An erstwhile council property in Dublin, initially purchased for €50,000 and then extensively renovated for approximately €430,000 by a drug dealer, is now up for sale after its confiscation by the Criminal Assets Bureau (Cab). The Killala Road, Cabra property was once the residence of Christopher Waldron, and it’s currently on the market via Gibson Auctions Ltd.
One can notice a two-storey expansion that covers much of the rear garden in the property pictures. There’s also a separate, petite high-specification abode in the backyard, suitable for use as a ‘granny annexe’ or ‘man cave.’
Describing the property, Gibson Auctions stated, “This end terrace three-bedroom townhouse is available for immediate possession. The interior briefly includes an entrance, living area, kitchen-diner, a lavatory downstairs, three bedrooms, a family bathroom, along with a converted loft.” The interior meets high standards, attracting a variety of potential buyers and investors. Additional features include off-road parking in the front and a stone-paved garden in the back. Interested parties can start bidding at a minimum of €275,000 when the online auction launches at midday on 25th April.
The property was confiscated by Cab from Waldron, alongside several luxury watches. The High Court granted these seizures after it was argued that Waldron funded these purchases through drug deals in Cabra and Finglas. The ruling in March enables the bureau to sell the property and return the proceeds to the Exchequer.
Assets owned by Waldron, including the Killala Road house, had been previously targeted for seizure by the High Court under the Proceeds of Crime Act. The said house was purchased in early 2013, with extensions and renovations costing approximately €431,000. According to Cab, the funding employed for the extension and renovation was procured through Waldron’s illegal activities.
Several watches were auctioned in December by the bureau after seizure from Waldron; these sales yielded a total of €72,900, a Gold Rolex Oyster Perpetual Day-Day automatic watch being the most expensive, selling for €30,100. The bureau also confiscated some €4,605 and £445 in cash from Waldron during their investigations, with the amount now forfeited to the State.