A stunning residence in Limerick has sold for 80% less than its guide price of €2.3m three years ago.
Somerton House in Crecora was on the market for €1.5m last year, down from €2.3m in 2010, but listings in the Property Price Register reveal that it sold for just 19.5% of its original price-tag, at a mere €450,000 on July 24th.
The stunning property features six bedrooms and five bathrooms, and a private lake – and crucially had €1,850,000 shaved off its price.
The detached 6,000 sq ft residence on landscaped gardens boasts solid mahogany floors and kitchen units, pure filtered water in all taps, and a master bedroom with a walk-in dressing room and jacuzzi bath.
Its massive price-drop mirrors the fall of another expansive mansion in Co Limerick in recent years.
Winterwood, on the grounds of Adare Manor, sold for in the region of €1.5m, after having a guide price of €12m four years ago.
A couple from overseas scooped the cut-price deal for the eight-bedroom property bordering the famous golf club, after it was built for a well-known property developer who has now ceased his operations.
Somerton House was sold through Rooney auctioneers in the city, and was one of the most expensive properties on its books for a time.
The long-standing agents are still offering another substantial property in Crecora for sale – Kilpeacon House, a period property set on 32 acres for €1.2m.