Receiver to sell off seafront centre
Published 16/04/2010 | 05:00
A GROUP of 16 luxury sea front lodges and an entertainment centre near Castletownbere, West Cork, which are estimated to have been worth around €7m at the market peak are being sold in one lot by the receivers.
The three-bedroom lodges and a honeymoon suite have been finished to a five-star standard with kitchen, surround sound system, Jacuzzi baths and American style fridges.
The 371sqm entertain-ment centre comes with a licensed bar, function room and meeting room with an outdoor area overlooking the sea.
Known as Whelyn Lodges, the property exceeds seven acres and was developed by Coolfadda Developers Ltd, which was headed by Bandon-based Conor Slattery and Paul Collins.
The attractions of the development include tax incentives against rental income for investors who might also generate rents of over €800 per week at peak season.
With its scenic setting and seaside jetty, it might also attract off season business for corporate conferences and weddings. Joint agents Colliers Jackson-Stops 01 6333700 and Cohalan Downing 021 4277717 have declined to quote a guide.
The receivers are KPMG partners Barry Donohue and David Swinburne. The closing date for tenders is 12 May.