Two chances to buy in holiday home hotspots

TWO Co Kerry hotspot holiday home offerings, aimed at different types of buyers. Which will you have yourself?

No 12 Sheen Woods is a three-bed, 1,000 sq ft house in what is arguably Kenmare’s best holiday home scheme — just 30 units done to a high level by Oyster Developments back in 1999.

Ready to roll for this year’s holidays and weekends, and being sold fully-furnished with a quality fit-out and toe-warming underfloor heating, it has a €325,000 guide with Brian Olden of Cohalan Downing, who says “virtually all of the houses are owner-occupied, used at weekends and holiday periods and very accessible to a range of Munster buyers, Cork in particular”.

The property is located near the five-star Sheen Falls hotel, next to the Riversdale Hotel which is due to be improved.

Meanwhile, in Killarney, the e45 million Quality Hotel and Leisure Centre redevelopment of the former Killarney Ryan Hotel is now almost through, with six of the last eight final-phase, four-star holiday lodges left to sell.

Sold in 2003, the land surrounding the former Ryan Hotel property in the country’s busiest tourist town now has a mixed-use scheme which includes 63 four-star hotel suites, as well as 24 four-star holiday cottages.

Co-developer John F Supple Ltd also independently constructed 40 four-star hotel suites as part of the hotel site redevelopment, says Bernard Hennessy of the Ophelia Partnership, based at Supples’ Cork office.

He says the works to date cost over €44m, and that the complex “is trading exceptionally well, and upwards of 900 guests will be housed on any given night over the summer period”.

The three-bed, 1,324 sq ft holiday lodges left to sell have tax breaks, a guaranteed €6,000 a year net rental income. The cost is €395,000, excluding VAT but inclusive of fit-out to four-star standards (a showhouse is open this Bank Holiday weekend). Stamp duty of €22,000 is payable.

Net cost to investors after capital allowances is €255,400, with full mortgage relief.

Investors can shelter rental income of up to €326,000 over ten years for each unit purchased, and rental demand is forecast to be strong because occupants can make use of all the hotel/leisure centre facilities.