The first owners of 1 Blackrock Crescent could, quite literally move straight on in with a few suitcases of clothing in hand, and after a quick shop at the local Aldi up the road, or at the bustling Sunday Blackrock village farmers’ market - for a bit more posh to fill the fridge and larder.
And, if they wear hats, or night caps and gowns, well, they can hang them up at No 1, and announce themselves right at home. It’s ready to rock and breakfast roll.
Fresh to market with estate agent Trish Stokes of Lisney, and carrying a €445,000 asking price, is the former showhouse for the latest phase of the sizeable Eden development, in Cork’s suburban Blackrock and off Skehard Road.
It was freshly kitted out and finished last summer, was much admired and facilitated the virtual sell-out of the Crescent itself.
And, the planned sale of top showhouse No 1, plus the nearby No 10 in a builder’s finish at €20k less, quoting €425,0000, is sort of a swansong for auctioneers Lisney Cork, who’ve successfully shepherded the scheme at the grounds of Blackrock’s Ursuline Convent from Day One.
It started selling back in 2005, for original developers Pierce Construction and Firestone Developments who acquired it with planning in place, secured by Cork developers Lyonshall, who sold it all on for a handsome profit.
Set to have 550 units across one of the highest density schemes when launched in ‘05, attractive-looking Eden was designed by O’Mahony Pike Architects, it even included appointed Dublin joint agents Hooke & MacDonald.
In the interim, economic events intervened, and it’s only in the last year or two that entirely new builds at a lower ‘market friendly’ density started to flow once more.
Called The Avenue and Blackrock Crescent, and selling via Lisney Cork, many new owners are already in occupation in several dozen of those brand new, A3 rated builds, and with sale prices (net of VAT) up on the Price Register.
Lisney also handled the sale of 44 previously rented residential Eden units for receivers Grant Thornton. Also finished and sold by them were the very upmarket apartments at the historic Ursuline Convent, now called Blackrock House.
Now, it seems, ‘Dublin’ is back in control at Cork’s Eden, as the new owners of the remaining land and development opportunities at Eden/the Ursuline grounds are Glenveagh Properties, the publicly listed Dublin-based development firm.
Late in 2018, Glenveagh paid an unconfirmed c €9m for the last slice of Eden, with planning to build 140 final units: about 60 of them will be houses, and the rest will be apartments.
They’ve got contractors Howleys on site already, clearing the way for construction to start, with no disclosure yet who will do their actual building.
Also recently acquired in Cork by Glenveagh Properties was the Ford Distribution site in the docks (the Live at the Marquee grounds) for up to 1,000 apartments for €15m, and they also successfully bought out the remainder of the Maryborough Woods site in Douglas from Nama, for a confirmed €25m, bringing their land purchases in Cork in the past year to about €50m, along with a site they have in Midleton.
Expect to hear more of their activities down in the deep south right through 2019, including who’ll build and sell what’s left at Eden, and at what prices.
Importantly, that last phase of Eden will have access direct to the heart of Blackrock and village and the pier via the original convent site’s main avenue.
That too will link then to Blackrock Crescent and the Avenue, giving it a bit of extra locational cachet and access options.
Those new-builds sold last year with 1,245 sq ft three bed semi-ds at €375,000/€385,000, plus two-storey four-bed semis at The Avenue (which have convertible attics) sold at €395,000, while the three-storey, 1,720 sq ft four-bed at Blackrock Crescent sold at €425,000, with kitchens, built-ins and other finishes in place.
And, that’s the price level of the remaining No 10, while this show unit done by Dublin-based Fitout Interiors is the walk-in proposition at €445,000.
Auctioneer Trish Stokes say the value of what’s included here is likely to be well in excess of the €20k premium No 1 carries, given the scale and quality, over all three levels, including four bedrooms, two en suites and walk-in wardrobes and at ground level.
Most buyers, even of the larger homes, have been first-time buyers, Ms Stokes reveals (some of the three-beds were bought too by traders down), and the sun room protrusion to the back has been a particularly admired feature of the floor plans at Blackrock Crescent, along with the huge top-floor suite.
Expecting keen interest, and noting that No1 would be a perfect fit for family buyers coming back from overseas or moving from a rental home, Lisney’s Ms Stokes observes “it is indeed a hang up you hat propositions, and once new owners are living here, they can change things around as and when they like.”
VERDICT: Only the one shopping decision to be made......
Size: 154 sq m (1,720 sq ft)