Tommy Barker reports on a niche development of five new properties in harbourside Jacobs Island.
Jacobs Island, Cork Harbour €385,000/415,000
Size: 126 sq m (1,350 sq ft)
Billed as a last chance to buy a four-bed semi-d in the Longshore Drive scheme at Cork’s Jacobs Island by Mahon Point is the sale of five, 1,350 sq ft A-rated new builds: they are priced at €385,000, or just €30,000 extra for the ready to move into, furnished showhouse at €415,000.
It’s a new, niche scheme by McCarthy Developments and built by MMD Construction, and future phases of the well-regarded Jacobs Island project will be apartments, and aimed at a buying cohort.
Joint selling agents are Shane Finn of DNG Creedon, and Suzanne Tyrrell of Cohalan Downing Associates, and they stress the location by the 18-acre waterfront Joe McHugh public amenity woodland park and Blackrock/Lough Mahon walking route, accessibility just off the south ring by the tunnel, and the option of two bus routes, the 219 and the 215, which starts at Jacobs Island.
There’s a showhouse opening today at No 23 Longshore Drive, 3-4pm, and the four-bed, one en suite houses have south-facing back gardens, air to water heating systems in place, plus stoves in the main living rooms, as well as kitchens, built-ins, and painted decor. A-rated energy thresholds mean low heating and running costs, at these good sized semi-ds.
Interestingly, say the agents, an individual purchasing one of these properties will have cheaper payments to pay per month than renting. They reckon a new-build here would rent for up to €1,600 per month, but can be mortgaged at €1,450 or less, while FTB’s also can avail of the Help to Buy scheme, getting back 5% of the purchase price from taxes paid, worth c €19,000.
Homes have ground floor front living rooms, rear kitchen/dining room, guest WC, three double and one single bedrooms with built-ins, main bathroom, master en suite, and Stira attic access.
Jacobs Island, with a successful mix of apartments and houses, was designed by Projects Architects and initiated by McCarthy Developments after they jointly with Owen O’Callaghan bought land at Lough Mahon from Cork City Council almost 20 years ago. McCarthys also developed Hartys Quay apartments across the water at Rochestown and their two sites are now linked by the enormously popular, scenic shoreline walk from Rochestown to Blackrock Castle.
Indicative of the rise and resurgence in the vicinity on the city’s harbour eastern boundary, McCarthys now say there are 10,000 jobs within 2 kms of Jacobs Island, while the overall site’s capability for new apartments at a later date means badly-needed,additional residential supply.
VERDICT: Shore proximity
© Irish Examiner Ltd. All rights reserved