Speculate to accumulate in Rochestown

YOU have to speculate to accumulate, as the saying goes, and this site on the Rochestown Road in Cork is as good an example as any of superb speculative ingenuity.

This 0.12 plot is the back garden of an existing cottage of the Rochestown Road, which took longer than expected to sell at the time, says Lucy Wolfe of Lucy Wolfe and Co.

Which was surprising, really for a prime Rochestown Road site, she says. The property sold in the high three hundreds, a sum that perhaps, other bidders though too high for a roadside cottage.

But were they wrong? The cottage is now back on the market, and its former garden is now a 0.12 acres site with full planning permission for a house that, in Lucy Wolfe’s words, comes straight out of Grand Designs. Alas, without Kevin McCloud.

Ms Wolfe, in the manner of these things, is now the agent for this double-the-money sale, and she quotes a price of €275,000 for the cottage and €350,000 for the site.

Now, when you consider that high-end apartments in the southside are close to three-quarters of a million, you could have your own, 2,500 square foot house here, overlooking the inner harbour and with the Rochestown Road address for less than that sum. That’s presupposing that the bidding on the site doesn’t go sky high.

And it might, because the design is superb and fully utilises the tight space with an internal courtyard and rooms spread over three floors.

Four bedrooms, with en suite main and bathroom are on the ground floor and the living rooms are over floors one and two. This makes the most of the inner harbour views and the courtyard provides a private, outdoor area. And, there are two raised terraces to boot.

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