You could piece together the history of Ireland through the stories of some of our period terraces, and Dún Laoghaire’s Crosthwaite Park is no exception. Built as a street of grand family homes in the mid-1800s, you can see signs of servants’ quarters in the layout of basements and coal chutes. Later, many of these properties were carved up into flats, some of which were then upgraded into swankier apartments. Now the partitions are coming out and they are being reborn as truly gorgeous houses once more.
Number 1 Crosthwaite Park West is one of the very nicest. At the end of the terrace, and with 285sq m/3,068sq ft of space, it has a quarter-acre of grounds and light from windows on three sides so you can enjoy sunrise and sunset every day.
Converted pre-1963, it’s currently arranged into eight apartments, which bring in €7,925 a month (€95,100 per annum). According to Lorraine Maher, who is looking after the sale for DNG, the house, priced at €1.35 million, has “the potential to bring in €120,000 a year if the property is renovated to a higher standard”.
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Maher also points to further potential for development in the garden, subject to planning permission, of course. The current owners have kept a good eye on things, so the work might include repainting the facade, changing some carpets and updating the kitchens, bathrooms and general decor, to add the word “luxury” to the apartment description. (Compare it with number 17, in seven units, which Sherry FitzGerald has on the market at €850,000.)
As it’s for sale with vacant possession, a buyer could alternatively take advantage of moving to this great location – close to all the amenities of Dún Laoghaire, with great transport links to the city centre – and convert it back again for single family use.
Intact original features include the lovely portico entrance, two Victorian fireplaces, some plasterwork and ceiling roses, a nice stained-glass window and a pair of bay windows. From the upper floors there are gorgeous sea views, and Crosthwaite Park itself is right outside.
The two garden-level apartments have their own front doors, so there is plenty of space for a family in the rest of the house, while keeping an income from the lower floor. The house is a protected structure, and estimates for the restoration costs of a period house are about €1,000 to €2,000 per square metre, although the upper figure would give you a Rolls Royce job, and include replacing fireplaces, cornicing, sash windows and so on.
