An impressive eight bedroom house in Limerick, originally built for a property developer during the last days of the Celtic Tiger, has had its prices slashed for a fourth time.
‘Winterwood’ in Adare Manor was originally on the market for €12m four years ago, but it has now been reduced further, down to €1.9m, representing an 84% drop in price.
Close to €1m was taken off the price in recent weeks. Last year, the property was reduced from €3.8m to €2.8m as it failed to attract a buyer in three years.
When it first went on the market, it was one of the most expensive properties ever to be put up for sale locally.
The eight-bedroom, eight-bathroom house once attracted a bid of €10 million, however the sale did not go through, and it is now for sale through joint agents Sherry FitzGerald O’Malley and Knight Frank.
It is one of the largest houses to have been built on the estate with a staggering 1,579sq m (17,000sq ft) of living space. It is pitched as “a stunning property in an enclave of exceptional homes in an amenity rich private setting.”
In a further sign of extravagance displayed during the boom years, the three-storey house has an atrium hallway lit by the largest-ever privately commissioned Waterford Crystal chandelier.
In November last another luxury multi-million euro home on the same grounds sold for under €2m, considerably less than its earlier price of €3.25m. This five-bedroom house had marble floors, walk-in wardrobes and a jacuzzi, and as with all properties in the exclusive enclave, full membership at the club is on offer.
The two properties are among 19 houses in the 840-acre Adare Manor estate, which borders the famous golf club and is home to the JP McManus Invitational Pro-Am golfing tournament.