Thursday, March 31, 2011
Now that’s what I call a crash! 60%+ off
THE supply of redbricks for sale in Dublin 4 has taken off this week with the release of property portfolios owned by financier Derek Quinlan, and by James Reynolds, a brother of the former taoiseach (prime minister). A house near the American embassy in Ballsbridge (the posh part of town) was purchased by Mr Quinlan in 2006 for â‚¬7 million with even more spent on refurbishing it in some style. Yesterday it went on the market at â‚¬2.95 million. Mr Quinlan is also attempting to sell another substantial redbrick house that he bought in 2007 for â‚¬8.5 million and which is now asking â‚¬2.95 million. Mr Quinlan had invested heavily in residential property in Ballsbridge during the boom years. He now lives in London.