Site potential is the draw for this €600k off-Magazine Road bungalow

New owners will probably remodel Rosemary substantially or consider knocking it 

Rosemary, Lima Lawn, Magazine Road

Magazine Road, Cork City
€600,000
Size	97 sq m (1044 sq ft)
Bedrooms	3
Bathrooms	1
BER	G

IN 2011, when the property market was at rock bottom, Rosemary in Lima Lawn came up for sale. The guide at the time was €350,000 and the main attraction, then as now, was the site.

Rosemary, Lima Lawn, Magazine Road

Fast forward a dozen years, and with property prices back near their pre-crash zenith, the price of house and site has climbed from that low point by more than 70%.

Selling agent Johnny O’Flynn of Sherry FitzGerald says there’s strong development potential on account of the site size (0.27 acres) which he believes could accommodate two pairs of semis.

To give a buyer an idea of what that might look like, drawings have been done, but anyone interested in pursuing this option would need to obtain planning permission.

Because of where the site is, near UCC, two major hospitals, and plenty of schools, Mr O’Flynn says initial interest is coming from traders-up who want to stay in the area.

“They would probably make good of the existing house and extend it,” he says.

The existing house, a three-bed, old-fashioned, detached bungalow, was occupied until recently he says and “while in need of renovations and modernisation, has plenty of potential to become the ideal home”. 

Accommodation includes three bedrooms, a bathroom, a kitchen, dining room and sitting room.

Mr O'Flynn is guiding the 97 sq m property at €600,000 and says it is “attracting good interest”.

Tucked away in a green corner of Lima Lawn, backing onto Bendemeer Park, off Magazine Road, it has a lawned, west facing rear garden and more lawn out front. As one of the earlier houses in Lima Lawn – it dates to the 1930s while the main estate dates to the 1950s – it has the benefit of a bigger site.

Lima Lawn is within a nice walk of Cork City centre and is a well-laid out estate close to Glasheen National School.

VERDICT: Mature and private site in a terrific location which a builder/developer could add value to. Anyone looking to trade up will need to factor in significant upgrades. An entirely new build is likely to be considered too.