Green light given for house fit for a kicking king
The Munster, Ireland and Lions player has landed a glittering prize - full planning permission for his exclusive site on Maryborough Hill.
And the out-half is about to convert that precious piece of paper into a €1.5 million property on the approach to Douglas House, on a site he purchased last year for a whopping €725,000.
The three-quarter acre plot is set to be one of the rarified addresses of the southern suburbs, which have the most inflated property prices in the Greater Cork area.
Property sources say O’Gara has invested wisely, as the property’s value is nudging over the €1m mark - and that’s without the house.
O’Gara snagged the last site in the enclave from property and insurance agent, Tony Sexton of Mortgage Choice, who had initially bought the site for his own use.
However, he decided to purchase elsewhere.
O’Gara became the purchaser after another sale fell through and he beat off competition from five or six bidders at the time.
The property came with planning permission for a 4,000 sq ft house which has now been amended to take into account Mr O’Gara’s own design.
On a modest scale and giving a total figure of €1m for the house and site, Mr O’Gara’s mortgage repayments per month over 20 years would be in the region of €5,600.
However, his estimated income would be in the region of €500,000 per annum.
