herald

Saturday 22 November 2014

McFeely's mansion looks like selling fast

Tom McFeely's mansion in Ballsbridge may not be on the market for long if current interest in the seized property is anything to go by.

The disgraced Priory Hall developer had the Ailesbury Road property repossessed after he defaulted on his €9.5m mortgage.

And with an asking price of €3m, a fifth of its value at the height of the boom, the selling agents report there has been "a number of inquiries".

"It is a prime property now available at a good price," said a spokesman for Colliers International, which is selling it on behalf of a NAMA subsidiary.

"There has been good interest in it and it has only been on the market over a week," said the Colliers source. "We don't intend to really advertise it until after Christmas, if it is still on the market then," they added.







Screening

But potential buyers of the Dublin 4 mansion, called Coolbawn, will have to jump through a few hoops to get in the door to view it -- because the estate agent is screening applicants.

Colliers International wants to know the names, addresses, emails and business details of anyone seeking to give the Ailesbury Road property the once-over.

NAMA advertised the property for sale just hours after the Priory Hall developer lost his High Court bid to regain his former home.

"We require the details just to establish that the viewers are genuine potential buyers," a Colliers spokesperson told the Herald.

Property specialists told the Herald that for security reasons many vendors of 'high profile homes' employ similar procedures when selling their homes.

NAMA told the Herald it would not be opening the house to the media.

"Prospective buyers should make arrangements with the selling agents," it said.

cfeehan@herald.ie

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