The last time a Bweeng house development featured in these page was August 2006, when a 46-unit scheme was launched, one of three in the location back then being touted as a commuter location for Cork city, though it’s 30 kilometres distant.
It was at the Irish property market’s absolute peak, when 1,000 sq ft semi-ds in Bweeng were priced at €280,000, and four-bed detacheds were to be sold at €375,000, while — quite incredibly — individual house sites of 0.2 of an acre were being offered at €190,000.
Then, September 2006, incoming PD leader Michael McDowell said he reckoned the State didn’t need to take in €2bn a year in stamp duty from house sales, and that late summer period was when all the heat (and heated air) went out of the inflated Irish property bubble.
Add the global banking collapses of 2007, and the rest, well, has been wretched recent economic history.
Now, with the economy back on the rise, so too it appears is Bweeng, set between Blarney/Grenagh and Lombardstown, after the part-completed Droimneach scheme bought from Nama in December gets a January 2016 sales launch. Developer Bernard Hennessy bought the former Chieftain Construction Droimneach site, comprising nine finished and part-finished homes, and 13 sites.
In the six weeks since, he has sold all nine houses via Con Nagle of Global Properties Ballincollig, and by early February Mr Hennessy intends to start building on the remaining 13 sites. The sales to date were at €125,000 for four-bed semis, a show unit made €150,000, and part-completed houses went for €85,000.
The next phase of timber-framed homes will see three 1,590 sq ft, four-bed detached residences at €174,500; four-bed semis of 1,378 sq ft with garages will be €154,500, and those without garages will be €149,500.
VERDICT: Still a lot cheaper than Bweeng sites alone of 2006 vintage at €190,000, and employers such as Apple, EMC, etc. are all located within a 15-to-20 minute commute.
© Irish Examiner Ltd. All rights reserved