'I've always loved Youghal... the town means a lot to us,' says developer
Redbarn (Youghal) Construction lodged a planning application to convert the 4.2-acre former Seafield Textiles plant at Upper Strand to mixed housing and commercial development.
In a landscape where the race for urban development is routinely defined by stimulus packages and fiscal imperatives it is heartening to find that emotions can still sometimes help trigger the starting gun.
Of course sentiment does not define Redbarn (Youghal) Construction buying up a ghost estate, building luxury apartments, demolishing a derelict factory for homes and business units, or even restoring a local cinema. However, it remains a large part of a story that details investments estimated to exceed €16m in the East Cork town.
“Naturally, we are profit-driven, but yes, there has been a degree of sentiment around some of our decisions in Youghal," agrees company co-founder David O’Rourke from his home in Kildare.
David, his brother Iain, and their colleague Nick Eagle comprise Redbarn (Youghal) Construction Ltd, which operates as a standalone entity to the wider family business.
David’s paternal grandmother Maura was one of eight children reared in a small house at McCurtainstown, by Youghal’s front strand. As a young woman she left, married, and settled in Dublin, where she died in 2014, aged 104.
The O’Rourke Dublin clan maintained a strong connection with relatives in Youghal and David has treasured memories of his dad and his mum Perle bringing him, Iain, and their sister Diane on family vacations to the seaside town.
“I've great memories of swimming on the beach, greyhound racing, and of course Perks amusements with the dodgems, the big slide, candyfloss, and so on," he says. "It was magical and I’ve always loved Youghal for it.
“Now Sarah and I bring our own two children there. I love seeing them enjoy Youghal as I did. The town means a lot to us all."
David's sojourns in Youghal were curtailed when he attended boarding school at Clongowes Wood College, followed by project management studies at Dublin Business School.
Amid investments in the UK, Ireland, mainland Europe, and Asia, the family sold off its Irish portfolio in 2006, just prior to Ireland's economic crash.
The offloads, including 50% ownerships in both the 400-acre Naas Millennium Park and Newhall Retail Park in Naas, sold for multi-million euros.
The proceeds enabled David to buy a stud farm in Kentucky, which he sold in 2013.
As a racehorse owner his investments also reflect his links to Youghal, carrying names such as Claycastle, Lighthouse Hill, Copperalley, and Ashton Court.
In 2015, with Ireland’s economy on the rebound, David and UK-based venture capitalist Iain began to refocus on the Irish property market and particularly on ghost estates, adding UK-based builder Nick Eagle to the ticket.
“After buying one ghost estate in Laois, we then discovered Parkland in Youghal,” David says. “And we incorporated Redbarn [Youghal] Construction to buy it."
The estate presently remains in the ownership of Redbarn (Youghal) Construction.
It now seems almost prophetic that they would assume ownership of an eyesore estate overlooking the town that had long fragmented the hearts of locals.
“Parklands really opened our eyes to opportunities in Youghal. Nobody was supplying houses to the private market, so there was virtually no competition," says David.
There was also an inkling that Youghal was on the cusp of an upward curve; the first phase of the boardwalk was up and walking, the iconic clock tower was restored, and Cork County Council was increasingly cognisant of the town’s tourist potential.
There was also a growing demand for housing as people gravitated outwards from Cork city and opted to commute to work.
The green shoots of a compatible relationship with the local authority were also evident. “We’ve made about six planning applications to Cork County Council by now and they’ve been helpful, progressive, and very professional throughout,” says David.
One day, driving past Youghal’s closed and crumbling Regal cinema, Sarah urged David and Nick to "buy and restore it".
Inspired both by the challenge and the 80-year-old building’s standing as a community and heritage package, they bought it for €90,000.
“We then found we had absolutely no idea how, effectively, to create a modern cinema,” David says.
With a disaster of Titanic proportions looming, a happy ending was assured when “a UK consultant with expertise in independent cinema” sailed in to the rescue.
“He directed brilliantly,” says David. “On his advice we sourced everything we needed from Ireland, Britain, France, Belgium, Germany, investing about €500,000 on a state-of-the art, fully automated, three-screen facility and wine bar, while retaining the venue’s wonderful intimacy.”
Perhaps it also took the objective eye of an outsider to notice the potential of the 19th century former Loreto Convent and school at Lighthouse Hill.
Properly known as Ashton Court/Hyde House, the elevated 4.2-acre site is in a spectacular setting overlooking the mouth of the Blackwater and the distant hills of Monatrea.
Groundwork on a 44-unit gated, luxury apartment complex began in 2018, before a pause that coincided with Covid and is continuing. Rumours of it being sold on are “untrue”, David assures. “Unfortunately the sales value is still at around €300 per sqare foot,” he says.
“Having suffered fairly heavy inflation on the site, we need to shrink some of the units and may need to re-submit for planning," he says.
“Meanwhile three small sites at the ground’s upper echelons on Golf Links Rd have been cleared and are primed for sale."
About 500 metres east of those sites and adjacent to Parklands sits the new, 15-unit Lios an Óir estate. Again, nobody had sussed or seized the opportunity presented by a greenfield gem sandwiched between two prior developments. "The first residents have just moved in", notes David.
Most recently the company lodged a phase one(of three) planning application to convert the 4.2-acre former Seafield Textiles plant at Upper Strand to mixed housing and commercial development.
It's a prime location, close to the boardwalks and proposed water activity centre at Claycastle and to the imminent Midleton-Youghal greenway.
Its allure is enhanced by being “one of the only flat sites available in Youghal,” David says.
Social media criticism of the acquisition has largely missed the fact that the unique art deco entrance facade will be retained in the development, which will feature 33 units, with a cafe and bicycle park replacing an old gatekeeper's cottage at the 5.8-acre site’s forefront.
“Phases two and three will involve residential and commercial development behind an art deco entrance facade, which will be retained and will include about 80 specifically-designed senior living quarters," he says.
An eye for suitability matched with self-belief seem both omnipresent and pivotal in Redbarn (Youghal) Construction’s undertakings in the East Cork town.
It is manifest also in smaller acquisitions, such as the three riverside shops acquired at Allins Quay.
“They were vacant for 10 years, in poor condition and prime examples of people assuming lost causes," David says. "People asked, ‘are you stupid?’ But I like to think positive and after being restored for about €15,000 each, all three were let within a month of being marketed."
The impetus has now extended into West Waterford through projects such as Lismore’s unfinished Railway Gardens, where 17 houses remain under consideration.
There is also now a realistic awareness of Youghal’s limitations.
“There isn't that much left available from our perspective," David says. “We don't want to end up competing with ourselves. But if something good emerges, the budget is there."
He cites two specific targets for 2023, however. “Believe it or not, I’ve never fished in Youghal and never taken a boat trip up the Blackwater. I intend to correct that in 2023."
Sounds like another good plan.
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