Bartra Capital Property Group in Ardoyne deal

 

It was Dublin’s first purpose-built, luxury apartment complex, complete with concierge service. Now a property company is buying much of Ardoyne House, in Ballsbridge, in a series of off-market deals.

Bartra Capital Property Group, owned by developer Richard Barrett, has bought eight of the 46 apartments in the block, which was briefly Dublin’s tallest building in the early 1960s, before being overtaken by Liberty Hall.

Two years ago the scheme’s owners, mostly elderly residents or investors, agreed to ask a developer to help fund its refurbishment. Under the plan, those willing to help fund the upgrading works would vacate their apartments during refurbishment, while those who were unwilling to contribute could sell to the developer.

Company records show that Bartra has begun the process of taking over the development. It is in talks to buy more apartments and has also bought garages and car ports in the complex, which sits on two acres overlooking Herbert Park.

Bartra has set up a company to secure units, Bartra Property (Ardoyne). Along with the management company, it plans to redevelop the complex, if it is given vacant possession of all of the homes.

Its Dublin 4 location and generous site mean the complex could be transformed into one of the most luxurious schemes in the capital. The apartments are large— some have more than 160 sq m of living space, with balconies of 45 sq m, but many need upgrading. The building also needs rewiring and replumbing.

Of the homes Bartra has bought so far, the cheapest was €485,000 and the most expensive cost €1.025m.

Some owners have decided to test the market, and their apartments are for sale, including Nos

 

 24 and 31, priced at €595,000 and €650,000, respectively. Nos 51 and 52 are available separately or as one lot for €1.49m.

Bartra has bought up several homes in Dublin 4 and 6 recently, including that of the late businesswoman Gillian Bowler, on Morehampton Lane, for €3.2m, and Kinvara, on Glenart Avenue in Blackrock, for €3.25m. It plans to demolish the houses and build luxury apartments. It is also seeking to build an apartment block at Bulloch Harbour in Dalkey, despite opposition from locals. 

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