River site is one in a million

LAUREL WALK is the D4 of Bandon — or its Sunday’s Well, if a local comparison is more appropriate.

A collection of riverbank properties built on the grounds of Coolfadda House, most run right down to the Bandon River. Located on the northern side of the town, and off a country road past Hamilton High School, all of the houses here date from a time when land was cheap — and plentiful.

The foresight of these 1950s or so builders has to be admired: Laurel Walk comprises large waterfront sites facing full south within a walk of the town and in a very salubrious location.

Sales are rare, which is why the launch of a detached bungalow on Laurel Walk will draw huge interest, if not a sudden intake of breath. A family home for two generations of owners, this substantial bungalow isn’t the real story — it’s the site.

On a terraced acre with river frontage, the precious property is on the market at a cool million through joint agents, Don Brennan of Sherry FitzGerald Brennan Busteed and Malcolm Tyrrell of Cohalan Downing and Associates.

Any viewer who wants an example of the potential of the site only needs to look over the boundary at the work in progress next door.

Sharing the same entrance (in the shape of the stout pillars of Coolfadda House), next-door’s property is an emerging cedar and slate dwelling over two levels, with a simple single-storey facade. It belies the size of the structure.

The same could be achieved with this bungalow. Still in good structural condition, new owners are likely to incorporate the existing footprint into a large scheme to extract the value of the location.

Then, of course, there is the option of demolition, which could pave the way for a whole new property on the existing, elevated footprint.

As it stands, the bungalow has a large forecourt approach, with raised beds up to old estate walls on the northern side. Just the two houses share the impressive entrance and this house owns the road.

A double garage flanks the western side of the courtyard and the house forms the rest of the horseshoe, which includes plenty of parking.

Internally, the property is a storey and a half, with reception rooms facing south and leading onto a decked area and terrace.

The kitchen is to the rear and faces the forecourt — the centrepiece of the room is a venerable, working Aga.

About 50 years old and with more than 1,500 sq ft of space, the house sits on a mature site, with big old trees, rhododendron bushes and a variety of shrubs.

The grounds run down in levels to the river, which, according to the vendors, is safe for swimming.

A child’s paradise, this property will make a wonderful family home and while the entrance fee means the property will be within the reach of a certain demographic only, it should repay its investment in spades over the years.

Mind you, the million euro asking price is just for starters and to get the best value from the site, half of that sum again might have to be invested. But then — it would be some property.