Black Tie founder, Dragons' Den judge and property developer Niall O'Farrell is seeking planning permission to demolish a house at Shrewsbury Road in Dublin 4 that he bought for more than €7.5m in 2005, despite the current property downturn.
The developer wants to build a new house on the property. His planned three-storey-over-basement house would measure 985 square metres, nearly 10 times the size of an average house, with balconies to the front. It would more than double the size of the existing three-storey house, which is close to the junction with Ailesbury Road.
The house was originally built by concert promoter Harry Crosbie before becoming home to one of the McCormacks, who are involved in property development.
The existing front boundary wall and entrance gates will also be demolished if O'Farrell gets the thumbs-up for his plan, and a new front boundary will then be built.
The record price for a house at Shrewsbury Road is €58m, which was the amount paid for Walford, the most expensive house ever sold in Ireland.
Earlier this year the O'Malleys were given the go-ahead to redevelop the former Chester Beatty library site there after a series of planning battles. They will now be able to build seven three-storey-over-basement houses on the one-acre site there, a decade after they purchased it for more than €9m.