Temple Gardens in Rathmines, Dublin6, is a quiet road of just 26 houses tucked away between the broad sweep of Palmerston Road and quieter Merton Road running along the Luas track to Cowper. But, for a short stretch of detached and semi-detached homes, it certainly punches above its weight when it comes to sales.
In the last five years there has been quite a turnaround on this road, with eight of its properties selling since 2013 for a ballpark average of about €4 million apiece (this figure is skewed somewhat by the inclusion of the sale of a small semi-detached mews for €1.1 million in 2016).
For decades these fine, mainly detached Edwardian homes set on substantial grounds remained largely unattainable because they tended to be occupied by generations of the same families. Meanwhile, properties on nearby Shrewsbury and Ailesbury Roads in Dublin 4 saw their values multiply, plummet, then rise again as the new captains of industry replaced the old in a huge turnover of houses on both roads.
Take number 17, Northcote, which went on the market last year seeking €4.5 million. It had been 100 years since it was previously on the market and it has remained in the family ever since. Following a price drop to €3.95 million it’s understood the rambling 340sq m (3,660sq ft) redbrick closed in recent weeks for a figure close to this sum.
In 2016 three houses on Temple Gardens changed hands: number 5 sold off-market for €6.5 million; number 1, a semi-detached house, fetched €5.85 million (more than €1 million over its asking price); and number 19 sold for a little more than €4 million. In 2017, number 7 sold for €3.32 million, while last September a quiet sale took place when number 2, Belclaire, went for €4.1 million.
‘Off the radar’
Sherry FitzGerald selling agent Geralyn Byrne is behind almost every on- and off-market sale in Temple Gardens in recent years, and describes the area as “off the radar, much more low-key than other headline roads nearby”.
The biggest prices obviously go to the houses which have been refurbished in recent times and are ready to walk into
“There is a sense of neighbourhood here, with a lot of great schools and the Luas on the doorstep. The other advantage is that it doesn’t get any passing traffic – if you’re on the road you are probably coming home.”
One other appeal is that these tend to be mainly set over two or three floors with no gloomy basement to reconfigure.
The biggest prices obviously go to the houses which have been refurbished in recent times and are ready to walk into. And even where the property is in need of an overhaul, buyers will still pay big money for the generous sites which ensure plenty of garden enjoyment even after the house has been substantially renovated and extended.
This week sees number 16, Kilfenora, coming to market through Geralyn Byrne of Sherry FitzGerald, priced at €2.95 million. The apparently “competitive” price reflects the size and condition of the property.
Located next door to Northcote, it is substantially smaller at 210sq m (2,260 sq ft) and doesn’t have the benefit of rear access. However, the four-bed with a sizeable garage to the side sits on the sunny south side of the street on a vast third of an acre garden.
Whoever buys will doubtless want to refurbish the house, but it can be done without compromising too much on the outdoor space and without losing any of the lovely retained original features inside.
