AroundtheBlock: The big game players on Shrewsbury will be busy over the next two weeks, getting their bank managers on side to fund what will be the most expensive property ever to hit the Dublin property market.
Walford may not be the best looking or most up to date detached house on the road but, for sheer redevelopment potential, it is the second best, after the Andersons' extraordinarily large spread on the corner of Shrewsbury and Ailesbury roads. The big guns will all be chasing Walford and its 1.8-acre garden which could accommodate either a handful of large houses or a substantial apartment block. Either way it is going to be redeveloped, despite the best efforts of those already living on the street who have been very vigilant so far in stalling redevelopment in their leafy neighbourhood.
It's quite a coup for Sherry FitzGerald and Simon Ensor to pull in such a major property, especially as it seemed destined to go on the books of Hamilton Osborne King. The decision to sell by tender will come as a surprise because virtually all the top houses in Dublin have been sold through auction, giving everyone a good day out in the process. Those in the running to buy may face formidable opposition from the likes of Derek Quinlan, who can tap into a rich vein of capital for his ever-expanding wealthy clients. However, he doesn't have the building know-how of other neighbours such as Sean Dunne or Paddy Kelly who are sure to be on the fringes of the deal. Walford will turn out to be the most hyped property sale for decades and only the most astute will be able to gauge what it is really worth, based on the precise development potential rather on pure snob value.
Bertie makes friends with auctioneers
The Institute of Professional Auctioneers & Valuers got a real shot in the arm last weekend when Taoiseach Bertie Ahern showed up at their annual conference in the Radisson Hotel in Sligo. The institute can thank its new president, Willie Farrell, for getting Bertie on board. Willie of course represented the Government party with distinction in the Senate for many years and is a close friend of the leader. Unlike the IAVI conference, the institute's annual get-together is a more low key, though friendly event. All in all it was a good news weekend with Bertie full of praise for the housebuilding industry, who also happen to be good supporters of his government, and economist Dan McLaughlin also optimistic about the prospects of the next few years. The population is forecast to grow by a further 500,000 over the next decade, rising to some five million by 2020.
Bertie assured the estate agents that there would be plenty of action countrywide. Like the good politician that he is, Bertie worked the room and ended up with a lot more friends by the end of the night.
Q&A - the French way
A Q&A session on French property takes place this weekend in VEF's new premises at 124 Lower Baggot Street. MD Trisha Mason and her team from local French offices will be on hand to discuss new-build, price rises, re-sales and how to live the French life.
Tickets are still available for Friday's invitation evening which starts at 5pm. An open day takes place on Saturday from 11am to 6pm. Tickets can be had for Friday's Q&A session at VEF's Baggot Street offices on 01-6425786 or online at ireland@vefuk.com.
