Launched with much fanfare in 2006 with prices ranging upwards from €820,000, this development of 14 luxury thatched homes subsequently became a casualty of the recession.
When none of the properties in the picturesque Waterford village had sold by 2011, St James Wood was described in the press as the prettiest ghost estate in the country.
By that time, neglect had taken its toll and weeds had taken over the gardens and the roads, while the thatched roofs and the exterior walls were in need of attention.
Though some locals once suggested to a reporter that the unused development should be knocked, it has now been rescued by two Waterford city businessmen, who bought the 14 properties.
According to the Property Price Register, numbers 11 to 14 were bought for €85,000 each last December, while the first 10 were purchased for €850,000 in February this year.
Selling agents Sherry FitzGerald Reynolds say that work has started on restoring all the properties to their previous prettiness and that this has involved cleaning, gardening, painting, putting down new flooring and, where required, finishing.
No 12, a four-bed 1,910 sq ft house is the first of the 14 to be market ready. Auctioneer Cormac Curran says it’s a beautiful spacious property with high quality fittings which has been brought back to its previous high standard.
Accommodation at ground level includes a laminate-floored lounge, a tiled kitchen with cream units, granite work tops and quality appliances, as well as a dining room, a utility room, a shower room and two bedrooms.
Upstairs there’s a bathroom and two laminate-floored bedrooms with en suites, as well as a 34 ft long laminate-floored room allocated for storage.
The C1 energy-rated property has Rationel windows and doors and eyebrow windows, which were especially imported from Germany by the developer.
Out front, the garden has recently been graveled, while the one at the back has been reseeded.
Located within minuteswalk of Stradbally a popular tourist village on the Copper Coast, it’s within easy reach of a number of local beaches.
Though the properties were originally marketed as holiday homes, Mr Curran says that, given their size, other options are possible.
Since No 12 came on the market at the start of the month he’s already shown it to a family relocating from Dublin and another from Cork and has also made a booking to show it to a foreign buyer seeking a holiday home.
A modern variation of a restored thatched property.