Specification Martha and Edward are a married couple who carry on business as architects and part-time property developers: Land Law Assignment, UCD, Ireland

Specification Martha and Edward are a married couple who carry on business as architects and part-time property developers. In March 2022, they became interested in acquiring a property located at 1 Red Street, Wicklow. The property comprises a house built in approximately 1950 with a garden to the rear extending backward from the house for approximately 150 meters.

There is a large, rather dilapidated shed that occupies the rear third of the garden and which is currently used for storage. The house is occupied by an elderly gentleman, John Smythand is in a poor state of repair. The Vendor has indicated his willingness to sell the property. The Purchasers are of the view that the property has excellent development potential. They intend to purchase the site, raze the existing building to the ground, and replace it with a four-story mixed multi-unit development consisting of commercial premises on the ground floor with 12 apartments occupying the upper stories.

They are very confident that, if they can acquire the site, planning permission for their proposal will be readily obtained and that they will be able to manage the development and marketing of the scheme at a significant profit. They have instructed Paul O’Connor of Smith & Murphy, Solicitors to act on their behalf in negotiating and concluding the purchase of the site. Paul O’Connor has obtained detailed information from the Vendor’s solicitor about the title to the property.

Although the house and garden at 1 Red Street form a single contiguous premise, the conveyancing documents reveal that there are in fact two separate parcels of land that make up the premises. One parcel comprises the house. The second parcel comprises the garden area.