THERE’S money in muck, they say, and there was certainly money for Muckridge House.
This large, 8,000 sq ft Georgian house on the edge of Youghal in east Cork, was sold quickly back in 2006 for a rumoured €8-€9 million or so, prior to its planned sale by tender when it had been guided at a lower €5m.
The reason it went so strongly? It was the height of the boom, its 100 acres — with over 35 acres zoned for development — was grist for fuelled speculation, and there was a pipeline of easy money from the banks for just such sorts of property. It was bought by a consortium with a legal background, it was then quickly part sold on, and its valuation rose as high as €14m within a year or so when a pension fund got involved.
That was then, though, and this is now, and there’s little likelihood of immediate development on the zoned land. Its current part-zoning for light industrial uses might well end up being switched to housing....when there’s a pick up.
Now, Muckridge House, on a reduced 24 acres of greenbelt or open area, is being off-loaded by its new consortium mix of owners., with a very modest seeming €1m AMV via joint agents Harriet Grant of Knight Frank in Dublin, and Con Spillane of National Irish Properties in Youghal itself.
Although it needs work (and heating, and drying out) there’s lot of genuine Georgian house here, just off the Youghal bypass road, along with a range of old stone courtyard and lofted buildings, barns and farm buildings, with some mature screening and 24 acres of good pasture.
The 19th century heritage residence, double fronted and two-storey over basement, has six bedrooms, much of its original architectural features are still in situ, and the basement level has eight rooms.
Near the protected old Youghal brickworks, Heathfield Tower and the Ringcrew roundabout, Muckridge House and demesne was previously held by the Dora Haccious Trust, and was originally the seat of the FitzGerald family.
Three years ago you couldn’t have afforded to even consider Muckridge House as a large family home, now it could well prove to be a bargain east Cork ‘Riviera’ buy for a brave private owner.
© Irish Examiner Ltd. All rights reserved