New plans put in to salvage €58m Celtic Tiger home
THE D4 mansion that smashed Celtic Tiger prices is in line for a new lease of life after lying derelict for years.
Walford, on Shrewsbury Road, was bought by Gayle Killilea, the wife of developer Sean Dunne, in 2005 for a staggering €58m.
Dunne is fighting a bankruptcy ruling in Ireland over a €160m debt to Ulster Bank.
And he has filed for bankruptcy in the US, where he has declared debts in the region of €725m.
Walford has been empty since 2005 and fell victim to the ravages of time and the collapse of the property market, eventually being bought by a mystery buyer last March for just €14m.
But now the detached Tudor-style Edwardian redbrick could get a new lease of life after a planning application was lodged last week with Dublin City Council to renovate and extend it.
There are also plans to build four more houses in its grounds.
The six-bedroom house, which sits on 1.8 acres on the capital's most expensive street, was built in 1902 and owned by the same family, the Duggans, until it was sold eight years ago.
Unlike many trophy homes sold during the Celtic Tiger boom, it has none of the luxury fixtures and fittings that were considered essential.
Extensive works will be needed to bring it up to standard, and one report said that the large rear garden "looked like a ploughed field".
The planning application by a company called Yesreb Holding Ltd, based in Cyprus, with a post-office box address in Limassol.
It is seeking to alter and extend the 433sqm house to more than double the floor space to 964sqm.
To the rear of the house, a new development of four detached houses, each of 608sqm, is proposed around a shared private space.
The houses are to be three storeys over a basement, with the top storeys set into a pitched roof.
Extensive new landscaping and tree planting, as well as widening of the driveway, is also planned.
The house backs on to Shrewsbury Road, facing Old Belvedere Rugby Club.
In 2005 it was described as "the finest house to come on the market" in years.