Starter homes: Sunday’s Well, Cork €185,000

Size: Sq m: 154 (1,665 sq ft)

Magnificent dereliction is about the only way to describe ‘Locharn’ — one of those stately old houses lining Sunday’s Well Road and with superb views over Cork City’s green heart.

This mid-terrace property is a new market entry with Stephen Clarke, of O’Donoghue Clarke, and it will cause interest in certain quarters — there’s a specific type of house buyer for this area, which is also recession-proof. Sales happened here right throughout the bust, albeit at reduced price levels.

A similar property up the road, but in better condition and semi-detached, made close to €270,000 last year and still required work. This time round, the three-storey Locharn has a much lower guide, but the renovation costs will rise exponentially.

There is serious work involved here, which Stephen Clarke acknowledges, but the need to fasten the structure of the house might allow a major overhaul of the rear facade — but it would all depend on planning permission. In the meantime, there are lovely internal features, and rooms are spread over four floors including the attic, but the roof will need to be replaced.

Hidden from the main road behind a high wall, the kitchen is at basement level at the front, but at ground to the rear, and the formal, inter-connecting reception rooms are at first floor level.

Three bedrooms are on the second floor and there could be scope to create a suite in the attic. . The basement area could be pressed into use to take in the westerly summer sunlight.

VERDICT: A challenging, but potentially rewarding project. Do if you dare or have funds.