herald

Wednesday 29 March 2017

Ten years ago it cost €45m...now Haughey estate on sale for €3m

ABBEVILLE and its surrounding 80 acres – the estate once owned by Charles Haughey – is on sale for €3m, almost €40m less than it fetched at the peak of the property boom.

And the entire estate – the property plus all 250 acres – can be yours for €5.5m.

A decade ago, however, the estate sold for €45m.

Estate agent Sherry Fitzgerald is overseeing the sale of the sprawling property, which is in Kinsealy, close to Malahide.

 

HOTEL

As with other luxurious properties, Abbeville's value has plumetted in recent years.

"Anyone wishing to purchase the entire 250 acres can engage in talks with us," David Ashmore of Sherry Fitzgerald said.

There had been plans to redevelop Abbeville into a hotel and golf course after its previous owners, Manor Park Homebuilders, went into receivership.

But the plans never took off and the planning permission granted by Fingal County Council expired in 2011.

According to Sherry Fitzgerald, the estate has a "long and illustrious history" and is "positioned within glorious grounds, complete with timber parkland".

But the estates agent admits that the home needs a facelift.

"Abbeville presents a unique opportunity to secure a magical residential estate in quite a remarkable city location.

"While the house has some fine and gracious reception rooms, the accommodation requires modernisation."

 

INTEREST

Manor Park bought the estate from Mr Haughey for around €45m in 2003.

But the company went into receivership and attempts to sell the entire estate for €7.5m last year failed.

Abbeville, which is expected to attract interest from US buyers, boasts 23 stables as well as paddocks and an indoor equestrian arena.

noconnor@herald.ie

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