Beside the seaside ...

WITH a sale just agreed on a Kinsale apartment investment that had a €465,000 price and which attracted 30 inquiries and ten bidders, agents Savills can expect a similar level of interest in a prime quayside site in the same seaside tourist town.

New to market for €500,000, via private treaty, is a 0.24-acre site on Pier Road, previously used as a petrol filling station, and including a former 4,500 sq ft B&B facing onto Main Street.

They expect builder, developer and investor interest. It could suit new uses, including boutique hotel, subject to planning. The setting is key to its appeal, and near neighbours include award-wining restaurant, Fishy Fishy, a very busy chip-shop, Dino’s, and it’s also near the park/green and car parks, as well as Acton’s hotel.

The former Seaview B&B and filling station (it had a bar licence a decade ago) has been unused for years, and is in poor condition. The agents are selling for receiver Niall Macklin, of KPMG, and it had been on the market in 2002, for €3.5m, as a redevelopment opportunity.

The former Seaview B&B portion on Main Street is likely to be subject to conservation, and the petrol station and tanks will have to be decommissioned if the quarter-acre site is used for other purposes.

It’s being sold via private treaty, with vacant possession, and expressions of interest are due by July 24.

Savills had been involved in a half-acre site nearby with a higher price, and also have ‘sale agreed’ on No 68, Lower O’Connell Street, a mix of retail and seven apartments (with planning compliance issues) gone to market in April, and priced at €250,000, it excited strong interest. It went to expressions of interest, and was due to go to private auction, but terms were agreed close to €465,000, prior to auction, to a private, undisclosed investor). “It had a number of planning issues that all parties needed to factor in,” said Sam Daunt, of Savills.

* Details: Savills, 021-4271371.