Prime Kinsale land back on market

LOW-KEY moves by an international company to acquire a spectacularly-sited coastal Co Cork land holding for about €4 million have evaporated — prompting a fresh bid to sell the 370-acre property.

The company, which made a significant Irish acquisition last year, had been weighing up three prospective sites for a new niche manufacturing venture, with visitor centre and amenity facilities, at locations in Munster and Leinster. They had an option on the land just south west of Kinsale, which expired during the summer. Now, the land is back on the market with estate agent Christy Buckley, and is once more under offer, again with international interest. An option deposit for the €4 million deal had been paid by the unidentified company on three associated land holdings by the mouth of Kinsale harbour, at Ballymacus, Preghane and Rathmore. It totals 270 acres at Ballymacus and Rathmore, plus a further 100 acres at Preghane.

Involved in the negotiation was KPMG receiver Barry Donohue, who has been managing the land since the Kinsale Harbour Resort business went into receivership. It had been assembled by a local consortium, headed by Seán Rainey, for a proposed €200 million exclusive Ernie Els-designed golf/equestrian/leisure and hotel and holiday cottage complex.