On the Waterfront

A mixed-use development site with completed first phase in West Cork’s top tourist hub of Clonakilty is for sale with agents Lisney for €1.2m.

On the Waterfront

There are seven acres, with water-frontage to the inner bay, in a site acquired from the GAA by developers Hillback in 2005, for around €9m. The deal enabled the town’s GAA club to move to top, new facilities on 22 acres, just west of the town at Ahamilla.

Investment to date at the Waterfront site, on the N71 relief road, stands at €20m: it was to hold a €40m overall development of new, town facilities to include 60,000 sq ft of commercial buildings, and 150 residential units, mainly apartments.

There’s three completed buildings, sections of which were leased for several years to the local gaelscoil and which moved to a new, purpose-built school last autumn. One building was built as a regional HQ for Ulster Bank, who never moved in. There are six high-quality apartments on the upper levels of the larger building, fully let and producing €54,300 pa. The Waterfront site has planning for a discount store on a portion, aimed at Aldi. In the meantime, Lidl secured planning for a store on a nearby site on the Inchydoney Road.

The site and landscaped plaza have a very high profile onto the town’s relief road, and have been loaned out as a summer music festival venue in recent years, as well as hosting the starting and finishing points of the hugely successful Waterfront Marathon series of races each December.

Waterfront’s developer, Bobby Hilliard, of Hillback, was named Zurich LAMA ‘developer of the year’ in 2010, after being nominated by Clonakilty UDC for his developments in the town. The award-winning, contemporary scheme was designed by Richard Rainey Architects, and the site is zoned ‘town-centre, mixed-use.’ The completed buildings are three and four storeys, detached, with a link between two, and have ground-floor retail and overhead office and apartment accommodation.

Margaret Kelleher and Edward Hanafin of Lisney price it at €1.2m for the entire, offering it by means of best bids, by April 25.

* Details: Lisney, 021-4275079

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