A public toilet in Dublin could bring in almost 300,000 euros ($384,000), almost the price of a new house owing to its sea facing location - a surfing beach on Ireland's rugged Atlantic coast.

Martin Conway a local politician says, "You could leave the toilet block and be in the sea in less than 40 seconds."

He admitted: "It's quite remarkable that an old toilet block would fetch 300,000 euros."

The ramshackle, out-of-order toilet is priced way above the cost of a traditional house in Ireland. The average cost of a home in Ireland, where house prices have gone up 15 percent in the past year, is 299,929 euros ($383,134.18 ).

Local property auctioneer Nicola Leyden said the site is overlooking Ireland's best known surfing spot and was breathtaking: "It's probably the most sought after pee you'll ever take on the west coast of Ireland," he added.