Property Focus: Why Kinsale continues to be a magnet for millionaires
Kinsale has seen an increase in sales of high-priced houses to Irish people who are returning from abroad and in sales to Dublin people buying holiday homes
NO other town outside of the capital and its surrounds attracts millionaires like Kinsale does.
There isn’t another town outside of Dublin and its environs where you will currently find eight €1m-plus properties being advertised for sale.
This year, the expensive seaside town has already seen the launch of Ballinacurra House, a restored Georgian house with a guide price of €6.35m — now the eighth-most expensive property on sale in Ireland.
In March, Savills auctioneers sold 4 Woodlands at Cappagh for €1,017,500, and became the first auctioneers to sell a Kinsale property for over €1m this year.
Despite lockdown restrictions brought about by the global pandemic, there were three €1m-plus sales in Kinsale during 2020 — Rampart House, a period five-bed property, fetched €1.25m; 3 Fort View at Ardbrack made €1.12m; and Cois an Uisce in Sandycove sold for €1.175m.
While this might seem a lot for a small coastal town which had a population of just over 5,200 in 2016, it pales in significance compared to the 10 €1m-plus sales that took place in 2019, topped by the purchase of Fastnet House for €3.25m.
But then, Kinsale is anything but an average coastal town. It’s a picturesque and scenic one with marinas, sailing, golf, art galleries, expensive boutiques, and fine dining — as well as an amazing array of high-priced properties. These range from elegant period properties to highly glazed, high-spec modern ones.
The town has been described as the “Dalkey of the south” and compared to St Tropez — not because of its climate, but because of its ability to attract the jet set.
Malcolm Tyrell of Cohalan Downing auctioneers says that millionaires have been buying in Kinsale for decades, but the most interesting change to come about in recent years has been the increase in the number of Irish millionaires making those purchases:
He says that, since last summer, he has seen an increase in sales of high-priced houses to Irish people who are returning from abroad and in sales to Dublin people buying holiday homes or making plans to move to Kinsale.
Catherine McAuliffe of Savills is also dealing with Dublin buyers and returning Irish, but says the attraction of Kinsale for foreign buyers is still strong. She is getting international enquiries for Edgewater, a waterside property with its own marina and a guide of €2.5m.
Patricia O’Regan of Sheehy Brothers also notes an increase in Irish buyers at this level, and reveals that last month she saw Sleaveen House, a period house, sell to an Irish buyer who had only seen it virtually, for well in excess of its €850,000 guide.
Proof that the pandemic has in no way diminished the attraction of Kinsale can be seen in the fact that Convent Garden — a high-spec new development of townhouses, with prices from €450,000 to over €710,000 — sold out for Savills in just one month last October.
Equally strong interest is anticipated for the Convent Garden apartments, which are expected to have prices between €500,000 and €1.5m and are due for release later this year.
Unique in being the only town centre property with its own private marina, Edgewater has a guide of €2.25m, and is currently the second most expensive property on the market in Kinsale.
Built in the 1990s, it’s a traditional style slate-finished, detached, two-storey house with a full-length balcony offering views right across the yacht-filled harbour to James Fort and Castlepark.
The house has four bedrooms and 1,950 sq ft of space — but the main attraction, for those who can afford it, has to be the 90ft floating marina in front of it which can accommodate up to six boats.
“It’s suitable for most crafts including deep keel yachts," reveals Catherine McAuliffe of Savills, noting that it has its own foreshore license.
: What millionaire wouldn’t appreciate having a private berth for their yacht in Kinsale?
Options for well-heeled house hunters looking for a second home in Kinsale include a renovated period farmhouse at Sallyport near Summercove with a guide of €1.2m.
Built in 1836 and transformed into an attractive four-bed home in 2002, it combines modern comfort and features with original thick stone walls, rough plasterwork and exposed ceiling beams. Overlooking Charles Fort, it has over 1,600 sq ft of living space, and is on a site of almost 1.5 acres. Ron Krueger of Engel and Voelkers auctioneers says this property offers space, privacy, and the potential for further development.
“It’s close to Summerhill village and with a short drive from all the amenities in Kinsale Sallyport beach, coastal walks, and fishing are all within a five-minute walk.’’
: An old-world option for a millionaire.
From its elevated site on Compass Hill, Swiss Cottage offers a perfect vantage point for looking out on the yachts that sail into Kinsale harbour and on the forts that were built to guard it.
Despite the name — there is nothing cottagey about the property — a 3,500 sq ft detached four-bed house. Built in the 1960s, it has been designed to enjoy maximum use of its elevated site and has a first-floor balcony with particularly impressive views of the harbour, James Fort and Charles Fort. Malcolm Tyrell of Cohalan Downing auctioneers says other attractions include privacy, and an excellent location within a ten-minute walk from the town centre.
: Has all the views, space, and privacy a millionaire could want in a Kinsale property.
Cornomona’s 2.52-acre site is what justifies its €1.25m price guide — that, and the sweeping views of the River Bandon which can be seen from the front.
Located at Cappagh 2km from Kinsale, it’s a four-bed 1970s built single-storey property with over 2,000 sq ft of living space. Its extremely substantial site includes an expanse of gently-sloping lawned gardens, as well as a full-size tennis court and an orchard with fruit trees.
It’s very much a property of its time, and now is in need of updating. Auctioneer Patricia O’Regan of Sheehy Auctioneers says there is potential for a new owner to extend and modernise, but that a buyer could also consider the option of demolishing the property and building a new one.
“Properties with 2.5 acres are very, very rare in Kinsale,’’ she observes.
: A very attractive site.
: Monkstown/Passage West
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