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.

The property, initially marketed as the evocatively-titled Hangman’s Point, is now bound up in the company’s receivership, managed by Mr Donohue, after ACC Bank pulled the plug on the scheme two years ago.

The farms, mostly in tillage, have spectacular panoramic sea views. Originally making about €4 million, the property is now being offered to a local market mostly, by estate agent Christy Buckley. He says he has the entire 370 acres under current offer, at a bit over the €3 million level, and says there’s an option to buy in lots.

Some 20 acres adjacent was previously sold for about €265,000.

“The land is laid out in large fields with good road frontage, and as a result can be subdivided into suitable divisions,” says Mr Buckley.

The 270 acres at Ballymacus and Rathmore are suitable for drystock or tillage, in large, easily-worked fields, renowned for high yielding crops and fattening qualities, currently under tillage and grass, with views of Oysterhaven Bay. There’s a farmyard needing refurbishment, with a three-bay hayshed and lean-to, silage slab, cattle crush, covered four-bay silage pit with two-lean-tos, and a range of other outbuildings.

The Preghane 100 acres at the harbour mouth has views to Charles Fort, Sandycove Island, Kinsale town — and the Old Head of Kinsale Golf Course.

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