Strong interest likely in The Island development

THE sap is rising and the property market is all set for another round of price inflation. Will it ever end?

Not according to the agents on the ground who are once more up to a sprint as January ends and the spring market takes its course.

Back Inchydoney way there are other factors afoot which have created a mini-bubble in the West Cork, coastal resort. As part of a local area plan there is a trickle of residential properties coming onstream.

Local objections and hawkeye planners have seen low numbers of properties on offer, which in turn, leads to an increased demand. Witness a low-key development by Clonakilty-based, Hamcro Developments, called The Island at Inchydoney, where 13 houses on a large site are under construction.

Designed by architect, Micheal Barry, (who has some tasty houses in Rathbarry to his credit), these properties will have a Long Island Sound look with a clapboard and render facade. The timber-framed houses will have a distinctive look, says selling agent John Kerr of Real Estate Alliance, and attention to detail will be the hallmark of the three house styles.

Units range from 1,450 to 1,650 square feet and generous PC sums will be available.

The bad news is that there are only five of the 13, detached properties left to sell, and they are up for grabs. While the average unit price on the initial release was in the region of €750,000, some ended up achieving as much as €850,000 each. Now the bar has been raised again and Mr Kerr is to leave the remaining five houses open to offers. And the small print says that the properties have to be bought for short-term, holiday letting purposes.

Just below the last five, and facing the sea is a 0.15 acre plot which is also just 350 metres from the 5-star Lodge and Spa.

With residential zoning under the Local Area Plan, the site is on the market with Martin Kelleher of SWS Property Services for offers in excess of €400,000.

It’s the only bit of land on the southern side of the road, and views aren’t likely to be obstructed as the land below it is steep.

Other plans in the pipeline for Inchydoney island include an application for 45 houses by Fleming Construction which is currently going through planning, and which already has had local objections.