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 Post subject: Slevoir House, Terryglass, Co. Tipperary (-2m, -50%)
PostPosted: Wed Apr 27, 2011 4:00 pm 
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Of Systemic Importance
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1999, bought for €4m (£3.11m)
http://www.irishtimes.com/newspaper/pro ... 00189.html

2005, asking €4m (including 125 acres of land)
http://www.independent.ie/unsorted/prop ... 58928.html

2006, sold for "more than €4m"
http://www.westcorklive.com/_news/artic ... 73&NCID=13
"The American owner of Slevoir, on the shores of Lough Derg near Terryglass, has sold the Italianate mansion for more than €4m, though he never lived in it. The businessman from Chicago purchased the house sight unseen six years ago but subsequently found a property he preferred in another part of the country. Built in 1870, Slevoir was owned by the Hickie family until 1950, when it was bought by the Salesian Sisters; it became a private residence some thirty years later. The new owners, two businessman, are expected to convert the property into a hotel. "

Now on the market asking €2m (set in "about 110 acres")
http://www.myhome.ie/residential/brochu ... ry/1371011

More on the house at
http://www.buildingsofireland.ie/niah/s ... o=22301001

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"Sitting on the sidelines, cribbing and moaning is a lost opportunity. I don't know how people who engage in that don't commit suicide." - Bertie Ahern, 4/July/2004
"It is irresponsible to suggest that the ‘negative equity’ scenario that occurred in the late 1980’s in the UK could occur in Ireland" - Marie Hunt, Director of Research, CB Richard Ellis - Press Release 17/Apr/2007


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 Post subject: Re: Slevoir House, Terryglass, Co. Tipperary (-2m, -50%)
PostPosted: Thu Apr 28, 2011 8:17 am 
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Of Systemic Importance
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More in d' paper today:
http://www.irishtimes.com/newspaper/pro ... 16609.html

_________________
"Sitting on the sidelines, cribbing and moaning is a lost opportunity. I don't know how people who engage in that don't commit suicide." - Bertie Ahern, 4/July/2004
"It is irresponsible to suggest that the ‘negative equity’ scenario that occurred in the late 1980’s in the UK could occur in Ireland" - Marie Hunt, Director of Research, CB Richard Ellis - Press Release 17/Apr/2007


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 Post subject: Re: Slevoir House, Terryglass, Co. Tipperary (-2m, -50%)
PostPosted: Thu Apr 28, 2011 9:48 am 
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Single Home Owner

Joined: Feb 23, 2011
Posts: 106
hmmm, I suspect the "easy reversal" of the pvc windows would be a rather expensive operation. I can't find any mention to central heating either.


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 Post subject: Re: Slevoir House, Terryglass, Co. Tipperary (-2m, -50%)
PostPosted: Sat Apr 30, 2011 4:27 pm 
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Migrant

Joined: Apr 30, 2011
Posts: 1
Nige, I agree with you about the cost of restoration of the windows, from the photos I have found there do seem to be many to deal with, and one wonders why the nuns chose the cheapest and easiest way to deal with them rather than do a decent restoration on the glazing. No doubt government incentives made this the most affordable option, but the fact that they did anything at all makes me think there was a serious problem that had to be addressed immediately. It will not be inexpensive to do a proper restoration in this respect.

There is a central heating system though, in a couple of the photos I have found there are central heat registers, whether or not they or the boiler are functional I can't say from a picture, but at some point in the early to mid 20th century it was plumbed for a central boiler. At http://www.property.ie/property-for-sal ... ry/589447/ you can see in photo 9 left and next to the fireplace a cast iron heat register, in photo 10, the salmon/coral drawing room you can see them under the windows.

Of all the houses/properties I have seen for sale on the internet over the years, if I were a wealthy man this is the one I would buy and bring properly back to life. The location, the elegant lines, the sheer massiveness of it's presence, like an anchor in the world that rootless Americans like me never can really know. My father was from that region, Loughrea, Ballinasloe, Rosscommon, Athlone, and the family is all still there. Born in Galway, turned 21 on the boat over in 1949. Slevoir House is really an icon to me. If it were 2 million euro to buy and another million to restore it would be worth it, though I wonder what taxes would be, I have no idea what kinds and what amounts property related taxes in Ireland are. Here it is different depending on the state you live in, California for example limits property taxes to 1.5% of the value of the house per year, New York property taxes are a bit higher but they also levy a seperate school district tax that is often higher than the property taxes.

Next time I am in Ireland I would love to go to Slevoir and see the place, if nothing else from a boat on the lough should it be sold and in private hands again.


