A landmark Georgian House, which sold for €3.25 million at auction just six years ago, will go under the hammer again next week with a reserve price of just €475,000 – an 85% drop from its peak price.
Hyde Park estate in Inch, Co Wexford will be auctioned off by Colliers International on Thursday November 1st at 3pm at their offices in Pembroke Street, Dublin 2.
The imposing Georgian House is situated on 12 acres, half of which is woodland and includes five houses, gardens and a long driveway. The main house dates from 1803 and was once home to British ambassador to Moscow, David Kelly, as well as a Christian group who built a chapel on the grounds.
While the property does retain many of its attractive features, some work needs to be carried out on the five houses in order to make them habitable, something which estate agent Edward Townshend of Colliers says is reflected in the reserve price.
The main residence downstairs consists of three reception rooms, including a dining room and a kitchen which incorporates a second dining area. Upstairs there are six bedrooms, five of which are en suite and there is also a basement with four store rooms, a laundry and a wine cellar.
At the rear of the house are four stables, a coach house, a lofted workshop and a large store room.
The other five houses vary in style and range in size from three to five bedrooms, giving the perfect opportunity for someone looking to break into the self-catering holiday home market.
