Sunday Tribune 14th November 2004
The Millionaire Square
It’s a €100m near sellout as the country’s wealthiest buyers splash out on Gerry Barrett’s D4 development.
The near sell-out in less than 48 hours of almost 50 exclusive homes in Dublin 4, priced between €1m and €4.5m, indicates the phenomenal wealth in some sectors of this country.
Launched on Tuesday evening at a drinks reception at Dublin’s Merrion Hotel, over €100m worth of property was snapped up before lunchtime on Thursday, and building work hasn’t even started yet.
The upmarket hardback brochures liberally distributed at the Merrion reception to over 100 guests and prospective buyers gave a hint of the luxury homes due to be unveiled on the night and with more than 80% of homes sold already, few if any were disappointed with what they saw.
Overall it was a busy week for Galway-based developer Gerry Barrett. As well as launching Edward Square, his €150m scheme in Donnybrook, Barrett also acquired the Hatch Street University Hall building for which he paid €16m, and which is likely to be turned into apartments.
The 4.85 acre site on Bloomfield Avenenue, situated between Appian Way and Morehampton Road in Donnybrook, is the former grounds of the Quaker Hospital. “In terms of a new development, there’s nothing comparable to Edward Square in Dublin 4”, commented selling agent Felicity Fox.
And while Barrett acquired the site back in 2000, part of the deal included building a new hospital and Quaker meeting house in Rathfarnham, to be constructed before the new development started. And with that project almost completed, the Quakers are due to be re-housed by Christmas, enabling construction work at Edward Square to start in January.
The overall development will comprised 59 houses and apartments along with a large office block, all of which is expected to be finished late 2006….
Delighted with his latest project at Edward Square, which he says combines the best of classic 18th century design with a modern twist, Barrett, a shy and retiring former school teacher, has a definite leaning towards preserving the traditional in our built environment. His recent shopping centres, Scotch Hall in Drogheda and Edward Square shopping centre in Galway, are both town-based and element that he believes is very important.
“I don’t think it’s a good idea for shopping centres to be located out in the suburbs in places you have to drive to. For me a shopping centre should be situated in a hub where people can walk to. We have designed our centres so they can accommodate the smaller traditional shops as well as the larger stores that need plenty of space.”
Other projects he has taken on include the restoration and conversion of Barna House in Galway, the 18th century home of the Lynch family. The main house and 19th century stables were sensitively converted into 24 homes. An nest on his agenda? “We plan to open our Eye Cinema in Galway in March which will be followed by a sister cinema in Drogheda,” said Barrett.
Designed by Douglas Wallace architects, the Edward Square scheme in Donnybrook comprises and interesting mix of four- and five-storey Regency-style houses, contemporary glass-fronted mews homes, modern apartments and restored listed buildings.
The large period-style houses will be laid out in two terraces of three- and four-bedroom houses. The four-bed house has a floor area of 4,252 sq ft and accommodation is laid out over five levels. At basement level there is an entrance hall, lounge, kitchen cum dining room and cloakroom while at first-floor level thre is a main hall, formal drawing room and dining room which opens out to a terrace. Steps lead down from the main terrace the lower ground floor patio and large rear garden.
Also on the first floor is the main bedroom and ensuite along with a second double bedroom and separate showerroom, while the second floor contains another two double bedrooms, one ensuite and the main bathroom. The top floor provides a large studio living room complete with wall to wall glazing, a showerroom storeroom and good-sized terrace.
Apartments vary from 590 sq ft to 1076 sq ft, and are laid in contemporary open-plan style. The three-bed mews houses are also very modern with glass-fronted walls on all three levels. Sizes range from 1410 sq ft to 1733 sq ft.
The three listed buildings on site, which include Bloomfield House, Swanbrook House and Swanbrook Cottage, will be restored and will form part of the 30000 sq ft office block that Barrett says might suit an embassy or corporate headquarters.
Apartments and mews homes will be equally luxurious in their finish, and will include wall to wall glazing in bedrooms, designer kitchens with state of the art fixtures and appliances, and contemporary style bathrooms with glass washbowls.