Dalkey pad withdrawn from sale as €4m fails to clinch deal

IT may not herald a U-turn in property price trends but one of the most exclusive homes to come to the market in Ireland this year failed to sell at auction yesterday, despite an offer of €4m.

No 5, Sorrento Terrace, in the south Dublin village of Dalkey, was withdrawn from sale by auctioneers Sherry FitzGerald after they received just one serious bid at public auction.

Despite its exclusive address, the auction attracted less interest than anticipated. Experts believed wealthy bidders would emerge as it was the first time in five years a house on Sorrento Terrace was put up for sale.

The record price for a home on the terrace was €7.5m, which was paid by British businessman Terry Coleman in 1998 for Sorrento House.

The terrace, which consists of just eight houses, has been dubbed Millionaires’ Row. Other famous residents include film director Neil Jordan, barrister Ronnie Robins and wealthy businessmen Robin Power and Colm Barrington.

Sorrento Terrace offers spectacular views across Killiney Bay to Bray Head and beyond to the Wicklow Mountains.

No 5, which is owned by top barrister Frank Clarke, was put up for sale with a guide price of €3.8m.

Mr Clarke bought the house in 1993 for just under €600,000.

The four-storey residence, which dates back to the 1840s, boasts more than 3,800 sq ft in area as well as a large, private garden with access to the seashore.

Auctioneer Michael Grehan withdrew the property after informing the small crowd that the house would not be sold for less than e4m. The auctioneer is believed to be engaged in private negotiations with a bidder.

It wasn’t all bad news for Sherry FitzGerald yesterday as the auctioneers secured around e5m for Paddock Wood, a detached residence in nearby Killiney.