Golf days are about to be knocked out of bounds, as a significant landbank of 78 acres with designated SLR (Strategic Land Reserve) status comes to the Munster housing market, guided at €12m by agents Cushman & Wakefield.
Just launched to the open market is entire Fernhill Golf Course and Hotel, on the Cork side of booming Carrigaline.
It’s close to where the new M28 is expected to run to Ringaskiddy and the Port of Cork’s anticipated €100m relocation, near Shannonpark, as well as adjoining the 800-house development currently advancing with 100 rapid sales at Astra Construction’s Janeville.
“It’s a really good piece of land with lovely topography, and one that should whet the appetites of developers/investors this side of Christmas,” says selling agent Peter O’Flynn, MD of Cushman and Wakefield Cork.
“As SLR lands go, this is one that will certainly be developed in the medium term.”
It’s one of a dozen Cork SLR landbanks identified by Cork County Council, and according to Mr O’Flynn, it’s one of the first substantial SLR land parcels to come to the open market “with good prospects of planning and development within a five-year period. We believe Cork County Council will support this landbank as it can bring substantial residential numbers in an area where they are required going forward.”
The Fernhill complex is being offered with vacant possession by C&W, who suggest that with planning, it’s value could rise to €20m.
Fernhill was developed by Michael Bowes, and includes an 18-hole golf course, 39-bed hotel and 10 guest houses. The hotel and lodges had been offered for sale in June of this year, guiding €4.5m — now, the entire on 78.5 acres is for sale, guided at €12m.
It has services in place for one section, for up to 200 houses, subject to planning.
“This is the most important landbank to come to the market in many years in Cork and we see all the main players strongly looking at this asset,” predicts Peter O’Flynn.
Details: Cushman & Wakefield 021-4275454
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