DUBLIN 2: FROM €299,500:A CITY CENTRE apartment scheme in Dublin's fast-developing dockland area has prices starting at €299,500.
Selling agent HT Meagher O'Reilly New Homes is opening three show homes this weekend at The Ivory Building, Dublin 2 - a 29-unit scheme of one, two and three-bedroom apartments.
The development is off Sir John Rogerson's Quay near Grand Canal Square and forms part of a larger mixed-use scheme, which incorporates the Quality Inn Hotel and the new ESRI offices.
It was originally launched last October, but only seven units were purchased, predominantly by first-time buyers.
Now builder Haytonvale Developments - like many other new homes developers - has decided to cut prices. This, however, is the first city centre scheme to cut prices this season.
One-bedroom apartments are priced from €299,500, compared to €390,000 last year - a cut of over 23 per cent. Two-bedroom apartments are from €429,500, down from €489,000 - a cut of over 12 per cent. And three-bedroom duplexes cost from €525,000, reduced from €650,000, representing a price drop of almost 20 per cent.
Prices do not include car-parking spaces, which will cost an additional €45,000.
Apartments sizes are fairly standard for city centre starter homes. One-bedroom units have around 46sq m (506sq ft). Two-bedroom apartments are laid out over 68sq m (758sq ft) and three-bedroom units have 92sq m (1,039 sq ft).
Fit-out at The Ivory Building is also standard. Kitchens have off-white gloss units and polished black granite worktops.
Residents have access to a communal rooftop garden which has great views over Dublin's dockland.
Prices and décor at The Ivory Building are pitched at the urban professionals who are following the many new businesses that have moved into the docklands area.
Investors are also likely to be interested, with strong rents in the area. David Browne from HT Meagher O'Reilly New Homes estimates that one-bedroom units would get €1,600 a month and two-bedrooms apartments €2,100.
The area is experiencing dramatic changes at the moment with significant investment in residential and office developments underway.
Cafés, restaurants, convenience shops and a new gym have opened to service the new docklands population.
The area is well service by public transport with the Dart at Grand Canal Dock and Pearse Street station in walking distance.
THE IVORY BUILDING, OFF SIR JOHN ROGERSON'S QUAY, DUBLIN 2
Apartments:one-bedroom units from €299,500; two-bedroom units from €429,500; and three-bedroom duplex units from €525,000. Car-parking spaces cost an additional €45,000.
Agent:HT Meagher O'Reilly New Homes
