The Criminal Assets Bureau have seized a Volkswagen car and a Rolex watch in an operation targeting a member of an organised crime gang in Dublin.
Officers carried out the search in Coolock this morning and were assisted by the Emergency Response Unit.
The house in question belongs to a well-known individual who has suspected links to the Hutch crime gang.
In addition to the Golf GTI and luxury ladies watch, computer equipment, mobile phones and documents were also seized.
CAB said today's operation is "significant" in the context of their overall ongoing investigation targeting the proceeds of crime.
The investigation is focused on the purchase of property and expenditure on refurbishment and extensions.
A second search is being conducted at an office in Dublin.