attract investors.
The apartment is subject to an annual service charge of approximately €2,102.
3 Victoria House, Ballsbridge, Dublin 4
€425,000, Murphy Mullan, 85sq m (915sq ft)
Long before he was dubbed the "Baron of Ballsbridge", developer Seán Dunne built Victoria House at the junction of Haddington Road and Percy Place in 1995. The development comprises commercial space on the ground and first floor, with eight apartments spread above the top two floors, each of which is unique, with different sizes and layouts.
Number 3 is a second- floor corner unit, which comprises entrance hallway, livingroom cum diningroom, eat-in kitchen, two double bedrooms and one bathroom. Like all of the apartments in Victoria House, Number 3 does not have an en-suite bathroom, which may have been a somewhat unorthodox design decision considering how spacious the apartments are, but this allowed for larger bedroom sizes. The most impressive room in the house is clearly the dual-aspect living-room, which faces both south and west. The focal point is a curved corner window, with floor-to-ceiling glass, offering views towards Baggot Street.
Apartments in the block rarely, if ever, come on the market and as such there hasn’t been a sale in years. Originally in 1995 all two-bedroom units bar one cost between €144,000 and €191,000.
Directly across from Victoria House, a new apartment development will soon be launched, with prices starting from around €9,600 per sq m. Number 3, at €5,000 per sq m, would therefore be a good buy for someone seeking a spacious apartment in this location for almost half the price.
One downside to this apartment is its lack of a parking space; however, given the central location, a car is certainly not required.
The annual service charge is approximately €1,500, which is reasonable for a two-bed in the city centre.
168 Seamount, Stillorgan Road, Booterstown
€395,000, Sherry FitzGerald, 103sq m (1,100sq ft)
Completed by Shannon Homes in 1999, Seamount is a well-maintained development on substantial landscaped grounds, located off the Stillorgan Road. This location affords easy access to the city centre thanks to the N11 QBC, and UCD is just across the road.
168 Seamount is a large three-bedroom apartment on the ground floor of the development’s smallest and lowest-density block. While most blocks in the development are five-storeys tall and built in close proximity to one another, Block 7, in which this apartment is situated, is spread over just three floors and is well detached from neighbouring blocks, giving it an enhanced sense of privacy.
Inside, the apartment is presented in superb condition throughout and has gas heating. The interconnecting living-room and kitchen cum dining-room are particularly pleasant, both being good-sized rooms with French doors leading outside. The spacious living-room, which opens out to a private terrace, features solid wood floors and a fireplace. All three bedrooms have built-in wardrobes, while the master has an en-suite bathroom. A family bathroom completes the accommodation.
The apartment comes with one designated parking space, and the development has ample guest parking.
Even at the development’s launch in 1999, the cheapest three-bedroom units were priced from €336,500. By 2006, a near-identical first-floor unit to Number 168 was for sale asking €715,000. In 2015, another three-bedroomed apartment sold for €435,000. Number 168 is competitively priced and offers a much cheaper alternative for potential buyers looking for a home in the Booterstown area, given that houses of this size cost substantially more. For those seeking an investment, a three-bed in worse condition was rented with an asking price of €1,800 per month last year.
The yearly management charge is about €2,082, which is about as cheap as it gets for a three-bed in a quality development such as this.
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