Resort site for sale as farmland
The name comes from the mass slaughter that took place on the Co Cork headland after the Battle of Kinsale in 1601.
The defeat lead to an Irish diaspora, the Flight of the Earls and this time round, Hangman’s Point is symbolic of another flight — that of money and optimism.
A 600-acre land accumulation was going to be big — very big.
The huge site was going to bring in €100 million a year and offer a huge array of tourism and sport activities on the outskirts of the harbour town well known for its restaurants.
But it took years of wrangling to be pieced together, to get planning permission, and by the time it was all in gear, the project failed, and now the receivers have pulled the plug.
And the end of the mega-million project will come as the 500 acres remaining of the Kinsale Harbour Resort are sold off piece-meal at farmland values.
Even a year ago, a sum of €30,000 per acre was being tagged for 100 acres of the land. Now, that’s back to €15,000 per acre, through joint agents, Frank Ryan of DTZ Sherry FitzGerald and auctioneer Christy Buckley.
It seems the only people laughing will be those that sold high, and may now have the opportunity to buy back low.
The entire site accumulation is believed to have cost around €10 million — roughly €16,000 per acre — and the land has been tilled since then, in conacre.
