Models sip wine and eat asparagus tips from silver forks in billboards for south Dublin's swishest new development. And it seems the market likes it, ays Property Editor Orna Mulcahy
When property developer Ray Grehan paid over €85 million for an 11.3-acre apartment site in Stillorgan 12 months ago, the property market held its breath. The price seemed high, particularly as the former Esso site fronting onto the dual-carriageway had been bought just four years earlier for €31.75 million.
However, with the first phase of apartments being launched today, and plans to enlarge the overall scheme quite significantly, the Galway developer is on line to make a killing at The Grange.
It's become one of the most talked about sites in Dublin, with its soaring black and white billboards featuring sultry models sipping champagne and eating asparagus tips with silver forks.
Behind the hoarding, building work has only just begun with the first apartment due for completion at the end of 2006. Already, though, over 100 of the apartments have sold from plans, with two-bedroom units priced from €550,000.
One-bedroom apartments start at €425,000 and three-bedroom apartments start at €650,000, with penthouses kicking in at €875,000. The selling agent is Catherine O'Connor of HOK.
Buyers queued up to book their new homes on Monday evening at a launch party held in a swish marketing suite that cost €1 million to build. While fireworks spelt out "The Grange" in the sky, inside, property professionals agreed that Grehan has raised the bar for future suburban developments with the suite's smart touch-screen brochures, the walk-through, fully furnished apartments, and the bar serving champagne and miniature dinners on tiny white plates.
The marketing suite has two full apartments - a two-bed and a three-bed unit - fully furnished down to the table and chairs set out on the timber decks. Viewers will be able to see the full spec, from bathrooms and kitchens to flooring and lighting.
However, Grehan is banking on plans for a 24-hour concierge service on site to sell the development which eventually will have 700 apartments. The idea is that residents can call the concierge if they need a pizza, a car to the airport or someone to be there when their furniture is delivered.
Those who've already snapped up homes here include affluent couples from the immediate neighbourhood buying either to trade down to, or as an investment for their children. A number of property developers have also purchased apartments, as well as investors keen on the location close to good transport routes and to UCD.
The overall scheme is designed by O'Mahony Pike Architects - who seem to be be handling all the high-end apartment developments in the city at the moment - and the apartments being sold at this stage are in a series of blocks on the southern boundary of the site, backing onto Leopardstown Gardens. Later plans for the site include at least four new buildings which will have a leisure centre with swimming pool and gym.
The billboard images are being carried through in the apartment design which is smart and urban. Innovations include big wide hallways and ceiling height doorways that create a greater sense of light throughout the apartments.
Underfloor heating throughout means that there is more wall space for furniture, while the boiler is housed outside, off the balcony. The balconies themselves are larger than average, with many apartments having wraparound balconies. All will have space for a table and chairs, loungers and pots.
For a virtual tour of this development click on www.nicemove.ie