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 Post subject: Re: Slevoir House, Terryglass, Co. Tipperary (-3.35m, -83.75
PostPosted: Fri Nov 11, 2011 12:21 am 
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First Time Buyer

Joined: Oct 25, 2011
Posts: 83
Now 650k

Can this be right? Some drop if it is.


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 Post subject: Re: Slevoir House, Terryglass, Co. Tipperary (-3.35m, -83.75
PostPosted: Fri Nov 11, 2011 5:03 am 
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Old Time Landlord

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Posts: 389
lombardox wrote:
Now 650k

Can this be right? Some drop if it is.

Phenomenal is all I can say. Better get your bid in before ruinean above swoops in with an offer!! Big properties like this, above all other properties for sale in Ireland, are starting to show some tremendous value for someone with the cash. Love the phraseology of "the sheer massiveness of its presence" by the way. Sums it up nicely.


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 Post subject: Re: Slevoir House, Terryglass, Co. Tipperary (-3.35m, -83.75
PostPosted: Fri Nov 11, 2011 6:03 am 
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Neo Landlord
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lombardox wrote:
Now 650k

Can this be right? Some drop if it is.
Maybe a typo. Quoted at 1.65m here: http://search.savills.ie/Properties/Res ... evoir.aspx


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 Post subject: Re: Slevoir House, Terryglass, Co. Tipperary (-2m, -50%)
PostPosted: Fri Nov 11, 2011 6:07 am 
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I've just noticed the differences in land size between the two listings. Maybe it's a 650k asking price without the extra land and 1.65m with.


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 Post subject: Re: Slevoir House, Terryglass, Co. Tipperary (-2m, -50%)
PostPosted: Fri Nov 11, 2011 6:42 am 
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Neo Landlord
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And now I've noticed a second listing on the Savills site with 40 acres for 650k: http://search.savills.ie/Properties/Res ... Slevoir-(1).aspx

So:
house + 110 acres = 1,650,000
house + 40 acres = 650,000

If you assume uniform land value:
land = 14,285 euro/acre
house = 78,571 euro

Wow. Not much value ascribed to the house.


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 Post subject: Re: Slevoir House, Terryglass, Co. Tipperary (-2m, -50%)
PostPosted: Thu Nov 17, 2011 11:44 am 
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"Last April, the house, set on 110 acres of farmland, had an asking price of €2 million. Now the house on 40 acres is being offered for sale for €650,000 – a reduction of 67 per cent on last spring’s price, though with a smaller amount of land. The remaining 70 acres will also be for sale. The house on all 110 acres is €1,650,000, a cut of 17 per cent."
http://www.irishtimes.com/newspaper/pro ... 94478.html

_________________
"Sitting on the sidelines, cribbing and moaning is a lost opportunity. I don't know how people who engage in that don't commit suicide." - Bertie Ahern, 4/July/2004
"It is irresponsible to suggest that the ‘negative equity’ scenario that occurred in the late 1980’s in the UK could occur in Ireland" - Marie Hunt, Director of Research, CB Richard Ellis - Press Release 17/Apr/2007


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 Post subject: Re: Slevoir House, Terryglass, Co. Tipperary (-2m, -50%)
PostPosted: Thu Mar 07, 2013 8:31 pm 
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Went for €450,000.
http://www.propertypriceregister.ie/Website/npsra/PPR/npsra-ppr.nsf/eStampUNID/UNID-54D8F6C09116143A80257B27003EF2AD?OpenDocument

I presume that was for the house and surrounding 40 acres which had an asking of €650,000. Seems like a fairly good price for a very large property. Significant restoration and running costs though. Still €550,000 would probably bring it up to scratch so a prestige secluded gaff in a nice location for circa €1m - beyond my budget unfortunately but a good deal for somebody.


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 Post subject: Re: Slevoir House, Terryglass, Co. Tipperary (-2m, -50%)
PostPosted: Sun Mar 10, 2013 4:07 pm 
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Posts: 112
It's also possible that the house went for 450,000 and the adjoining 40 acres went for an additional 200,000. I understand that it's quite often handled this way so the PPR only represents the house and not the adjoining land.

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 Post subject: Re: Slevoir House, Terryglass, Co. Tipperary (-2m, -50%)
PostPosted: Sun Mar 10, 2013 11:05 pm 
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Abroad wrote:
It's also possible that the house went for 450,000 and the adjoining 40 acres went for an additional 200,000. I understand that it's quite often handled this way so the PPR only represents the house and not the adjoining land.



Agree I heard of a few cases of this recently, although I don't understand the rationale

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