Silver lining in niche development

THREE acres and a bungalow just off the Rochestown Road made around €1.5 million when it went for sale through Maurice Cohalan of Cohalan Downing, over three years ago.

Silver Birch was one of those enviable homes on the edge of the city - rolling paddocks for a couple of ponies, and a residence, which while a neat bungalow, came with absolute privacy and a woodland boundary.

Now this property is back on the market - but as an €8 million-plus scheme of townhouses and apartments by builder and developer Con Kiely, who recently completed Chatsworth in Douglas, Co Cork.

It’s still called Silver Birch and is jointly marketed through Terence O’Leary of O’Mahony Walsh and Peter Cave of Hamilton Osborne King.

Prices are on the upper side of average, but not as expensive as similar housing closer to the Douglas area - €330,000 for a three-storey townhouse and around €270,000 for a two-bedroomed apartment of 750 square feet.

Bearing in mind that the density is really low for such a large site and that the houses are more or less in the Harty’s Quay/Abbotswood ambit, then the premium is to be expected. And will be paid, if current sales are anything to go by, with the market absorbing increases of up to 20% in some cases in Cork city

Here, low density and a good address will be the major selling points, as well as the currently fashionable, three-storey layout.

This provides for a full master suite on the uppermost levels and affords views of the lower harbour and Mahon.

Laid out in two rows forming a sort of crescent, with a backdrop of trees, the houses overlook a green area and come in mid and end terraced types.

Approached by a sweeping driveway off Monastery Road, the Silver Birch scheme has just 25 three-bedroomed units and four two-bed apartments on a three acre site, which makes this very special.

And that’s definitely all, says auctioneer Terence O’Leary, who’s already going through his database of customers for a match:

“There won’t be a second phase,” he says, “this is a niche development by a very good builder so it will be a low-density, very exclusive estate.”

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