THE PAST is a different country, they say . . . and that’s certainly true in Foxrock, in Dublin 18. Only a few years ago investors and developers stalked its leafy lanes looking for big gardens that might be built on. (Foxrock Golf club was a prize many wanted, where plans were mooted for plush housing).

But timing is everything as the owner of Innisfallen on exclusive Kerrymount Avenue, knows. The house, which made €3.4 million under the hammer in 2003 – €650,000 over its guide price – is now back on the market through Space Property Consultants for €2.25 million after the market downturn – and a failed planning battle to develop its grounds.

A planning application to build a house to the rear in 2004 was turned down and in 2008, An Bord Pleanála upheld a decision by Dún Laoghaire Rathdown County Council to refuse permission to demolish Innisfallen and build two six-bed houses on the grounds. And then the area it’s in was designated part of Foxrock Architectural Conservation Area.

It has become clear there’s no development potential in its grounds except, perhaps, a redevelopment of the house itself.

And it’s some house, although in need of complete refurbishment: set back from the road and approached via a sweeping driveway, the 350sq m (3,195sq ft) six-bedroom detached house built in the 1920s sits on just under an acre.

A new owner could hope to renovate or redevelop Innisfallen but any design would need to be sympathetic to the character of Kerrymount Avenue.